FinancialBuzz.com News Commentary
NEW YORK, May 14, 2019 /PRNewswire/ -- Climate change has become a major topic of discussion in legislative offices around the world. The constant use of non-renewable energies such as coal and oil have caused significant harm to the Earth's environment and ecosystem. Moreover, non-renewable energies are leading to global warming, and as a result, the increased temperatures are causing polar ice caps and icebergs to melt. Subsequently, the rising ocean level is creating chaos among countries and islands that are situated on sea-level. As part of numerous government initiatives, countries are now shifting towards using renewable energies such as wind, hydro and solar power in order to combat the adverse effects of non-renewable resources. In particular, solar energy is much more sought after than other clean energies because when compared to hydro or wind power, solar energy is more commonly available around the world. Solar energy harnesses energy from the Sun's power directly through solar panels. The panels then pour the energy into storage solutions, allowing for continuous and consistent energy output throughout the day. According to data compiled by Global Market Insights, global solar energy was valued at USD 65 Billion in 2015. By 2023, the market is expected to reach USD 140 Billion. SinglePoint Inc. (OTC: SING), First Solar, Inc. (NASDAQ: FSLR), Canadian Solar Inc. (NASDAQ: CSIQ), SolarEdge Technologies, Inc. (NASDAQ: SEDG), Enphase Energy, Inc. (NASDAQ: ENPH)
Primarily, the solar energy industry is split into two sectors: photovoltaic and concentrated thermal power. Photovoltaic devices generate electricity directly from the sunlight through semiconductors. On the other hand, concentrated thermal power plants use mirrors to concentrate the Sun's energy to drive traditional steam turbines or engines in order to produce electricity, according to the Solar Energy Industries Association. On an international-basis, many countries, such as China, the United Kingdom, Germany, France, and the U.S. have already established solar energy plants. Moreover, regions such as the Middle East and Africa are expected to grow within the solar industry due to the rising electricity prices and government subsidies. Notably, the Paris Agreement is a global initiative signed by 179 parties in order to fight against climate change and adapt to its effects. The Paris Agreement central aim is to strengthen the global response to the threat of climate change by keeping the global temperature increase well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius, according to the U.N. for Climate Change. Due to declining prices of silicon solar panels and a global push for clean energy, the solar energy market is positioned to witness a bright future ahead. In the most optimistic scenario, solar generation is expected to increase by 16-hold between 2016 to 2040, according to data by the International Energy Agency. "The number of homes with solar will tick up pretty quickly," said Justin Baca, Vice President of Markets and Research for Solar Energies Industries Association. "We're personally looking forward to a day when solar is as ubiquitous as AC."
SinglePoint Inc. (OTCQB: SING) just announced breaking news this morning that, "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 markets. According to Hexa Research the solar market is expected to reach 20.09 Billion USD by 2025. Direct Solar provides a Lending Tree/Rocket Mortgage way for customers to asses 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 ability to scale beyond initial projections and truly make a impact on SinglePoints 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 million 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
"We are excited to officially be a part of SinglePoint. The access to growth capital will allow us to scale quickly and turn the processes we have built into revenue generating opportunities. We signed over 500,000 dollars of contracts in April with very little marketing a sales budget. With the back and support of SinglePoint we believe we can exponentially increase our sales pipeline," states Pablo Diaz Founder/CEO of Direct Solar.
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 over all. In Q4 2018, the U.S. 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 system is gaining popularity in the U.S. 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 decrease the overall energy intensive indoor cultivation of cannabis.
About SinglePoint, Inc. - SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry."
First Solar, Inc. (NASDAQ: FSLR) is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced module and system technology. Recently, First Solar's Series 6 thin film photovoltaic (PV) module technology has met completion criteria in the newly published CSA/ANSI C450, PV Module Testing Protocol for Quality Assurance, administered by CSA Group's PV test lab, CFV Solar Test Laboratory in Albuquerque, New Mexico. The test results provide confidence in the harsh climate durability and long term performance of Series 6 modules. Elaborating on the benefits of the standard to the PV industry, Parmenter said CSA/ANSI C450 consists of a portfolio of extended environmental tests including temperature cycling, damp heat exposure, mechanical load testing, UV exposure and PID (Potential Induced Degradation) testing. The test protocols were established because of their effectiveness in replicating actual field failure experiences. "This is a significant milestone demonstrating the robustness of our technology. Our relentless pursuit of rapid innovation and evolutionary design has paid off with a unique market offering that enables maximizing value and reducing risk," said Lou Trippel, First Solar's Vice President of Product Management. "These latest Series 6 durability results continue First Solar's industry leadership in the areas of product durability and reliability."
