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Point Roberts, Washington and Delta, British Columbia–(Newsfile Corp. – April 27, 2022) – Investorideas.com, a number one investor information useful resource protecting solar and sustainable energy shares releases a particular report that includes SinglePoint, Inc. (OTCQB: SING), on the expansion development in residential solar and the way that is linked to total progress in solar energy adoption and energy independence.
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https://www.investorideas.com/News/2022/renewable-energy/04270Energy-Independence.asp
The international solar power market dimension was USD 170.55 billion in 2020. According to a current report revealed by Fortune Business Insights, the worldwide solar power market is projected to succeed in USD 293.18 billion by 2028, exhibiting a CAGR of 6.9% throughout the forecast interval. Increasing Rooftop solar panels demand for business functions and residential use to gas the worldwide solar power market progress.
Overall, the US residential solar market expanded by nearly 30% year-on-year to a report 4.2 GW in 2021, at the same time as installers confronted plenty of headwinds, together with provide chain difficulties, rising system costs and Omicron-related labor shortfalls.
SinglePoint, Inc. (OTCQB: SING), a renewable energy and sustainable options supplier, not too long ago introduced the closing of The Boston Solar Company, LLC acquisition. Boston Solar is a number one solar installer primarily based in Massachusetts, reserving $17.7m in income for FY2021. It is estimating revenues of no less than $25m in 2022, with greater than $16m already contracted and within the set up pipeline. Boston Solar is the primary of a number of acquisitions the corporate intends to shut this yr. Closing this acquisition begins the timeline for SinglePoint to start out its up-listing utility course of to realize the objective of a NASDAQ itemizing in 2022.
“Boston Solar has been serving the New England market, primarily in Massachusetts, since 2011 and we are proud to have been selected by the Boston Red Sox to install a solar system at the new MGM Music Hall at Fenway. We pride ourselves on exceptional customer service and we plan to continue our operations in that manner as we expand our offerings, with the support of SinglePoint,” stated Mr. Mello Guimaraes, CEO of Boston Solar.
“This acquisition by SinglePoint strategically aligns with the growth plan we had in mind for Boston Solar. We spent the last several months ensuring we had synergy with the overall mission and vision of SinglePoint. Our shared values and corporate culture will drive exponential growth and expansion. Through Boston Solar and our strong foothold in Massachusetts, we have multiple accretive acquisitions identified that we will be pursuing,” concluded Mr. Guimaraes.
SinglePoint plans to proceed increasing its operational footprint because it acquires extra full service solar EPC (Engineering, Procurement & Construction) corporations all through the nation. The Company is concentrating on established solar corporations in particular markets that may complement one another and yield synergies and economies of scale. The Company’s acquisition plan will develop the income and revenue base and can place SinglePoint for vital progress going ahead. With current authorities funding initiatives introduced and periodic interruptions to the power grid, householders, enterprise house owners and small business house owners are looking for methods to make sure that they’ve entry to fixed and reliable power.
“The addition of Boston Solar is a milestone for SinglePoint,” acknowledged Wil Ralston, CEO of SinglePoint. “This acquisition moves us in the right direction to achieve our goals of building the nation’s leading solar services network. As the electrification of everything continues and the importance of obtaining consistent and reliable energy access, we see a long-term future for solar, EV Charging and Energy Storage. We are excited to welcome Boston Solar and their entire experienced professional team. With this acquisition we are addressing the massive residential opportunity with the leading residential company in the New England area which shares the common core values of providing best in class customer service and honest treatment of all customers across the board as evidenced by their impressive business history in the market and positive customer reviews.”
Solar energy accounted for 46% of all new electrical energy generated in 2021 and the market is predicted to develop at 10% CAGR over the following 5 years as per the most recent report by Technavio. Solar and the Renewables market, together with Energy Storage and EV Charging, is a long-term alternative as the present addressable marketplace for residential and small business market penetration stays largely underserved with reportedly lower than 4% of the market lined. Over the final decade solar pricing has drastically decreased, making the transition to solar extra economically enticing to customers. Lower costs, coupled with demand for energy independence and resilience, units the stage for SinglePoint to ascertain market management inside the renewable energy area.
SinglePoint has established rigorous standards for future acquisitions as they broaden their attain and enhance worth for purchasers, the enterprise, and their shareholders. Over the following 18 months, the Company plans so as to add extra prime quality regional installers to construct out a nationwide community of service suppliers. The Company goals to be the only level of contact to assist householders and enterprise house owners as they transfer towards using renewable energy sources, from solar panels on the roof, to energy storage, and the EV charger within the storage. SinglePoint and its subsidiaries would be the premier possibility with white glove service and lifelong relationships.
