NEW YORK, Feb. 26, 2019
FinancialBuzz.com News Commentary
NEW YORK, Feb. 26, 2019 /PRNewswire/ -- Non-renewable resources are used heavily in applications such as transportation, power, heat, and even production. These resources, such as coal and petroleum, are limited in supply and continuous use will eventually deplete them. In recent times, however, the growing use of non-renewable energy has drawn attention towards the environment, which has prompted national governments to adopt more clean energy laws. In addition, the increasing awareness of environmental safety and sustainability are expected to propel the industry growth as well. However, the high costs associated with manufacturing renewable energy products is hindering the market. Despite these costs, government initiatives have given steady funding over time, providing many companies with an attractive business opportunity. According to data compiled by Allied Market Research, the global renewable energy market was valued at USD 1.46 Trillion in 2017 and is expected to reach USD 2.15 Trillion by 2025. Additionally, the market is expected to witness a CAGR of 4.9% throughout the forecast period from 2017 to 2025. SinglePoint Inc. (OTC: SING), ReneSola Ltd (NYSE: SOL), Real Goods Solar, Inc. (OTC: RGSE), Sky Solar Holdings, Ltd. (NASDAQ: SKYS), Sunworks, Inc. (NASDAQ: SUNW)
The hydro and ocean power segment accounted for 63% of the market share in 2017 and is expected to hold the largest share until 2025. However, the solar energy segment is expected to witness the fastest CAGR of 13.4% during the same period. Solar power is primarily harnessed through panels which store the energy for future use. Specifically, consumers and businesses are using solar energy to power their facilities, homes, and even transportation. The renewable energy is becoming increasingly popular because of its low cost and environmental efficiency. According to Energy Sage, solar energy costs approximately USD 0.029 cents per kilowatt as opposed to USD 0.05 cents per kilowatt for fossil fuels. "It may be, too, that we can overcome the seeming physical limitations of solar power and make it into the world's primary electricity generating source," said Andrew Sendy, Chairman of Solar Investments Inc, according to Solar Estimate, "For now, solar continues to be integrated into our everyday lives — the lawn mower, the flashlight, the rechargeable power tool, the commute, our homes. Researchers even are developing clear, photovoltaic windows. When it comes to solar, nothing is surprising—and, in fact, we have integrated it into our lives already."
SinglePoint Inc. (OTC: SING) announced breaking news that, "it has signed an asset purchase agreement to acquire Direct Solar and AI Live Transfers. The two companies are providing what has been described as the Lending Tree Model for solar business. With the proposal of The Green New Deal solar is at the forefront of every conversation and will continue to be top of mind as the nation grows through an 'energy shift' to renewable resources such as solar.
According to Zion Market Research the global Solar Panel Market accounted for USD 30.8 Billion in 2016 and is expected to reach USD 57.3 billion by 2022 growing at a CAGR of 10.9% between 2017 and 2022.
Direct Solar has been on a hockey stick growth pattern. In the past twelve months the company has surpassed $1,500,000* in revenue with approximately 60% gross margins. In February 2019 the company generated approximately $321,230*. Direct Solar and SinglePoint estimate the four quarters following the closing of the acquisition will result in just over $8,230,000 in sales. This is based on numbers that have already been achieved without marketing budget available to the company. The following year two projections have the company turning a profit of $2,844,288 on revenues of approximately $14,000,000.
Total installed U.S. PV capacity is expected to more than double over the next five years, and by 2023, over 14 GW of PV capacity will be installed annually. This represents a major opportunity for SinglePoint and Direct Solar to exponentially grow and establish a leadership role within the new segment of the burgeoning solar industry.
The asset purchase agreement has been signed and upon the completion of the audit the transaction will be completed. SinglePoint plans to start recognition of these revenues around the end of April. "This is a phenomenal opportunity for SinglePoint. 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". Wil Ralston, President, SinglePoint Inc.
Directly Solar is able to move into every state quickly and efficiently because of the proprietary online education technology the company has developed. SinglePoint plans to utilize this edge to pitch Cannabis businesses on the opportunity to save money and increase margins through lowering the cost of utilities through the use of Solar.
*denotes financials are unaudited
About SinglePoint, Inc.: SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry."
