Investors Profiting
with #Solar #Stocks as Residential and Commercial Solar see Bullish 1st Quarter
– (OTCQB: $SING) (NYSE: $VSLR) (NASDAQ: $SUNW) (NASDAQ: $SPWR)
Point Roberts WA,
Delta BC – June 24, 2019 - Investorideas.com, a leading investor
news resource covering solar stocks releases a sector snapshot reporting on the continued growth in solar
installations in both residential and commercial zones as more businesses and
consumers realize the benefits of solar and as it becomes more readily
available and affordable for both.
Featured solar stocks include Singlepoint Inc. (OTC: SING) through its subsidiary Direct Solar, Vivint
Solar Inc. (NYSE: VSLR), Sunworks, Inc. (NASDAQ: SUNW) and SunPower Corporation (NASDAQ: SPWR).
Read
this in full at https://www.investorideas.com/news/2019/renewable-energy/06241ResidentialCommercial-Solar.asp
SolarPower.com recently reported “In the first three months of the year, the U.S.
installed 2.7 gigawatts of solar PV, making it the most solar ever installed in
the first quarter of a year. With the strong first quarter, Wood Mackenzie
Power & Renewables forecasts 25% growth in 2019 compared to 2018, and it
expects more than 13 GWDC of installations this year, as reported in
its new U.S. Solar Market Insight Report.”
“The first quarter data and projections for the rest of
the year are promising for the solar industry,” said Abigail Ross Hopper, President
and CEO of the Solar Energy Industries Association. “However, if we are to make
the kind of progress we need, to make the 2020’s The Solar Decade, we will need
to make substantial policy and market advances.”
A new
survey, conducted by CITE Research on behalf of Vivint Solar Inc. (NYSE: VSLR), revealed 70% of American adults said they
would support a nationwide mandate requiring solar panels to be installed on
all newly built homes. The survey also revealed significant others and
environmental experts are the most influential when deciding to install residential
solar for the good of the environment, while politicians are the least
influential by far.
"California
was the first state to pass a solar panel mandate on new homes and it goes into
effect in 2020. We've seen that state often lead the way in establishing
environmental practices nationwide," said David Bywater, CEO of Vivint
Solar, which has installed solar energy systems on more than 160,000 US homes.
"We believe more states will make strides to adopt residential solar
requirements, and it's great to see the vast majority of American adults
support this, even at a nationwide mandate level. With nearly a million new
single-family homes built annually, if all of them took advantage of solar
energy, it would be equivalent to driving 12 billion fewer miles a year or
consuming 12 million fewer barrels of oil.”
Among
those who support a nationwide solar mandate, 32% said they strongly support it
and 38% said they somewhat support it, while approximately 16% said they
somewhat oppose it and 14% said they strongly oppose it. While there was no
significant difference in attitudes between men and women, opinions varied
based on region, age group, and homeowner and relationship status varied.
As
residential solar is currently optional for existing homeowners, survey takers
were also asked who would most influence their decision to install solar panels
on their home for the good of the environment. Spouses/significant others
proved the most powerful force, with 58% of survey takers claiming they would
be influenced by them (36% a great deal of influence, and 22% some influence).
Environmental experts were the next most influential, with 57% saying they
would be influenced by their opinion (28% a great deal of influence, 29% some
influence).
Politicians
are the least influential, with just 19% of people saying a political figure
would influence their opinion to go solar for the environmental benefits (6% a
great deal of influence, 13% some influence). And while politicians don't rank
highly overall, data shows the older you get, the less likely you are to be
influenced by them. Among survey takers, the percentage who say politicians
have no influence: 46% for those aged 25-34; 49% age 35-44; 59% age 45-54; 64%
age 55-64, and 73% of those aged 65+. Comparatively, 29% of those 25-44 claimed
politicians would have some or a great deal of influence, while only 7% of
those 65+ stated the same.
Direct
Solar, a wholly owned subsidiary of Singlepoint Inc. (OTC: SING)
announced that the company is developing a
commercial solar lending solution. The solution will serve customers that own
and/or manage commercial properties. This is a massive market opportunity that the
commercial space is looking for.
