Renewable Energy Sector off to a Roaring 2020 - How Solar, EV and Fuel Cell Stocks are Giving Investors Something to SING about

Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - January 14, 2020) - Investorideas.com, a global news source and leading investor resource covering cleantech and renewable energy stocks issues a sector snapshot looking at how cleantech may be the sector to watch in 2020. Following on a strong year in 2019, solar stocks, fuel cell stocks and EV stocks are also leading the pack going into 2020.

Read the full article on Investorideas.com featuring solar company, SinglePoint, Inc. (OTCQB: SING) and other companies in the sector

https://www.investorideas.com/news/2020/cleantech-climatechange/01140OTCQBSING.asp

According to ETF.com's recent article (Lara Crigger), "It's true that rising Iran-U.S. tensions have caused a spike in energy funds. Astonishingly, however, the best-performing ETF of the past few weeks wasn't an oil or a natural gas fund-but a renewable power one.

Over the past 30 days, the SPDR S&P Kensho Clean Power ETF rose 16.4%, more than any other non-leveraged, non-inverse ETF."

According to a report and outlook for 2020 by Deloitte, "For the first time ever, in April 2019, renewable energy outpaced coal by providing 23 percent of US power generation, compared to coal's 20 percent share.¹ In the first half of 2019, wind and solar together accounted for approximately 50 percent of total US renewable electricity generation, displacing hydroelectric power's dominance."

2019 saw the global hydrogen fuel sector add more than 1GW of new capacity for the first time, according to a report by energy consultancy E4tech.

According to EEI, there were 18 million ELECTRIC VEHICLES (EV'S) on the road in the U.S.as of March 31, 2019.

SinglePoint, Inc. (OTCQB: SING) and its solar subsidiary, Direct Solar of America are seeing the strength in the sector first-hand. In a recent update to shareholders, Greg Lambrecht, Founder and Chief Executive Officer said, "The 2020 domestic Solar Market is showing continued signs of riding a new tailwind driven by talks of a New Green Deal. We anticipate that renewables will continue to be an important issue around the country, and plan to focus the majority of our attention on growth in the solar and renewables space."

He also went on to state. "This year management has set an internal goal to surpass $10,000,000 in gross revenues, primarily by the Company's subsidiary SinglePoint Direct Solar LLC ("Direct Solar" doing business as Direct Solar of America). 2019 was a great year for SinglePoint in terms of continued fundamental improvement, setting the foundation for anticipated continued growth in 2020 and beyond. The Company achieved some significant milestones this year; it became fully reporting with the Securities and Exchange Commission, increased annual revenue, and acquired a Fifty One Percent interest in Direct Solar. We will continue to focus on creating shareholder value utilizing an acquisition strategy looking for emerging growth companies that would benefit from exposure and access to capital that a public company can provide.

Direct Solar now has over 60 people deployed across 11 states and 20 cities.

From 2017 to 2018 our gross revenue increased over 344% and is expected to increase to approximately $3,000,000 (Three Million) in 2019 representing our largest annual reported revenue in company history. In 2020 we expect this revenue increase to continue as SinglePoint will benefit from a full operating year of Direct Solar."

Deloitte says, "The renewable energy industry is primed to enter a new phase of growth driven largely by increasing customer demand, cost competitiveness, innovation, and collaboration. Companies that are ready to innovate, collaborate, and seize new opportunities will likely thrive in a new phase of renewable growth."

2020 renewable energy industry trends

Renewables' costs competitiveness ushers in a new era of competition

The door is ajar for new offshore wind opportunities and may open wider in 2020

Growing resiliency imperative may mean an increasing role for renewables and storage

Collaboration is key to innovation in the renewable sector

Source https://www2.deloitte.com/us/en/pages/energy-and-resources/articles/renewable-energy-outlook.html

Want to get more info on the sector? Visit the Cleantech and Climate Change Podcast page at Investorideas.com

Visit the renewable energy stocks directory: http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp

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