Companies Exploring Solar Energy, Establishing Foothold in Hot Industry

NetworkNewsWire Editorial Coverage

NEW YORK, Feb. 28, 2019 /PRNewswire/ --With climate change a hot topic and the Green New Deal providing a possible pathway for progress, solar power may be a more viable — and profitable — source of energy than ever before.

- Significant growth, ample resources point toward bright solar energy future

- SinglePoint acquisition provides phenomenal opportunity for company to establish industry foothold.

Experts predict solar could be main power source of choice in the coming years.

Recognizing a building interest in and support of renewable energy sources such as solar energy, smart companies are finding ways to establish a strong foothold in the sector. SinglePoint Inc. (OTC:SING) (SING Profile) just signed an asset purchase agreement with Direct Solar and AI Live Transfers, providing what has been described as the Lending Tree model for solar business. First Solar Inc. (NASDAQ:FSLR) is working to complete construction and upgrades of its manufacturing facilities, enabling the company to produce its most advanced Series 6 solar panels. NextEra Energy Inc. (NYSE:NEE) was ranked by Forbes as No. 21 among the top 57 companies that globally change the world, in part because Florida Power & Light Company, one of NextEra Energy's principal subsidiaries, is in the midst of one of the largest solar expansions in the world. NRG Energy Inc. (NYSE:NRG) was recently recognized at Smart Energy Decisions' 2019 Innovative Summit for its landmark new sustainability product, Renewable Select. And in Virginia, Dominion Energy Inc. (NYSE:D) has launched a major bid to significantly increase its solar and wind energy generation under the state's new Grid Transformation & Security Act.

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Industry Growth, Public Sentiment Supports Movement

Now seems to be the time for solar energy. According to a report from the Solar Energy Industries Association, the country's solar market capacity increased 13 percent year-on-year in Q1, accounting for 55 percent of all U.S. electricity added during the period — that includes fossil fuels and other forms of renewable energy. The SEIA also reported that, in 2018, a new solar energy project launched every 100 seconds.