FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “SinglePoint Completes Asset Acquisition of Direct Solar, Expecting to Dramatically Increase Revenues over $5 Million in First 12 Months.”
SinglePoint Inc. (OTCQB: SING) Completes Asset Acquisition of Direct Solar, SinglePoint Largest Deal to Date Expects to Dramatically Increase Revenues. Direct Solar operates on a Lending Tree/Rocket Mortgage model in which the company provides the homeowners which options for installers that service their area and the loan programs they have access to. This allows for the company to expand throughout the US and globally. With the backing of SinglePoint Direct Solar will have the ability to quickly scale into new markets and establish the company’s foothold in the Solar market.
SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry.
Climate change has become a major topic of discussion in legislative offices around the world. The constant use of non-renewable energies such as coal and oil have caused significant harm to the Earth’s environment and ecosystem. Moreover, non-renewable energies are leading to global warming, and as a result, the increased temperatures are causing polar ice caps and icebergs to melt. Subsequently, the rising ocean level is creating chaos among countries and islands that are situated on sea-level. As part of numerous government initiatives, countries are now shifting towards using renewable energies such as wind, hydro and solar power in order to combat the adverse effects of non-renewable resources. In particular, solar energy is much more sought after than other clean energies because when compared to hydro or wind power, solar energy is more commonly available around the world. Solar energy harnesses energy from the Sun’s power directly through solar panels. The panels then pour the energy into storage solutions, allowing for continuous and consistent energy output throughout the day. According to data compiled by Global Market Insights, global solar energy was valued at USD 65 Billion in 2015. By 2023, the market is expected to reach USD 140 Billion.
Primarily, the solar energy industry is split into two sectors: photovoltaic and concentrated thermal power. Photovoltaic devices generate electricity directly from the sunlight through semiconductors. On the other hand, concentrated thermal power plants use mirrors to concentrate the Sun’s energy to drive traditional steam turbines or engines in order to produce electricity, according to the Solar Energy Industries Association. On an international-basis, many countries, such as China, the United Kingdom, Germany, France, and the U.S. have already established solar energy plants. Moreover, regions such as the Middle East and Africa are expected to grow within the solar industry due to the rising electricity prices and government subsidies. Notably, the Paris Agreement is a global initiative signed by 179 parties in order to fight against climate change and adapt to its effects. The Paris Agreement central aim is to strengthen the global response to the threat of climate change by keeping the global temperature increase well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius, according to the U.N. for Climate Change. Due to declining prices of silicon solar panels and a global push for clean energy, the solar energy market is positioned to witness a bright future ahead. In the most optimistic scenario, solar generation is expected to increase by 16-hold between 2016 to 2040, according to data by the International Energy Agency. “The number of homes with solar will tick up pretty quickly,” said Justin Baca, Vice President of Markets and Research for Solar Energies Industries Association. “We’re personally looking forward to a day when solar is as ubiquitous as AC.”
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