#Solar #Stocks Snapshot
– Looking at Growth in Residential Solar Industry (OTCQB: $SING) (NASDAQ:
$SPWR) (NYSE: $NEE) (NYSE: $VSLR)
Point Roberts WA,
Delta BC – June 20, 2019 - Investorideas.com, a leading investor
news resource covering solar stocks releases a sector snapshot reporting on the continued upswing for the
residential side of the solar sector as more states adopt new energy policies
and as solar becomes more affordable and accessible to residential consumers.
Companies featured include SinglePoint Inc. (OTCQB: SING), SunPower Corporation (NASDAQ:SPWR), NextEra Energy, Inc. (NYSE: NEE) and Vivint Solar, Inc. (NYSE: VSLR).
Read
this in full at https://www.investorideas.com/news/2019/renewable-energy/06202Stocks-Solar.asp
A recent Benzinga news article looking at solar stocks quoted, “Goldman Sachs recently upgraded
residential solar stocks, which are making a big comeback so far in 2019, with
the INVESCO EXCHANG/SOLAR ETF
up 48.5% year to date. However, one Wall Street
analyst said Tuesday residential solar stocks will continue to shine in the
second half of the year.”
Goldman Sachs analyst Brian Lee commented, “We are
incrementally positive on US residential solar stocks and see a number of
tactically attractive buying opportunities ahead of 2H19 volume tailwinds and
amidst recent signs of ongoing strength in the financing environment.”
SinglePoint
Inc. (OTCQB: SING), a new player in
the solar sector recently announced that its acquisition, Direct Solar has surpassed
everyone’s expectations signing contracts to deploy $1,709,460 in solar
installs over the previous 30 days. This revenue should generate approximately
$803,769 in gross and $361,541 in net. Direct Solar and SinglePoint also
announced the official addition of three new service areas with a fourth on the
way. Tampa, Orlando and St. Louis are officially active and Miami will be
activated in the near future. The company has now deployed teams in these areas
to drive the explosive growth of Direct Solar.
From a cash flow standpoint, these numbers have quickly put
SinglePoint on the path to profitability. Management from both companies are
very excited to see the continued growth of Direct Solar through multiple
avenues including commercial. Direct Solar is currently negotiating a line of
credit for cannabis businesses and other small businesses throughout North
America. This provides Direct Solar the ability to not only generate the sale
but to also provide the financing for these business owners. Providing
financing will deliver Direct Solar another avenue towards generating profits
on the origination of the financing.
“This acquisition puts SinglePoint on a huge trajectory
path. This is not only a homerun but a grand slam in our eyes. These revenues
and profits provide SinglePoint the ability to be in a profitable cash flow
position and the opportunity to aggressively expand sales. For every dollar we
are putting into marketing we are seeing a return of five. Expanding in
additional major markets would exponentially increase the revenues on top of
the already explosive growth,” states Greg Lambrecht, CEO of SinglePoint.
SunPower Corporation (NASDAQ:SPWR) recently announced that with Hannon Armstrong Sustainable Infrastructure
Capital, Inc. and SunStrong Capital
Holdings, LLC, it has secured financing commitments for its residential
solar lease program that will help meet SunPower's expected customer demand
into 2020. SunPower has provided solar lease financing options to customers
since 2010. The attractive financing provisions with this new fund will
supplement the solar loan and cash sale alternatives currently offered by the
company.
The new fund is structured as a levered tax equity
partnership with a multi-party forward purchase commitment, allowing generation
of upfront cash margins for residential solar leases. The financing commitments
for this new fund are being provided largely from a repeat group of loan and
equity providers that continue to have strong long-term relationships with
SunPower and Hannon Armstrong.
"SunPower's strong suite of acquisition options, and
our technologically superior solar energy solutions allows us to continue
meeting growing customer demand," said Tom Werner, SunPower CEO and Chairman
of the Board. "Thanks to our financing partners who share our clean energy
future goals, we're able to ensure funding to meet the needs of those customers
who desire a leasing option."
"This latest fund continues our multi-year
programmatic investment with SunPower, helping to decarbonize the residential
sector using solar, one of the climate solutions essential to mitigating
climate change," said Jeffrey Eckel, Hannon Armstrong President and CEO.
"We are especially pleased with the expansion of SunStrong's role in this
innovative fund as it demonstrates the increased financial capabilities of this
new joint venture with SunPower."