ReneSola Ltd (NYSE: SOL), founded in 2005, and listed on the New York Stock Exchange in 2008, is an international leading brand of solar project developer. ReneSola Ltd recently announced that it was awarded 26 solar utility projects in Poland with a capacity of 1 MW for each. All of these 26 projects are under Poland's Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff of PLN 354.8-358.8/MWh, close to the highest auction price of PLN 364.9/MWh. The Energy Regulation Office in Poland held the country's latest round of solar power auction on Nov. 15, 2018. Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: "We are excited to once again have been awarded the utility projects in Poland. This project's winning validates our team's experience and expertise to deliver reliable, cost-competitive distributed power to serve the growing energy demand in the region. We look forward to further supporting solar deployment in Poland and other emerging markets."
Real Goods Solar, Inc. (OTCQX: RGSE) is America's Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. RGS Energy recently reported that the California Energy Commission has approved the POWERHOUSE™ 3.0 solar shingle system and added it to the commission's list of Eligible Photovoltaic (PV) Modules. RGS Energy has already successfully manufactured its first solar shingles, now available for shipment, and began accepting purchase orders for POWERHOUSE™ 3.0. "The California Energy Commission stamp of approval allows us to sell POWERHOUSE™ in California, the nation's largest solar market," said Dennis Lacey, RGS Energy's CEO. "We see POWERHOUSE™ as having the best combination of aesthetics and value for homeowners, roofers and new homebuilders looking to comply with California's new mandate that requires almost all new homes under three stories be equipped with solar power beginning next year."
Sky Solar Holdings, Ltd. (NASDAQ: SKYS) is a global independent power producer ("IPP") that develops, owns, and operates solar parks and generates revenue primarily by selling electricity. Sky Solar Holdings, Ltd. recently announced that it and its wholly-owned subsidiaries Sky Solar Japan Co., Ltd. and Sky International Enterprise Group Ltd. have entered into a TK interest purchase and sale agreement with Solar Partnership Capital and Conscious Partners KK. The Agreement is related to the TK partnership established on August 28, 2015, when SSJ entered into a silent partnership agreement with SPC to build and operate approximately 107 MW of solar projects in Japan. Under the terms of the Agreement, Sky Solar made a payment of JPY 2 Billion (USD 18 Million) to SPC upon the signing of the Agreement, and an additional JPY 13.4 Billion (USD 121 Million) will be paid on or before April 1, 2019, at which time SPC's entire interest under the TK Agreement will be transferred to Sky Solar or any of its designated purchasers. The TK interest purchase payment is guaranteed by Sky Solar and its subsidiaries. In addition, on December 20, 2018, SPC withdrew the lawsuit it filed against SSJ on June 25, 2018, which alleged significant differences in the interpretation of certain terms of the silent partnership between SSJ and SPC, and purported to seek certain damages. Dr. Hao Wu, Chairman of the Board of Directors of Sky Solar, commented, "We believe the withdrawal of the litigation by SPC and the TK Interest Purchase and Sale Agreement should increase the confidence of Japanese financial institutions that have been following the developments in this matter, and could open up more project finance opportunities for SSJ's projects in Japan."
Sunworks, Inc. (NASDAQ: SUNW) is a premier provider of high-performance solar power systems. Sunworks, Inc. recently announced a new 1.5 mW solar power and battery storage construction project for Kingston Technology, a world leader in manufacturing memory products and quality technology solutions for PCs, servers, smartphones, cameras and other electronic devices. Construction of the new project is expected to commence in mid-2019 after required utility company approvals at Kingston's corporate headquarters in Fountain Valley, California, and will include a 730kW ballast roof mount system and a 772kW solar carport structure. In addition, Sunworks will integrate a NantEnergy energy storage system that is comprised of 10-30 kW inverters, 10-40 kWh battery banks and control management software. The new system is an integral component of Kingston's plans to reduce its electrical footprint by 20 percent as well as advance its corporate sustainability initiatives. Sunworks Chief Executive Officer, Chuck Cargile, said "Kingston Technology is committed to innovative technology and has consistently set the industry standards for quality and reliability while maintaining focus on social responsibility. Solar power is a natural way for Kingston to reduce energy costs, enhance environmental efficiency and raise the bar for social responsibility and sustainability. Sunworks is proud to partner with such a high-quality organization."
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