- SinglePoint CEO says company set out to harness robust solar-energy growth through acquisition of Direct Solar America
- SING expects to break even in 2019; see significant increase in revenue, profitability in 2020
- Solar energy sector is one of fastest-growing; fueled by strong demand and push for carbon-print reduction
In an interview with MoneyTV’s Donald Baillargeon, SinglePoint Inc. (OTCQB: SING) CEO Greg Lambrecht discussed how the company is poised to harness renewable energy growth in 2020 and beyond.
A diversified holding company, SING specializes in acquisitions of small to mid-sized companies, helping those companies become multinational brands while providing investors with the opportunity to make investments across a wide range of assets and industries. As SinglePoint continues to capture opportunities through an ambitious expansion strategy across a broad range of high-potential companies, the company has entered the lucrative renewable energy sector by acquiring Direct Solar America, a national solar-energy brokerage.
The renewable energy sector – and solar in particular – is continuing to demonstrate a bullish outlook backed by the increasing appetite of both residential and commercial consumers for solar-power alternatives to cut their energy costs. The International Energy Agency found that solar, hydropower and wind projects are rolling out at the fastest pace in four years (http://ibn.fm/hJgjP). The agency is also predicting that renewable electricity is expected to grow by 1,200GW in the next five years – the equivalent of the total electricity capacity of the United States.
“Momentum is building for solar; we are excited,” Lambrecht stated in the interview. “We were at the right spot at the right time. We are getting our financials done for our year-end audit, and I can’t really talk about it until it’s audited, but I can estimate that we are looking at $3–$3.5 million, which is way up from last year,” he continued, alluding to the high growth potential of the renewable energy business.
The Solar Energy Industries Association is predicting that the industry will become the dominant source of new electricity generation, calling the next decade the Solar+ decade as collaborations such as Solar + Storage, Solar + Grid Modernization, Solar + Diversity, Solar + Trade, and Solar + Finance will shape the future of energy in America (http://ibn.fm/vqtYs).
SinglePoint is seeing this predication come true. The company recently announced a deal with a major real-estate agency, My Home Group, one of the fastest-growing real-estate companies in the country with 2,300 agents. “Also, I have connections to other large real-estate agencies in the country, and once we get this off the ground, we’re going to bring on other real-estate agents to help sell solar,” he said.
As an emerging growth sector in 2019, solar energy has started to attract investors seeking robust returns usually reserved for early entrants. Combining clean-energy awareness with falling market prices, solar is becoming more desirable and affordable, with many homeowners and business owners choosing to go green to offset energy costs and reduce their carbon footprint. California is making this decision even easier with its building code that went into effect on January 1, 2020, requiring solar on all new homes and ensuring a robust demand for solar products well into the future. SING represents a compelling investment as the company is well-positioned to harness these immense opportunities that reward investors with considerable growth potential.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://ibn.fm/SING