- SinglePoint
CEO says company set out to harness robust solar-energy growth through
acquisition of Direct Solar America
- SING
expects to break even in 2019; see significant increase in revenue,
profitability in 2020
- Solar
energy sector is one of fastest-growing; fueled by strong demand and push
for carbon-print reduction
In an interview with MoneyTV’s Donald Baillargeon, SinglePoint Inc. (OTCQB: SING) CEO Greg Lambrecht
discussed how the company is poised to harness renewable energy growth in 2020
and beyond.
A diversified holding company, SING specializes in
acquisitions of small to mid-sized companies, helping those companies become
multinational brands while providing investors with the opportunity to make
investments across a wide range of assets and industries. As SinglePoint continues
to capture opportunities through an ambitious expansion strategy across a broad
range of high-potential companies, the company has entered the lucrative
renewable energy sector by acquiring Direct Solar America, a national
solar-energy brokerage.
The renewable energy sector – and solar in particular – is
continuing to demonstrate a bullish outlook backed by the increasing appetite
of both residential and commercial consumers for solar-power alternatives to
cut their energy costs. The International Energy Agency found that solar,
hydropower and wind projects are rolling out at the fastest pace in four years
(http://ibn.fm/hJgjP). The
agency is also predicting that renewable electricity is expected to grow by
1,200GW in the next five years – the equivalent of the total electricity
capacity of the United States.
“Momentum is building for solar; we are excited,” Lambrecht
stated in the interview. “We were at the right spot at the right time. We are
getting our financials done for our year-end audit, and I can’t really talk
about it until it’s audited, but I can estimate that we are looking at $3–$3.5
million, which is way up from last year,” he continued, alluding to the high
growth potential of the renewable energy business.
The Solar Energy Industries Association is predicting that
the industry will become the dominant source of new electricity generation,
calling the next decade the Solar+ decade as collaborations such as Solar +
Storage, Solar + Grid Modernization, Solar + Diversity, Solar + Trade, and
Solar + Finance will shape the future of energy in America (http://ibn.fm/vqtYs).
SinglePoint is seeing this predication come true. The
company recently announced a deal with a major real-estate agency, My Home
Group, one of the fastest-growing real-estate companies in the country with
2,300 agents. “Also, I have connections to other large real-estate agencies in
the country, and once we get this off the ground, we’re going to bring on other
real-estate agents to help sell solar,” he said.
As an emerging growth sector in 2019, solar energy has
started to attract investors seeking robust returns usually reserved for early
entrants. Combining clean-energy awareness with falling market prices, solar is
becoming more desirable and affordable, with many homeowners and business
owners choosing to go green to offset energy costs and reduce their carbon
footprint. California is making this decision even easier with its building
code that went into effect on January 1, 2020, requiring solar on all new homes
and ensuring a robust demand for solar products well into the future. SING
represents a compelling investment as the company is well-positioned to harness
these immense opportunities that reward investors with considerable growth
potential.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates
relating to SING are available in the company’s newsroom at http://ibn.fm/SING
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480.374.1336 Office
Editor@QualityStocks.com
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