Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - June 24, 2019) - - June 24, 2019 - Investorideas.com, a leading investor news resource covering solar stocks releases a sector snapshot reporting on the continued growth in solar installations in both residential and commercial zones as more businesses and consumers realize the benefits of solar and as it becomes more readily available and affordable for both.
Featured solar stocks include Singlepoint Inc. (OTCQB: SING) through its subsidiary Direct Solar, Vivint Solar Inc.(quote), Sunworks, Inc. (quote) and SunPower Corporation (quote).
SolarPower.com recently reported "In the first three months of the year, the U.S. installed 2.7 gigawatts of solar PV, making it the most solar ever installed in the first quarter of a year. With the strong first quarter, Wood Mackenzie Power & Renewables forecasts 25% growth in 2019 compared to 2018, and it expects more than 13 GWDC of installations this year, as reported in its new U.S. Solar Market Insight Report."
"The first quarter data and projections for the rest of the year are promising for the solar industry," said Abigail Ross Hopper, President and CEO of the Solar Energy Industries Association. "However, if we are to make the kind of progress we need, to make the 2020's The Solar Decade, we will need to make substantial policy and market advances."
A new survey, conducted by CITE Research on behalf of Vivint Solar Inc.(quote) revealed 70% of American adults said they would support a nationwide mandate requiring solar panels to be installed on all newly built homes. The survey also revealed significant others and environmental experts are the most influential when deciding to install residential solar for the good of the environment, while politicians are the least influential by far.
Direct Solar involved in residential and commercial solar, and a wholly owned subsidiary of Singlepoint Inc. (OTCQB: SING) announced that the company is developing a commercial solar lending solution. The solution will serve customers that own and/or manage commercial properties. This is a massive market opportunity that the commercial space is looking for.
Direct Solar will be one of the first companies to offer this type of lending solution and is expected to launch in the next four to six weeks.
"Currently there are a lot of residential lending solutions as well as large scale lending for solar farms and high megawatt projects. We have yet to find a solution that will finance projects in the small to medium commercial space. Our financing solution will provide these customers with quick funding turn around and require no personal guarantees. We believe there is enough projects for us to turn $100 Million dollars in lending over the next 9-12 months," states Pablo Diaz, Founder & CEO of Direct Solar.
Offering this new financing solution will provide Direct Solar with addition revenue and cash flow, as the company will be receiving commissions on each project that is funded as well as commission on the installation.
"This is a massive opportunity to fill a huge gap in the market. There has not been a solution we've found like ours simply because the current model means you are either a lender or installer. Direct Solar being one of the only solar brokers in the market means we can work with the customer to find the right installer and the right lender. Matching these two together is a win-win for everyone involved," states Brian Odle, National Finance Director of Direct Solar.
Coming off of a major month (May 15, 2019 - June 15, 2019), Direct Solar closed $1,709,460 in solar installs. This revenue should generate approximately $803,769 in gross and $361,541 in net. Additionally, the company added three new major service areas with a fourth on the way. This has all been residential driven. The addition of the commercial solar opportunity should dramatically increase the quick growth the company has already been experiencing.
These numbers put Direct Solar on the path to profitability from a cashflow standpoint very quickly. Management from SinglePoint and Direct Solar are very excited to see the continued growth of the solar business through multiple avenues, including commercial.
"This acquisition puts SinglePoint on a huge trajectory path. The solar market is on an extreme growth trajectory and Direct Solar has planted its foot right in the middle of it. Providing installers and financers with qualified customers, while providing these customers a streamlined process for purchasing solar," states Greg Lambrecht, CEO of SinglePoint.
These early growth numbers paint a very obvious picture as to where American's see the future of US energy heading, but we will still have to wait and see if 2019 is in fact going to continue with this first quarter solar trend.
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