#Cleantech Snapshot - Sector is Adapting and Thriving During #Covid19 (OTCQB:
$SING) (NASDAQ: $TSLA) (NASDAQ: $FCEL) (NASDAQ: $BLDP; TSX: $BLDP.TO)
Point Roberts WA, Delta BC, April 14, 2020 –
Investorideas.com, a global news source and leading investor resource covering
cleantech and renewable energy
stocks issues a sector snapshot
looking at how some companies in the solar and cleantech sector are adapting
and thriving during the Covid-19 pandemic, featuring SinglePoint, Inc. (OTCQB: SING) and its solar
subsidiary, Direct Solar of America.
Read this news featuring SING in full athttps://www.investorideas.com/news/2020/cleantech-climatechange/04141SING-TSLA-FCEL-BLDP.asp
From corporate sales to industry events, going
virtual seems to be the solution for solar. The American
Solar Energy Society (ASES) SOLAR 20/20 National
Organizing Committee (NOC) reported it “has been monitoring the COVID-19
situation closely. After much deliberation, the NOC has ultimately decided to
convert the live event in Washington D.C. to a virtual conference in order to
ensure the safety and health of our attendees, speakers, and sponsors. We are
using an interactive platform where important discussions, networking, and
community building can take place from the comfort of your computer, tablet, or
smartphone.”
While analysts are predicting residential
installations could fall this year, in some areas consumers are showing the
exact opposite is happening. According to PV Magazine Australia’s
solar market is booming during the pandemic. “Byron Bay-based solar retailer
Smart Energy says it is seeing an unprecedented surge in sales and enquiries
for solar and home energy storage as consumers look to shore themselves up in
uncertain times.”
US based SinglePoint, Inc. (OTCQB: SING) and its solar
subsidiary, Direct Solar of America are adapting to these unprecedented times
and seeing the gains immediately. The Company was just featured in GreenTech
Media’s article, Coronavirus Is Forcing Home Solar Companies to Sell Virtually. Maybe
That’s a Good Thing. The article
followed news from the Company that they had implemented a Virtual Solar Sales
Platform.
On April 7th, SinglePoint reported that its
subsidiary Direct Solar America, a leading solar brokerage solution, added 9
additional states, Colorado, New Mexico, Wisconsin, Minnesota, Pennsylvania,
Georgia, South Carolina, New Jersey, and Connecticut since it had recently
repositioned it's salesforce to leverage technology platforms that enable the
Company to initiate and close a solar transaction utilizing remote and virtual
solar sales professionals. Shifting to a virtual sales force has been a primary
focus of management since the acquisition of the company by SinglePoint in May
2019, as we believe that the ability to book sales without an in-home visit is
an additional differentiator and competitive advantage in the industry where
door-to-door sales of residential solar had been the common practice.
"The Direct Solar America management team did
a great job re-positioning the company quickly in these uncertain times. Across
various industries, companies are being forced to transform and adapt critical
components of their business model to accommodate social and physical
distancing due to COVID-19, scrambling to implement solutions that allow them
to continue to operate. We are fortunate that we had identified this as a
strategic need at the acquisition and the foresight to begin working on
implementing this type of solution. We are encouraged that we have been able to
retain most of our top sales professionals and can now give them the tools to
succeed in virtual sales. Ultimately we believe this is a significant
improvement in the process and will continue to drive the company to new levels
in the future," states Greg Lambrecht, CEO SinglePoint.
Recently, PV-Magazine reported, ”Jenny Chase,
the head of Bloomberg NEF’s Solar Insight team, that installing solar requires
little physical contact, so is generally a “low risk” workplace activity in the
Covid-19-impacted workplace. As economies in key solar markets like the United
States and Europe begin to reopen for business, it is likely that PV
installations could resume. It strikes me that it [PV] could be one of the
things to be eased up at an early stage.”
Another indicator of what is happening in the
sector, Economic Times reported, “New Delhi: Sales of renewable energy certificates rose over 79 per
cent to 8.38 lakh units in March compared to 4.68 lakh in the same month a year
ago owing to good supply, according to official data.”
“Renewable Energy Certificates (RECs) are a type of
market-based instrument. One REC is created when one megawatt hour of
electricity is generated from an eligible renewable energy source.”
Looking at EV sales during the pandemic, Australia is
demonstrating leadership in that sector as well. According to theDriven.io – “The FCAI
said overall car and SUV sales fell 17.9 per cent when compared to March 2019,
and passenger vehicles were hit particularly hard, falling 25 per cent from the
same month a year earlier.”
“Electric and hybrid vehicle sales, however, were
one of the few bright lights in the data, with sales of electric, plug-in
hybrid (PHEV) and hybrid passenger and SUVs up across the board, with the
exception of commercial SUV sales.”
“The VFacts data – which does not include Tesla –
shows private electric and PHEV passenger sales have almost doubled with 91.3%
more sales compared to March 2019, and hybrid private passenger vehicle sales
are up nearly 75%.”
Tesla’s (NASDAQ: TSLA) stock moved on news from April 2nd - “In the first quarter, we
produced almost 103,000 vehicles and delivered approximately 88,400 vehicles.
This is our best ever first quarter performance.”
|
|
Production
|
Deliveries
|
Subject to lease
accounting
|
|
|
Model S/X
|
15,390
|
12,200
|
16%
|
|
|
Model 3/Y
|
87,282
|
76,200
|
5%
|
|
|
Total
|
102,672
|
88,400
|
7%
|
|
“Model Y production started in January and
deliveries began in March, significantly ahead of schedule. Additionally,
our Shanghai factory continued to achieve record levels of
production, despite significant setbacks.”
Another cleantech company that seemed to go against
the grain during this pandemic,
FuelCell Energy (NASDAQ:FCEL) reported Q1 results
on March 1st and the stock moved up as it beat expectations. The Company reported revenue of $16,264,000
less by 8.54% year over year, beating estimates of $14,910,000. FuelCell Energy also reported a backlog of
$1.36 billion as of January 31, 2020, a $117.9 million (or 9%) improvement from
January 31, 2019.
On March 12th, Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) announced a purchase
order from Solaris Bus & Coach S.A. (“Solaris”; www.solarisbus.com), a
leading European bus and trolleybus manufacturer and Ballard partner,
headquartered in Bolechowo, Poland, for 25 of the Company’s new 70 kilowatt
heavy-duty FCmove™-HD fuel cell modules.
“These 25 modules will power 15 Solaris Urbino 12
hydrogen buses planned for deployment in Cologne, Germany and 10 Urbino 12
hydrogen buses planned for deployment in Wuppertal, Germany, all under the
Joint Initiative for Hydrogen Vehicles Across Europe (“JIVE 2”) funding
program.”
On April 3rd it was reported from France,
“The government selected around 1.7 GW of wind and solar projects from a range
of recent tenders, and approved commissioning extensions due to the Covid-19
situation. A total of 288 renewable energy projects were selected for
development – 253 of which were solar projects.”
For consumers and investors betting on cleantech
for the future, there are signs that in spite of this unprecedented pandemic,
there is a demand for a better, cleaner future and Australian consumers seem to
be leading part of the global revolution. Since they just survived a
catastrophic climate change event, it seems fitting.
Want to get more info on the sector? Visit the Cleantech and Climate Change Podcast page at Investorideas.com
Visit the renewable energy stocks directory: http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
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