Boston, Massachusetts--(Newsfile Corp. - June 11, 2024) - SinglePoint Inc (CBOE: SING), is pleased to announce its subsidiary Boston Solar, a Proud Partner of the Boston Red Sox and leader in the renewable energy sector, proudly announces the completion of its 6,000th residential solar system installation. This significant achievement underscores the Company's commitment to sustainable energy solutions and its role in advancing the adoption of clean, renewable energy across the region.
Since its inception Boston Solar has been at the forefront of the solar energy revolution, providing homeowners with innovative and efficient solar solutions that not only reduce energy costs but also contribute to a healthier environment. The installation of the 6,000th solar system marks a major milestone in the company's mission to promote sustainability and energy independence for all.
"We are thrilled to reach this landmark of 6,000 residential solar installations," said Michael Morlino President, Boston Solar. "This accomplishment is a testament to the hard work and dedication of our team, as well as the growing awareness and commitment of homeowners to embrace renewable energy. Each installation brings us one step closer to a greener future, and we are excited to continue driving the adoption of solar energy in communities nationwide."
The solar industry has been seeing monumental growth and attention. The industry has now surpassed 5,000,000 residential homes with residential solar market penetration at approximately 7%. This leaves a long runway for companies like Boston Solar to continue installing residential and small commercial solar systems throughout the US.
In addition to reaching this milestone, Boston Solar remains dedicated to advancing solar technology and expanding its offerings to meet the diverse needs of homeowners. The Company continues to enhance the efficiency of its business units and drive towards operational profitability. Initiatives to date have reduced overhead by approximately $3,000,000, improved residential installation throughput resulting in improved cashflow and increased commercial solar opportunities which would result in additional revenue and profitability upon completion of projects.
"I am grateful for the effort and commitment our teams have shown. For those in the industry it is no secret it has been a tumultuous two plus years and the fact our companies have fundamentally improved in this extremely tough environment is a testament to their fortitude and strength. Over the remaining half of the year we will continue to work towards improving our cash position, reduce our cost of goods and further enhance the business units to achieve cashflow positive operations and ultimately profitability," adds Wil Ralston CEO SinglePoint Inc.
About Boston Solar Boston Solar is a subsidiary of SinglePoint Inc. (CBOE: SING) Since its founding in 2011, Boston Solar has installed more than 5,000 residential and commercial solar arrays, powering thousands of homes and businesses in New England, primarily in Massachusetts. The mission of Boston Solar is to provide superior clean energy products, exceptional customer service, and the highest-quality artistry in residential and commercial installations.
Boston Solar has accumulated several distinctions of recognition of the company's outstanding:
Honored with the 2020 Guildmaster Award from GuildQuality, the award acknowledged how Boston Solar demonstrated exceptional customer service within the residential construction industry.
Named a Top Solar Contractor by Solar Power World magazine for five consecutive years.
Applauded by the Boston Business Journal's "Largest Clean Energy Companies in Massachusetts" list.
Boston Solar is a Solar Energy Business Association of New England (SEBANE) member. Learn more at: www.bostonsolar.us
About SinglePoint Inc.
SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com).
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the use of proceeds, anticipated growth and future expansion, are forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
