SinglePoint Subsidiary Direct Solar of America Continues National Footprint Expansion

Tuesday, 25. February 2020 14:30

Adding Two Additional Markets, Minnesota and Wisconsin, focusing on Market Expansion and Continued Revenue Growth in 2020

Phoenix, Arizona, Feb. 25, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SinglePoint Inc. (OTC:SING) is pleased to announce Direct Solar of America is continuing to expand its national solar brokerage footprint meeting increased consumer and customer demand for solar solutions for their homes and businesses by announcing the addition of two additional markets, Minnesota and Wisconsin.  The Direct Solar of America model allows for national scalability which enables us to increase revenues by entering new markets without significant operational start up costs due to the leverage from our existing infrastructure. 

As reported in the Star Tribune, Legislators in Minnesota recently outlined their 2020 agenda including a requirement that all the electrical energy generated for the state come from carbon-free sources such as wind and solar power. Solar power is getting its time in the sunlight. “It’s growing at about 30 percent per year,” explained Greg Nemet, professor of public affairs at the University of Wisconsin-Madison. “There are studies that say solar could be 50 percent of our electricity within 10, 15 or 20 years.” “Solar is for real now and … people are installing solar because it’s the cheapest way to make electricity, even in a place like Wisconsin. I would expect to see more of that.”

“This is an exciting time for the company as the appetite for solar and energy storage solutions continue to rise, we look forward to continuing to add markets such as Wisconsin and Minnesota to fuel our growth in the residential and light commercial sector,” states Greg Lambrecht, Chairman & CEO of SinglePoint. “The solar and clean energy solutions (both in the Americas and globally) have undergone enormous change over the last decade and we feel the acquisition of Direct Solar of America has firmly positioned SinglePoint and its stakeholders to take advantage of the opportunities created by these changes as we move into the next 10 years that is being described as the Solar+ Decade.”

Enhanced revenue outlook, powered by solar, continues in 2020

Last week the company reaffirmed previous announcements regarding the 2019 Unaudited Gross Revenue of $2,000,000 in its residential solar business unit. It is important to note that these revenue numbers are only from the time period from acquisition, May 2019 until the end of the year and do not represent what the full annualized revenue opportunity. Direct Solar of America continues to track a minimum of $8-$10 Million in 2020 Residential Solar Sales and is on pace to meet or exceed total targeted solar bookings in February 2020.

Solar Jobs Expanding Across the United States, reflecting rapid national expansion and demand for Solar and energy storage solutions

The Solar Foundation, a nonprofit educational and research organization, issues the National Solar Jobs Census each year to provide comprehensive and reliable data on the U.S. solar workforce. Since the first Solar Jobs Census was published, American solar jobs have increased 167%, from just over 93,000 jobs in 2010 to 249,983 jobs in 2019.

This job growth reflects the rapid expansion of the U.S. solar industry, driven by the plummeting cost of solar technologies and its increased popularity among individuals, businesses, and electric utilities. In the five-year period between 2014 and 2019, solar employment increased 44%, five times faster than job growth in the overall U.S. economy.

Solar jobs also increased in 31 states in 2019, and growth well outpaced the national average in many emerging solar markets. The state with the most jobs added in 2019 was Florida, followed by Georgia, Utah, New York, Texas, Illinois, and Virginia.

Globally and Domestically Solar Energy is Huge

As recently mentioned in this Bloomberg Article, all of a sudden, solar energy is huge. In many countries around the world solar is trending to become the dominant power supply.  Globally, the Number of Megawatt projects have skyrocketed and the US is appearing to follow suit. Recently Warren Buffet’s NV Energy company received the green light to proceed with the US’s largest solar project to date. While these large scale projects continue to grow, residential and smaller commercial sized opportunities targeted by SinglePoint are becoming more abundant.

More Consumers and Businesses are going Solar

As environmental awareness becomes a priority for everyday people, solar energy has seen exponential growth. Homeowners and property owners are looking for ways to offset their own power consumption and make the move to a more green and sustainable energy source. 

As an inexhaustible resource that doesn’t produce CO2 emissions, projections for the future indicate that the solar industry will continue to thrive. More people are choosing solar power for one key reason: it has the potential to save the average household thousands of dollars. Purchasing solar panels has never been more affordable and more efficient than it is today. Solar panels are one of the most innovative technologies of our time, playing a vital role in reducing the demand for fossil fuels. 

Utilizing solar power is one of the best ways to reduce your carbon footprint as well as boost your electricity independence. The sun soaks the Earth hourly with enough light and heat to fulfill global needs for a whole year; in other words, solar radiation can satisfy our energy needs 4,000 times over.

About SinglePoint, Inc.

Founded in 2011 SinglePoint, Inc (SING) invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company portfolio currently includes solar, hemp and technology applications. SinglePoint is working to grow the company to a multinational brand.  

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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 future plans and objectives of the Company, 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.

KEYWORDS: Solar, Clean Energy, Renewable Energy, Solar Stocks, Solar Companies

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