Direct Solar will be one of the first companies to offer
this type of lending solution and is expected to launch in the next four to six
weeks.
“Currently
there are a lot of residential lending solutions as well as large scale lending
for solar farms and high megawatt projects. We have yet to find a solution that
will finance projects in the small to medium commercial space. Our financing
solution will provide these customers with quick funding turn around and
require no personal guarantees. We believe there is enough projects for us to
turn $100 Million dollars in lending over the next 9-12 months,” states Pablo Diaz,
Founder & CEO of Direct Solar.
Offering
this new financing solution will provide Direct Solar with addition revenue and
cash flow, as the company will be receiving commissions on each project that is
funded as well as commission on the installation.
“This is
a massive opportunity to fill a huge gap in the market. There has not been a
solution we’ve found like ours simply because the current model means you are
either a lender or installer. Direct Solar being one of the only solar brokers
in the market means we can work with the customer to find the right installer
and the right lender. Matching these two together is a win-win for everyone
involved,” states Brian Odle, National Finance Director of Direct Solar.
Coming
off of a major month (May 15, 2019 – June 15, 2019), Direct Solar closed
$1,709,460 in solar installs. This revenue should generate approximately
$803,769 in gross and $361,541 in net. Additionally, the company added three
new major service areas with a fourth on the way. This has all been residential
driven. The addition of the commercial solar opportunity should dramatically
increase the quick growth the company has already been experiencing.
These
numbers put Direct Solar on the path to profitability from a cashflow
standpoint very quickly. Management from SinglePoint and Direct Solar are very
excited to see the continued growth of the solar business through multiple
avenues, including commercial.
“This
acquisition puts SinglePoint on a huge trajectory path. The solar market is on
an extreme growth trajectory and Direct Solar has planted its foot right in the
middle of it. Providing installers and financers with qualified customers,
while providing these customers a streamlined process for purchasing solar,”
states Greg Lambrecht, CEO of SinglePoint.
Sunworks,
Inc. (NASDAQ: SUNW), a provider of solar power
solutions for agriculture, commercial and industrial (ACI), public works and
residential markets, recently announced a new 751 kW
solar power construction project for Plumas Mutual Water District, a water
company located in Yuba City, California that distributes water for farming
operations.
Sunworks Chief Executive Officer, Chuck Cargile, said,
“Water districts in California are faced with many challenges, including water
shortages, drought and resiliency challenges. Solar can help address these
issues in a cost effective way while also helping to ensure crop production and
yield are maximized.”
Construction of the new $1.3 million, 751kW ground-mount
system project is expected to commence later this year with revenues recognized
in the fourth quarter and into the first half of 2019.
Joe Danna, Director of Plumas Mutual said, “From our first
meeting, it was clear that the Sunworks team had a strong understanding of our
challenges and goals. They designed a system that was tailored to our
requirements and helped us understand how we can maximize our cost, so we can
serve our customers in a more sustainable and resilient way.”
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.
Bank of
America Merrill Lynch acted as the sole structuring and
placement agent for the cash equity and multi-draw term loan, as well as the
sole tax equity investor. Additional equity capital was provided by SunPower,
Hannon Armstrong and their joint venture SunStrong, which holds equity
interests in more than 55,000 residential solar energy systems.
"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."
SunPower offers its lease program through its network of
residential solar dealers across the US, new home builders where the company
holds a market-leading position, and direct sales teams. Last year, SunPower's
US residential business saw annual deployment growth of more than 15 percent,
bringing the total number of American homes with SunPower® solar to over
275,000 consumers.
Additionally, the company announced that SunStrong has
acquired a residential lease portfolio from Capital Dynamics. This transaction
adds to SunStrong's existing high-quality asset portfolio with the addition of
more than 41 MW and 5,100 residential systems.
This push for solar shows a similar parallel to the
cannabis industry wherein, regardless of federal policies, which in the case of
solar seem to ignore climate change, the American public as well as American
businesses are demanding cheaper and more accessible energy solutions with a
heavy focus on solar. These early growth numbers paint a very obvious picture
as to where American’s see the future of US energy heading, but we will still
have to wait and see if 2019 is in fact going to continue with this first
quarter trend.
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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