NextEra Energy, Inc. (NYSE: NEE) recently received a
best-in-class preparedness assessment in S&P Global Ratings' Environmental,
Social and Governance (ESG) Evaluation. NextEra Energy's final ESG Evaluation
score, 86, is expected to be one of the highest rankings to be given by S&P
Global Ratings to any corporate entity within the sector. The best-in-class
preparedness assessment, which is anticipated to be applied by S&P Global
Ratings only in rare circumstances, reflects NextEra Energy's ability to
identify long-term risks and develop and implement plans to mitigate these challenges
into new opportunities, distinguishing the company from its peers amid the
disruptive forces facing the industry. S&P Global Ratings assessed NextEra
Energy's preparedness for all of the company's ESG factors as either good,
strong or leading, the top three possible scores. The report specifically
highlights NextEra Energy's clean generation profile, code and values, strong
safety management program, and leading customer engagement driven by low bills,
high reliability and outstanding customer service.
"We are pleased to be recognized for our leading ESG
efforts by S&P Global Ratings," said Jim Robo, NextEra Energy Chairman
and CEO. "We are deeply committed to doing well by doing good, and that
means respecting our environment, providing value for our customers, sustaining
our communities, focusing on continuous improvement and innovation, investing
in our team and growing shareholder value. Today, we are furthering our
commitment to the environment with the announcement of a new goal to continue
reducing our carbon dioxide emissions. This goal underscores our deep
commitment to environmental protection and stewardship, one of the key areas of
our company's sustainability efforts. At NextEra Energy, we firmly believe that
we have an unprecedented opportunity to shape how energy is produced and
delivered. By investing in smart infrastructure and innovative clean energy solutions,
we're helping build a sustainable energy future that is affordable, efficient
and clean, while at the same time creating tens of thousands of jobs and
generating economic benefits for the communities we serve."
The company also recently reported their first
quarter 2019 financial results. "NextEra Energy delivered strong
first-quarter results and is well-positioned to meet our overall objectives for
the year," said Jim Robo. "We grew adjusted earnings per share by
approximately 12% year-over-year, reflecting excellent performance across our
businesses. During the quarter, FPL successfully brought online the Okeechobee
Clean Energy Center, which is among the cleanest, most fuel-efficient power
plants of its kind in the world, on budget and ahead of schedule, and continued
to execute one of the largest-ever solar expansions. The Gulf Power integration
continues to advance well, and I am confident in our ability to execute our
plan for the benefit of customers and shareholders. NextEra Energy Resources
continues to capitalize on the best renewables development period in our
history with the addition of nearly 1,000 megawatts to its contracted
renewables backlog. Combined with the strength of our balance sheet and credit
ratings, we continue to believe NextEra Energy is uniquely positioned to drive
long-term shareholder value and remain as enthusiastic as ever about our future
prospects. I will be disappointed if we are not able to deliver financial
results at or near the top end of our 6% to 8% adjusted earnings per share
compound annual growth rate range through 2021, off the 2018 base of $7.70 per
share, plus the expected deal accretion from the Florida transactions."
Vivint Solar, Inc. (NYSE: VSLR), a leading full-service
residential solar provider, announced the closing of a multi-party
forward flow funding arrangement that includes project-level debt, a levered
tax equity partnership, and a cash equity investment. The transaction provides
up to $360 million in total funding commitments. It is structured to generate
an upfront cash margin for the company for approximately 95 to 100 megawatts of
future solar energy systems. The financing incorporates a multi-party forward
purchase commitment anchored by a levered tax equity partnership, a financing
structure used last year by Vivint Solar for the first time in the residential
solar industry.
Bank of America Merrill Lynch acted as sole structuring and placement agent for the
cash equity and multi-draw term loan as well as the sole tax equity investor.
Hannon Armstrong (NYSE:HASI) participated as the structured cash equity
investor.
"This transaction demonstrates
investors confidence in the continuing success of our business model, and its
pricing reflects the ongoing growth in revenue generated by our systems,"
said Vivint Solar CEO, David Bywater. "Investors are seeing the trajectory
of our unit economics, and we appreciate the ongoing support of Bank of America
Merrill Lynch along with Hannon Armstrong's continued programmatic
investment."
"The innovative forward flow funding
structure gives Vivint Solar financial flexibility through the cash margin
provided by this vehicle for a portion of our future PPA and lease
assets," said Vivint Solar's Chief Commercial Officer and Executive Vice
President of Capital Markets, Thomas Plagemann. "While our focus is always
on providing the best suited products for each homeowner, it is equally
important to develop a sustainable funding model so we can continue
growing."
As investors continue to gain confidence
in solar, a snowball effect of consumer awareness and cost effectiveness, even in the midst of tariff turmoil, may allow solar to continue to gain
throughout 2019 as many analysts already predict.
For
investors following solar stocks, Investor Ideas has created a stock directory of
renewable energy stocks as part of its membership. Learn more https://www.investorideas.com/membership/
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