Sunlight Financial, a premier, technology-enabled point-of-sale financing firm can be aiming at increasing residential solar networks having not too long ago introduced a brand new suite of 30-year mortgage merchandise for residential solar. Available at Annual Percentage Rates (APRs) of 1.99%, 2.99%, and three.99%, Sunlight’s 30-year loans scale back month-to-month funds for residential solar programs, making solar extra inexpensive and accessible. Hundreds of Sunlight set up companions nationwide now supply Sunlight’s 30-year loans to their prospects.
“Sunlight enables a homeowner to finance a residential solar system in the same way they likely financed their home – with a 30-year loan,” stated Matt Potere, CEO of Sunlight Financial. “The 30-year mortgage is by far the most popular home loan, which is why Sunlight is excited to be the first company to enable installers nationwide to offer 30-year solar loans. Our latest product enhancement will reduce monthly payments, facilitating homeowners’ transition to clean and affordable renewable energy.”
From the information: Sunlight’s digital, end-to-end point-of-sale platform delivers instantaneous credit score selections and automatic mortgage processing and funding, making a seamless course of for the sale of residential solar programs and different home enhancements. Through considerate danger administration, Sunlight has delivered excellent mortgage efficiency and industry-leading credit score high quality to its various set of capital suppliers. The greater than 160,000 solar programs financed via Sunlight’s proprietary expertise platform, Orange®, as of December 31, 2021 will produce sufficient solar energy to keep away from the emission of practically 28 million metric tons of carbon dioxide into the environment.
Maxeon Solar Technologies, Ltd., a worldwide chief in solar innovation and channels can be taking a look at new partnerships to enhance its protection having introduced a brand new partnership with main software program supplier, OpenSolar to offer its trusted installer community with Maxeon’s SunPower Design, an unique software program device with unmatched design accuracy and pace. As a consequence, Maxeon’s installer community can design the {industry}’s most correct proposals in a matter of minutes, offering their prospects with optimum customer support whereas maximizing their workflow efficiencies. Maxeon’s SunPower Design enhances the brand new suite of instruments out there to installers affiliated with Maxeon. In addition to Maxeon’s SunPower Design, the primary launch of this new suite consists of superior education schemes, built-in on-line ordering together with logistics updates, in addition to advertising and marketing instruments and branded merchandise.
“The new digital tools are the cornerstone of our customer-centric business transformation, focused on providing a better experience as well as simplifying the buying process for our trusted channel partners,” stated Mark Babcock, Chief Revenue Officer of Maxeon Solar Technologies. “We are working hard to deliver a comprehensive, easy-to-use platform to service our channel partners’ most pressing needs and solve their pain points so that they can focus on their core business. We expect our digital toolkit to become, release after release, a true virtual assistant for our installers, delivering the right information at the right time to gain efficiency in their sales, procurement and installation processes.”
From the information: Highlighting OpenSolar partnership strengths, Ralf Elias, Chief Product Officer of Maxeon Solar Technologies, stated, “The combined effort with OpenSolar in particular allows us to offer industry-leading software specifically customized to emphasize the value that our premium panel technology can deliver to end customers in the long term, further helping our partners to differentiate from the competition. We expect OpenSolar capabilities to enable us to quickly deploy a new powerful tool to hundreds of installers globally and help them to scale fast in such a pivotal time for the energy transition.”
In a Renewablesnow current information article, it was reported that Sunrun Inc remained the highest installer within the US residential solar marketplace for the fifth yr working in 2021, though its market share declined for the second consecutive yr, contracting to 13% by nearly some extent since 2020.
Continued: This follows Sunrun’s current launch of its 2021 Impact Report, accelerating progress and setting bold targets for main on Environmental, Social and Governance (ESG) initiatives. Notable achievements included offering over $800 million in energy price financial savings to prospects; rising gender and Black, Indigenous, and People of Color (BIPOC) illustration all through the corporate; and Sunrun solar programs producing 20 billion kilowatt-hours of unpolluted energy since 2007, serving to keep away from roughly 11.2 million metric tons of carbon dioxide equal (CO2e)-the equal of taking 2.4 million vehicles off the highway for a yr.
Continues: Other gamers are additionally experiencing vital progress similar to California-based Freedom Forever, which grew its set up volumes by 80% in 2021 and captured 3.9% of the market, overtaking Tesla Inc because the quantity three installer.
Continues: The analyst agency expects Tesla to maintain transferring down installer rankings over the following quarters as the corporate shifts its enterprise mannequin in direction of a full-suite expertise provider and will get extra depending on subcontractors for solar installations, stated Wood Mackenzie analysis affiliate Caitlin Connelly.
As the general solar {industry} continues to broaden resulting from rising energy calls for, the enhancements in energy effectivity via new expertise, in addition to the decrease price of solar manufacturing, are driving this {industry} into all networks of life which is nice information for residential areas with excessive solar potential. Some corporations up to now targeted on residential too early and prospects skilled poor installations and inconsistent energy manufacturing, however because the business aspect of the {industry} has superior, residential areas can now begin to profit from in the present day’s superior solar grids. The future is wanting vivid for solar.
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