PHOENIX, Nov. 4, 2020 /PRNewswire/ -- SinglePoint Inc. (OTC: SING) through its subsidiary, Direct Solar of America, has established themselves as a leading originator in the domestic US Solar Industry. Having signed multiple agreements in the last six weeks with industry titans, the company has positioned itself to lead a new generation in the solar industry. Timing is impeccable as most recently we have seen multiple solar companies rally. Sunrun merged Vivint Solar in one of the largest transactions to date. Invesco Solar ETF has spiked almost 300% in the last year and First Solar has had its biggest move in almost 9 years.
Large companies are expected to continue to invest heavily in the renewable energy sector. SinglePoint Inc. is well positioned to capitalize on its expanding footprint and to continue to capture market share and expand revenue base as Solar continues to grow.
According to The Daytona Beach News Journal Duke Energy Florida is looking at investing $1 Billion in solar energy. The article goes on to report, "If the program is approved, the company plans to invest about $1 billion in new solar power plants across the state during the next three years, Ana Gibbs, a Duke spokeswoman, said Wednesday."
In 2019 , Goldman Sachs reached a total of $4 Billion in investable money through its subsidiary Goldman Sachs Renewable Power. According to PV Magazine, Goldman Sachs can play an important role in the transition to renewable energy by partnering with clients to own and manage renewable energy projects that deliver clean energy. Goldman has already been very active in the renewable energy market having placed over $1.4 Billion in varying distributed generation solar assets in the United States.
Multiple companies including SolarEdge, First Solar, Sunrun, Tesla and SinglePoint have resumed growth in 2020 despite the effects of the pandemic and the future of solar appears to be very bright. Whether it's through subsidies, the overall cost of production, general conscious move towards renewable energy or a combination of all of them solar will continue to grow and be a top of mind investment opportunity for investors around the world.
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Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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SOURCE SinglePoint Inc.