Point Roberts, Washington and Delta, British Cloumbia--(Newsfile Corp. - May 15, 2019) - Investorideas.com, one of the first investor news resources covering solar stocks releases a sector snapshot featuring SinglePoint Inc. (OTCQB: SING), Walmart, RGS Energy, Envision Solar and Northland Power discussing the rise of solar energy as large-scale industries from cannabis to car manufacturers look to utilize cleantech to offset high energy costs.
This growing importance of solar was discussed in a recent article from Solar Industry Mag. C2 Energy Capital LLC has recently executed 46 power purchase agreements and leases with Walmart Inc. to provide solar power at the retailer's operations in five states.
"These agreements represent a tangible commitment by Walmart to achieve a goal of having 50% of its operations powered by renewable energy by 2025. The solar installations will produce more than 65,000,000 kWh of renewable energy annually, enough to power nearly 5,500 homes. The projects are expected to supply approximately 10%-60% of each store's overall electricity use."
"Solar is a vital component of Walmart's expanding renewable energy portfolio," says Mark Vanderhelm, Walmart's vice president of energy. "Walmart plans to tirelessly pursue renewable energy projects that are right for our customers, our business and the environment. These planned projects with C2 Energy Capital are moving us in the right direction toward our renewable energy goals."
SinglePoint Inc. (OTCQB:SING) recently announced the successful completion of the Asset Purchase Agreement with Direct Solar and AI Live Transfers dated February 22, 2019. Direct Solar is the largest acquisition to date for SinglePoint and instantly puts the company squarely into the renewable energy market. According to Hexa Research the solar market is expected to reach 20.09 Billion USD by 2025. Direct Solar provides a Lendingtree/Rocket Mortgage way for customers to assess and purchase solar. This model allows for the company to scale quickly and efficiently throughout the United States and globally.
"This acquisition will securely place SinglePoint on a new path towards growth, revenue and overall profitability. We believe Direct Solar has the people and the ability to scale beyond initial projections and truly make an impact on SinglePoint's goal of getting a NASDAQ or NYSE. We believe, in the following 12 months from the date of the acquisition, revenues will be in the multiple millions along with profitability. This acquisition is a new opportunity and puts SinglePoint on a whole new trajectory path," states Greg Lambrecht, CEO of SinglePoint.
Video Introducing Direct Solar - https://www.youtube.com/watch?v=jl0u8eZpUrI&t=1s
Recently in an article posted by CleanTechnica, CEO Abigail Ross-Hopper went on to comment, "The rapid growth in the solar industry has completely reshaped the energy conversation in this country," said Abigail Ross-Hopper, SEIA president and CEO. "This $17 billion industry is on track to double again in five years, and we believe that the 2020s will be the decade that solar becomes the dominant new form of energy generation."
Direct Solar has seen tremendous growth over the past year which aligns well with the industry overall. In Q4 2018, the US solar market installed 4.2 GWdc of solar PV, a 139% increase from Q3 2018 and a 4% increase from Q4 2017. This is attributed to environmental awareness and the overall cost of solar becoming affordable for customers.
Solar is a massive opportunity both locally and globally. Locally, the concept of community solar panel systems is gaining popularity in the US and globally the market is expected to reach 100 gigawatts.
Above and beyond residential solar, SinglePoint has been in discussions and contact with companies that are interested in utilizing solar to increase power efficiencies for their cannabis cultivation. SinglePoint believe there is a major opportunity to marry cannabis and solar to help decrease costs and the overall energy intensive indoor cultivation of cannabis.
A recent article in Forbes discussed, in honour of Earth Day, the many sustainability questions regarding cannabis cultivation, with the two largest factors continuing to be energy consumption and waste production-two issues many cannabis companies are beginning to look into addressing as the industry attempts to reach scale.
In the article: "Theories abound on how to make cannabis production more sustainable. Independent farmers believe that the "marijuana Monsantos" that are muscling in are only going to make things perpetually more detrimental for the environment and the instability of the planet in the years to come. The lack of sustainability, vast amounts of water and electricity necessary for cultivation is the elephant in the room of any smoke session."
Cannabis, though an obvious partner with solar, looks to be the rule not the exception as a recent article in CBS discussed how as crude energy prices continue to rise, and the price of renewable energy sources like solar and wind become more efficient and cost effective, solar looks poised to have a strong year in 2019. As SinglePoint Inc. has positioned itself in both the cannabis and solar sectors through acquisitions, it is betting on the synergies to pay off.
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This article is the first in a two part series featuring SinglePoint Inc., to be followed up with a podcast interview with management that will dive deeper into the Company's recent acquisitions in the solar and cannabis industries.
For investors following cannabis stocks, Investor Ideas has also created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, and ASX Marijuana/Hemp Stocks
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