Canadian Solar Inc. (NASDAQ: CSIQ) was founded in 2001 in Canada and is one of the world's largest and foremost solar power companies. Canadian Solar Inc. recently announced its first solar power project of 68 MWp in Mexico started commercial operations in January 2019. The solar plant, located in Aguascalientes, Mexico, is powered by over 200,000 Canadian Solar high-efficiency poly modules CS6U-P. The plant will generate 145 gigawatt hours (GWh) of electricity annually, enough to power 20,690 households and offset 72,700 tons of carbon dioxide emission each year. In addition to that, a total of 535 jobs were created during the PV plant construction and more than 15 new jobs are expected to be created for operations and maintenance during the upcoming 20 years the plant is in operation. Canadian Solar will provide operations and maintenance services to the plant. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, "Achieving commercial operations for the Aguascalientes project is a significant milestone for Canadian Solar. This definitely strengthens our position as a leading solar project developer in Mexico and Latin America. Mexico is a very important new market for us where we started solar project development business three years ago. We have a remaining pipeline of 368 MWp of solar projects in Mexico with awarded power purchase agreements. Construction of these late-stage projects will soon start and commercial operations will be achieved in 2020."
SolarEdge Technologies, Inc. (NASDAQ: SEDG) is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation. Recently, SolarEdge Technologies, Inc. previewed at Solar Power International a suite of inverter solutions for new home construction, to meet California's Title 24. The smart solar suite for new homes is comprised of three different modular, versatile, and upgradeable solutions that meet the needs of any building concept while complying with the new regulation. Offering varying entry levels and upgrade options, each solution is scalable to meet future customer needs. The higher-grade offerings are based on SolarEdge's single-phase inverter with HD-Wave technology and residential power optimizers and enable several upgrade packages, including EV-charging, battery storage and backup, and home energy management. This package is also expandable to support additional modules. The basic package includes a single-phase inverter and a power optimizer with compact technology, which connects to 4-8 modules. This basic offering can be upgraded to include cellular connectivity and consumption metering. "California's Title 24 represents an excellent opportunity to bring smart solar energy into the everyday lives of more people. SolarEdge is aiming to drive the adoption of solar by creating a new standard in smart energy homes, which combine solar with battery, EV-charging, monitoring, and more," stated Peter Mathews, General Manager North America. "Our suite of solutions is designed to help builders generate additional revenue streams and differentiate their businesses."
Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage, and management on one intelligent platform. Enphase Energy, Inc. recently announced that the Company has entered into a multi-year supply agreement with Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) for its power transistors developed using CoolMOS™ C7 Gold (G7) superjunction MOSFET technology. The agreement is expected to provide Enphase with an increased supply of high-voltage power transistors starting in the second half of 2019. The high demand for power transistors from the electric vehicle (EV) industry has created industry-wide shortages, impacting Enphase's revenue and gross margin in the past two quarters. With this agreement, Enphase now has access to a dedicated source for 600 V power transistors, backed by a very efficient supply chain. The four Infineon 600 V CoolMOS™ G7 Power Transistors used in the AC output stage of seventh-generation Enphase IQ™ microinverters enable extremely reliable, high-performance power switching. "This agreement allows us to support the increased demand for Enphase's advanced solar microinverters," said Dr. Steffen Metzger, Senior Director and Product Segment Head high-voltage conversion at Infineon Technologies AG. "Infineon continuously invests in leading-edge technologies and significant production capabilities such as 300-millimeter wafers. Renewable energies and efficient power conversion are focus applications for Infineon. A close cooperation in technology roadmaps and long-term supply between Infineon and key customers like Enphase enables long-term success for both parties."
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