- EIA forecasts renewables as fastest-growing source of energy generation in the United States
- SinglePoint subsidiary expected to see continued success alongside the growth of the solar market
- After companies exceed 2019 expectations, SING and Direct Solar management teams are optimistic about 2020
SinglePoint Inc. (OTCQB: SING), a technology investment company focusing on acquiring subsidiaries that would benefit from assistance with management, capital and technology integration, truly hitched its cart to the right horse with its investment in subsidiary Direct Solar. A residential and commercial solar broker, Direct Solar was acquired by SinglePoint in 2019. Since the acquisition, the company has exceeded revenue growth targets, helping SinglePoint achieve record-breaking financial milestones and proving the partnership to be mutually beneficial.
Renewable energy solutions have become increasingly mainstream in recent years. Recent United States Energy Information Association (EIA) forecasts predict that nonhydroelectric renewable energy resources will be the fastest-growing energy sources in the United States for at least the next couple of years. (http://ibn.fm/X46NI). As the nation’s reliance on renewable energy grows, so does the success of Direct Solar and SinglePoint.
After outstripping biomass in 2017, solar has become the third-largest renewable energy source in the U.S. power industry. Changes in environmental regulations have steered the U.S. power sector away from coal power plants, opening up more room for companies such as Direct Solar to capture a larger portion of the energy market.
As the future of energy continues to point towards renewable sources such as solar, Direct Solar is in a prime position to increase sales in the coming years. The global market for solar panels was $30.8 billion in 2016 (http://ibn.fm/ggDgE), and experts expect this market to hit $57.3 billion by 2022, anticipating a CAGR of 10.9% between 2017 and 2022.
SinglePoint seeks out undervalued companies that the company can equip with resources needed to achieve their full potential, which is exactly what it has done with Direct Solar. Direct Solar continues to report major increases in contracts every month, and the SING team expects this number to grow substantially in 2020. SinglePoint CEO Greg Lambrecht predicted the company’s increased profits in 2019 (http://ibn.fm/0513T), and he echoes that optimism looking forward into 2020. Lambrecht assures investors and potential investors that the stock price will soon reflect the company’s growing success.
SinglePoint provides investors with an opportunity to diversify their money across a wide range of dynamic industries, including renewable energy, cannabis and payment processing. The company is particularly interested in new technologies that can lead to quick and healthy gains. SING is led by founder and CEO Lambrecht, who employs an aggressive expansion strategy centered on key acquisitions and multiple joint ventures. The company began as a full-service mobile technology provider but is now a diversified holding company.
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