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With climate change a hot topic and the Green New Deal providing a possible pathway for progress, solar power may be a more viable — and profitable — source of energy than ever before.
- Significant growth, ample resources point toward bright solar energy future
- SinglePoint acquisition provides phenomenal opportunity for company to establish industry foothold.
Experts predict solar could be main power source of choice in the coming years.
Industry Growth, Public Sentiment Supports Movement
Now seems to be the time for solar energy. According to a report from the Solar Energy Industries Association, the country's solar market capacity increased 13% year-on-year in Q1, accounting for 55% of all U.S. electricity added during the period — that includes fossil fuels and other forms of renewable energy. The SEIA also reported that, in 2018, a new solar energy project launched every 100 seconds.
In addition, Advanced Energy Now projects that the solar rooftop market will reach $4.14 billion by 2022, growing at a compound annual growth rate of 9.7% until then. The public appears to be behind that growth, with more than three-quarters of Americans feeling that their utility provider should invest more heavily in solar energy.
The resources are certainly available. According to the Office of Energy Efficiency and Renewable Energy, the amount of sunlight hitting the Earth every couple of hours could provide the world's energy needs for an entire year. And with the increased focus created by the New Green Deal and other environmentally friendly movements, this could be the year for the sun to shine on solar energy.
New Acquisition Changes Company Future
Recognizing the potential for significant movement in solar energy, savvy companies both in and out of the energy sector are eyeing opportunities to get involved. SinglePoint Inc. has seized the day and, with its announced Asset Purchase Agreement with Direct Solar and AI Live Transfers, appears to be making a strong move in the industry.
"This is a phenomenal opportunity for SinglePoint," said SinglePoint president Wil Ralston. "This changes the entire financial fundamentals for the company and enables us to continue to push forward with opportunities to continue increasing shareholder value and the overall value of SinglePoint."
Direct Solar has seen exponential growth recently. In the past year, the company has surpassed $1,500,000 in revenue and has posted approximately 60% gross margins. This month alone Direct Solar generated approximately $321,230. Company officials project record revenues for the company throughout the year after the acquisition is finalized.
Burgeoning Growth Presents Hot Opportunities
At the United States Energy Association's annual State of the Energy Industry forum, SEIA president and CEO Abby Hopper declared the 2020s as "the solar energy decade," stating that solar would be the main power source of choice in the coming years.
Although the comment may seem bold, it may not be without merit. Total installed U.S. PV capacity is expected to more than double over the next five years, and by 2023, more than 14 GW of PV capacity will be installed annually. The U.S. Energy Information Administration projects that utility-scale solar's share of total generation in the United States will grow by 10% this year alone, and by 17% in 2020, joining wind as the fastest-growing sources of electricity over that time period. And some experts say those numbers aren't aggressive enough.
This burgeoning solar growth presents a major opportunity for SinglePoint and Direct Solar to establish a leadership role within a promising industry. SinglePoint is well equipped to make this move.
Initially a full-service mobile technology provider, the company has grown through diversification into the horizontal market and has created an impressive portfolio by acquiring an interest in undervalued subsidiaries. Throughout this process, SinglePoint has built a reputation for researching opportunities where it can be active within a company and influence strategy and direction. Target companies are typically undervalued and cash-flow positive with high potential and verified assets.
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