#Solar #Stock News:
SinglePoint (OTCQB: $SING) Subsidiary Direct Solar of America Continues
National Footprint Expansion; @_Singlepoint_
Adding Two Additional Markets, Minnesota and
Wisconsin, focusing on Market Expansion and Continued Revenue Growth in 2020
PHOENIX,
AZ - February 25, 2020 (Investorideas.com Newswire) SinglePoint Inc. (OTCQB: SING) is pleased to announce Direct Solar of America is
continuing to expand its national solar brokerage footprint meeting increased
consumer and customer demand for solar solutions for their homes and businesses
by announcing the addition of two additional markets, Minnesota and Wisconsin.
The Direct Solar of America model allows for national scalability which enables
us to increase revenues by entering new markets without significant operational
start up costs due to the leverage from our existing infrastructure.
Read
this news featuring SING in full
As
reported in the Star Tribune, Legislators in Minnesota recently outlined their
2020 agenda including a requirement that all the electrical energy generated
for the state come from carbon-free sources such as wind and solar power. Solar
power is getting its time in the sunlight. "It's growing at about 30
percent per year," explained Greg Nemet, professor of public affairs at
the University of Wisconsin-Madison. "There are studies that say solar
could be 50 percent of our electricity within 10, 15 or 20 years."
"Solar is for real now and ... people are installing solar because it's
the cheapest way to make electricity, even in a place like Wisconsin. I would
expect to see more of that."
"This
is an exciting time for the company as the appetite for solar and energy
storage solutions continue to rise, we look forward to continuing to add
markets such as Wisconsin and Minnesota to fuel our growth in the residential
and light commercial sector," states Greg Lambrecht, Chairman & CEO of
SinglePoint. "The solar and clean energy solutions (both in the Americas
and globally) have undergone enormous change over the last decade and we feel
the acquisition of Direct Solar of America has firmly positioned SinglePoint
and its stakeholders to take advantage of the opportunities created by these
changes as we move into the next 10 years that is being described as the Solar+
Decade."
Enhanced revenue outlook, powered
by solar, continues in 2020
Last
week the company reaffirmed previous announcements regarding the 2019 Unaudited
Gross Revenue of $2,000,000 in its residential solar business unit. It is
important to note that these revenue numbers are only from the time period from
acquisition, May 2019 until the end of the year and do not represent what the
full annualized revenue opportunity. Direct Solar of America continues to track
a minimum of $8-$10 Million in 2020 Residential Solar Sales and is on pace to
meet or exceed total targeted solar bookings in February 2020.
Solar Jobs Expanding Across the
United States, reflecting rapid national expansion and demand for Solar and
energy storage solutions
The
Solar Foundation, a nonprofit educational and research organization, issues the
National Solar Jobs Census each year to provide comprehensive and reliable data
on the U.S. solar workforce. Since the first Solar Jobs Census was published,
American solar jobs have increased 167%, from just over 93,000 jobs in 2010 to
249,983 jobs in 2019.
This
job growth reflects the rapid expansion of the U.S. solar industry, driven by
the plummeting cost of solar technologies and its increased popularity among
individuals, businesses, and electric utilities. In the five-year period
between 2014 and 2019, solar employment increased 44%, five times faster than
job growth in the overall U.S. economy.
Solar
jobs also increased in 31 states in 2019, and growth well outpaced the national
average in many emerging solar markets. The state with the most jobs added in
2019 was Florida, followed by Georgia, Utah, New York, Texas, Illinois, and
Virginia.
Globally and Domestically Solar
Energy is Huge
As
recently mentioned in this Bloomberg Article, all of a sudden, solar energy is
huge. In many countries around the world solar is trending to become the
dominant power supply. Globally, the Number of Megawatt projects have
skyrocketed and the US is appearing to follow suit. Recently Warren Buffet's NV
Energy company received the green light to proceed with the US's largest solar
project to date. While these large scale projects continue to grow, residential
and smaller commercial sized opportunities targeted by SinglePoint are becoming
more abundant.
More Consumers and Businesses are
going Solar
As
environmental awareness becomes a priority for everyday people, solar energy
has seen exponential growth. Homeowners and property owners are looking for
ways to offset their own power consumption and make the move to a more green
and sustainable energy source.
As
an inexhaustible resource that doesn't produce CO2 emissions, projections for
the future indicate that the solar industry will continue to thrive. More
people are choosing solar power for one key reason: it has the potential to
save the average household thousands of dollars. Purchasing solar panels has
never been more affordable and more efficient than it is today. Solar panels
are one of the most innovative technologies of our time, playing a vital role
in reducing the demand for fossil fuels.
Utilizing
solar power is one of the best ways to reduce your carbon footprint as well as
boost your electricity independence. The sun soaks the Earth hourly with enough light and
heat to fulfill global needs for a whole year; in other words, solar radiation
can satisfy our energy needs 4,000 times over.
About SinglePoint, Inc.
Founded
in 2011 SinglePoint, Inc (SING) invests in and acquires brands and companies
that will benefit from injection of growth capital and the sales and marketing
expertise of SinglePoint. The company portfolio currently includes solar, hemp
and technology applications. SinglePoint is working to grow the company to a
multinational brand.
Connect on social media at:
Forward-Looking
Statements
Certain
statements in this news release may contain forward-looking information within
the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under
the Securities Exchange Act of 1934, and are subject to the safe harbor created
by those rules. All statements, other than statements of fact, included in this
release, including, without limitation, statements regarding potential future
plans and objectives of the Company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
Technical
complications, which may arise, could prevent the prompt implementation of any
strategically significant plan(s) outlined above. The Company undertakes no
duty to revise or update any forward-looking statements to reflect events or
circumstances after the date of this release.
KEYWORDS:
Solar, Clean Energy, Renewable Energy, Solar Stocks, Solar Companies
Corporate Communication
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