Companies Exploring Solar Energy, Establishing Foothold in Hot Industry - Seite 2

In addition, Advanced Energy Now projects that the solar rooftop market will reach $4.14 billion by 2022, growing at a compound annual growth rate of 9.7 percent until then. The public appears to be behind that growth, with more than three-quarters of Americans feeling that their utility provider should invest more heavily in solar energy.

The resources are certainly available. According to the Office of Energy Efficiency and Renewable Energy, the amount of sunlight hitting the Earth every couple of hours could provide the world's energy needs for an entire year. And with the increased focus created by the New Green Deal and other environmentally friendly movements, this could be the year for the sun to shine on solar energy.

New Acquisition Changes Company Future

Recognizing the potential for significant movement in solar energy, savvy companies both in and out of the energy sector are eyeing opportunities to get involved. SinglePoint Inc. (OTCQB: SING) has seized the day and, with its announced Asset Purchase Agreement with Direct Solar and AI Live Transfers, appears to be making a strong move in the industry.

"This is a phenomenal opportunity for SinglePoint," said SinglePoint president Wil Ralston. "This changes the entire financial fundamentals for the company and enables us to continue to push forward with opportunities to continue increasing shareholder value and the overall value of SinglePoint."

Direct Solar has seen exponential growth recently. In the past year, the company has surpassed $1,500,000 in revenue and has posted approximately 60 percent gross margins. This month alone Direct Solar generated approximately $321,230. Company officials project  record revenues for the company throughout the year after the acquisition is finalized.

Burgeoning Growth Presents Hot Opportunities

At the United States Energy Association's annual State of the Energy Industry forum, SEIA president and CEO Abby Hopper declared the 2020s as "the solar energy decade," stating that solar would be the main power source of choice in the coming years.

Although the comment may seem bold, it may not be without merit. Total installed U.S. PV capacity is expected to more than double over the next five years, and by 2023, more than 14 GW of PV capacity will be installed annually. The U.S. Energy Information Administration projects that utility-scale solar's share of total generation in the United States will grow by 10 percent this year alone, and by 17 percent in 2020, joining wind as the fastest-growing sources of electricity over that time period. And some experts say those numbers aren't aggressive enough.