U.S. Solar Market Growing Exponentially Predicted to Double Within 4 Years

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, May 16, 2019 /PRNewswire/ -- It took the U.S. solar industry over 40 years to reach 1 million installations a level it reached three years ago. Today, the U.S. solar market is now over 2 million installations, and forecasts expect solar installations to double by 2023, according to Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA). Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world's natural resources sector. Wood Mackenzie forecasts that there will be 3 million installations in 2021 and 4 million in 2023, continuing the swift rise of solar. This rise in solar installations this year is being driven in large part by falling costs. Residential solar installation prices moved down from $6.65 per watt for a residential install in 2010 to $2.89 per watt in 2018. The report continued: "According to our latest forecasts, by 2024, there will be on average, one solar installation per minute," said Michelle Davis, Senior Solar Analyst with Wood Mackenzie. "That's up from one installation every 10 minutes in 2010." Active Companies from around the market with current developments this week include: Singlepoint, Inc. (OTC: SING), SunPower Corporation (NASDAQ: SPWR), JinkoSolar Holding Co., Ltd. (NYSE: JKS), SolarEdge Technologies, Inc. (NASDAQ: SEDG), Enphase Energy, Inc. (NASDAQ: ENPH).

"Our nation is harnessing homegrown sunshine at scale to lower electric bills, create jobs, reduce harmful pollution, and build a brighter future for our children and grandchildren," said Adam Browning, executive director of Vote Solar. "This remarkable progress is a true American success story made possible by customers, workers, policymakers, advocates and innovators. It shows us both what's possible and how much farther we can go when it comes to an urgent transition to clean energy."  "Today, the 2 million residential, commercial, and utility-scale solar installations produce enough electricity each year to power more than 12 million American homes. By 2024, 2.5% of all US homes will have a solar installation. The total amount of solar generating capacity that goes along with the 2 million solar installations has now eclipsed 70 gigawatts." 

Singlepoint, Inc. (OTCQB: SING) BREAKING NEWS: Singlepoint completes Asset Acquisition of Direct Solar, SinglePoint Largest Deal to Date Expects to Dramatically Increase Revenues. Direct Solar operates on a Lending Tree/Rocket Mortgage model in which the company provides the homeowners which options for installers that service their area and the loan programs they have access to. This allows for the company to expand throughout the US and globally. With the backing of SinglePoint Direct Solar will have the ability to quickly scale into new markets and establish the company's foothold in the Solar market.

Video Introducing Direct Solar - https://www.youtube.com/watch?v=jl0u8eZpUrI&t=1s

"This acquisition will securely place SinglePoint on a new path towards growth, revenue and overall profitability. We believe Direct Solar has the people and the ability to scale beyond initial projections and truly make an impact on SinglePoint's 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 millions along with profitability. This acquisition is a new opportunity and puts SinglePoint on a whole new trajectory path," states Greg Lambrecht, CEO of SinglePoint.

Singlepoint issues 10Q – Get the latest Filing Here: https://www.otcmarkets.com/stock/SING/disclosure

"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 570,000 dollars of contracts in April with very little marketing per sales budget. With the backing and support of SinglePoint we believe we can exponentially increase our sales pipeline," states Pablo Diaz Founder/CEO of Direct Solar. Read this and more news for SING at: https://www.financialnewsmedia.com/news-sing

In the industry developments and happenings in the market this week include: 

SunPower Corporation (NASDAQ: SPWR) recently announced financial results for its first quarter ended March 31, 2019. "We executed well as we met or exceeded our key financial guidance metrics for the first quarter while laying the foundation for improved profitability in the second half of the year," said Tom Werner, SunPower CEO and chairman of the board. 

"Demand in our global DG business remains strong and we expanded shipments into the international power plant market. In the first quarter, we introduced exciting new products in both the upstream and downstream parts of the value chain. Upstream, we introduced a new portfolio of residential Maxeon and P-Series panels for both U.S. and international residential markets and we are already seeing significant demand for these new products in our global DG business. We also began shipment of P-Series panels from our Oregon factory and the ramp of our 25 percent efficient Maxeon Gen 5 cell technology in Fab 3 is continuing. In our downstream business we unveiled a revolutionary online, instant design platform for our North American residential market that will improve customer experience while reducing costs.

JinkoSolar Holding Co., Ltd. (NYSE: JKS)  one of the largest and most innovative solar module manufacturers in the world, recently officially launched the latest addition to the Company's range of premium Cheetah products, the "Swan" bifacial module with new DuPont Clear DuPont™ Tedlar®-based backsheet on May 15th at Intersolar Europe 2019. The global launch was done in collaboration with DuPont and PV Magazine.

The Swan module represents the next iterative development in bifacial power generation as it gradually becomes a mainstream technology. By combining high-efficiency mono PERC Cheetah bifacial cells and clear DuPont™ Tedlar® film for backsheets, Swan modules can achieve power output of up to 400W on the front side and up to 20% energy gain from the rear side. Leveraging the transparent backsheet, Swan bifacial panels can produce the same power output levels and rear-side energy gain as dual-glass bifacial modules, weigh less, are easier to install and include a 30-year power warranty. In addition, they can generate more BOS cost savings due to their lower weight and decreased cost of installation and mounting which helps them generate higher IRR and lower LCOE for bifacial module PV projects.

SolarEdge Technologies, Inc. (NASDAQ: SEDG) a global leader in smart energy, recently announced that it will be expanding its StorEdge solution with the launch of new inverters optimized for the combined management of solar, storage, and home energy. The company will also preview its own commercial and residential batteries to complement its smart solar energy portfolio.

The StorEdge expansion will include three new additions to the solution portfolio. In June of 2019, SolarEdge will introduce to the market a single phase inverter with HD-Wave technology that integrates the management of solar, storage, and home energy into one inverter. The combination of all of these functions into one inverter will simplify installation, improve system RoI, and increase self-consumption. A second enhancement to StorEdge is the planned addition of a three phase inverter that can be DC coupled to one or more 48V batteries to support the growing European solar-plus-storage residential market. The third addition to be showcased at InterSolar are the SolarEdge commercial and residential batteries, which will be added to the StorEdge offering in order to provide a comprehensive storage solution. Committed to providing flexible solar-plus-storage installation options, SolarEdge batteries are expected to be available worldwide in the beginning of 2020 and the company will continue to support StorEdge's compatibility with multiple battery vendors.

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of solar microinverters, announced recently financial results for the first quarter of 2019, which included the summary below from its President and CEO, Badri Kothandaraman. Our first quarter revenue was $100.2 million, an increase of 9% sequentially and an increase of 43% year-over year. We shipped approximately 306 megawatts DC, or  976,410 microinverters. We continued to see strong demand across the board from our customers, overcoming the typical first quarter seasonality in the solar industry.

We experienced component shortages which constrained our revenue in Q1'19. The capacity we paid for in May 2018 came online in Q1'19. We expect to get additional supply from our multi-year agreements for high-voltage power transistors; some of this supply is expected in Q2'19 and most of it is expected in the second half of 2019. Read more here

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