Green New Deal Sparks Solar Energy Interest, Companies Exploring Solar Options

NetworkNewsWire Editorial Coverage

NEW YORK, March 4, 2019 Amid talks of global warming and the Green New Deal, solar energy may be a more viable — and profitable — investment than ever before.

• Plenty of resources and significant growth could mean bright future for solar
• SinglePoint acquisition called "phenomenal opportunity" for company to establish industry foothold
• Solar could be main power source of choice in the future, says industry leader

Recognizing a building interest in and support of renewable energy sources such as solar energy, savvy companies are identifying ways to establish a firm 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. Last month, the AES Corporation (NYSE:AES) joined with Kaua'i Island Utility Cooperative (KIUC) to inaugurate the Lāwa'i Solar and Energy Storage Project, the largest operational solar and storage system in the world. Southern Company's (NYSE:SO) subsidiary Gulf Power has been testing its SHINES project, which installs batteries on the utility's side of homes to control when and how much solar is sent to the grid, saving customers from having to invest in and install their own systems. After acquiring the SolarWorld Americas facility, SunPower (NASDAQ:SPWR) is assembling its high-quality 19-percent efficient solar panels for commercial customers, leveraging U.S.-made automated stringing equipment and a local workforce of about 200. Another acquisition, the $1.6 billion purchase of Sempra Energy, has made Consolidated Edison Inc. (NYSE:ED) the second largest solar energy producer in North America.

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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 Solar Energy Industries Association reported that, in 2018, a new solar energy project launched every 100 seconds.