#CleanEnergy Going Virtual - Sector Thrives During #Covid19 (OTCQB:
$SING) (NASDAQ: $TSLA) (NASDAQ: $FCEL) (NASDAQ: $BLDP; TSX: $BLDP.TO)
Point Roberts WA, Delta BC, April 15, 2020 –
Investorideas.com, a global news source and leading investor resource covering
cleantech and renewable energy stocks issues a sector
snapshot looking at how some companies in the solar and cleantech sector are
adapting and thriving during the Covid-19 pandemic, featuring SinglePoint, Inc. (OTCQB: SING) and its solar subsidiary, Direct Solar of
America.
Read this news featuring SING in full at https://www.investorideas.com/news/2020/cleantech-climatechange/04151COVID19-SING-TSLA-FCEL-BLDP.asp
From corporate sales to industry events, going
virtual seems to be the solution for solar. The American
Solar Energy Society (ASES) SOLAR 20/20 National
Organizing Committee (NOC) reported it “has been monitoring the COVID-19
situation closely. After much deliberation, the NOC has ultimately decided to
convert the live event in Washington D.C. to a virtual conference in order to
ensure the safety and health of our attendees, speakers, and sponsors. We are
using an interactive platform where important discussions, networking, and
community building can take place from the comfort of your computer, tablet, or
smartphone.”
While analysts are predicting residential
installations could fall this year, in some areas consumers are showing the
exact opposite is happening. According to PV Magazine Australia’s solar market is booming during the
pandemic. “Byron Bay-based solar retailer Smart Energy says it is seeing an
unprecedented surge in sales and enquiries for solar and home energy storage as
consumers look to shore themselves up in uncertain times.”
US based SinglePoint, Inc. (OTCQB: SING) and its solar subsidiary, Direct Solar of America
are adapting to these unprecedented times and seeing the gains immediately. The
Company was just featured in GreenTech Media’s article, Coronavirus Is Forcing Home Solar Companies to Sell Virtually. Maybe
That’s a Good Thing. The article followed news from the Company that
they had implemented a Virtual Solar Sales Platform.
On April 7th, SinglePoint reported that its subsidiary Direct Solar America, a
leading solar brokerage solution, added 9 additional states, Colorado, New
Mexico, Wisconsin, Minnesota, Pennsylvania, Georgia, South Carolina, New
Jersey, and Connecticut since it had recently repositioned it's salesforce to
leverage technology platforms that enable the Company to initiate and close a
solar transaction utilizing remote and virtual solar sales professionals.
Shifting to a virtual sales force has been a primary focus of management since
the acquisition of the company by SinglePoint in May 2019, as we believe that
the ability to book sales without an in-home visit is an additional
differentiator and competitive advantage in the industry where door-to-door
sales of residential solar had been the common practice.
"The Direct Solar America management team did
a great job re-positioning the company quickly in these uncertain times. Across
various industries, companies are being forced to transform and adapt critical
components of their business model to accommodate social and physical
distancing due to COVID-19, scrambling to implement solutions that allow them
to continue to operate. We are fortunate that we had identified this as a
strategic need at the acquisition and the foresight to begin working on
implementing this type of solution. We are encouraged that we have been able to
retain most of our top sales professionals and can now give them the tools to
succeed in virtual sales. Ultimately we believe this is a significant improvement
in the process and will continue to drive the company to new levels in the
future," states Greg Lambrecht, CEO SinglePoint.
Recently, PV-Magazine reported, ”Jenny Chase, the head of Bloomberg NEF’s Solar
Insight team, that installing solar requires little physical contact, so is
generally a “low risk” workplace activity in the Covid-19-impacted workplace.
As economies in key solar markets like the United States and Europe begin to
reopen for business, it is likely that PV installations could resume. It
strikes me that it [PV] could be one of the things to be eased up at an early
stage.”
Another indicator of what is happening in the
sector, Economic Times reported, “New Delhi:
Sales of renewable energy certificates rose over 79 per cent to 8.38 lakh units
in March compared to 4.68 lakh in the same month a year ago owing to good
supply, according to official data.”
“Renewable Energy Certificates (RECs) are a type of
market-based instrument. One REC is created when one megawatt hour of
electricity is generated from an eligible renewable energy source.”
Looking at EV sales during the pandemic, Australia
is demonstrating leadership in that sector as well. According to theDriven.io – “The FCAI said overall car and SUV sales fell
17.9 per cent when compared to March 2019, and passenger vehicles were hit
particularly hard, falling 25 per cent from the same month a year earlier.”
“Electric and hybrid vehicle sales, however, were
one of the few bright lights in the data, with sales of electric, plug-in
hybrid (PHEV) and hybrid passenger and SUVs up across the board, with the
exception of commercial SUV sales.”
“The VFacts data – which does not include Tesla – shows
private electric and PHEV passenger sales have almost doubled with 91.3% more
sales compared to March 2019, and hybrid private passenger vehicle sales are up
nearly 75%.”
Tesla’s (NASDAQ: TSLA) stock moved on news from April 2nd - “In the first quarter, we
produced almost 103,000 vehicles and delivered approximately 88,400 vehicles.
This is our best ever first quarter performance.”
|
|
Production
|
Deliveries
|
Subject to lease accounting
|
|
|
Model S/X
|
15,390
|
12,200
|
16%
|
|
|
Model 3/Y
|
87,282
|
76,200
|
5%
|
|
|
Total
|
102,672
|
88,400
|
7%
|
|
“Model Y production started in January and deliveries began in March,
significantly ahead of schedule. Additionally, our Shanghai factory
continued to achieve record levels of production, despite significant
setbacks.”
Another cleantech company that seemed to go against the grain during
this pandemic, FuelCell Energy (NASDAQ:FCEL) reported Q1 results on March 1st and
the stock moved up as it beat expectations.
The Company reported revenue of $16,264,000 less by 8.54% year over
year, beating estimates of $14,910,000.
FuelCell Energy also reported a backlog of $1.36 billion as of January
31, 2020, a $117.9 million (or 9%) improvement from January 31, 2019.
On March 12th, Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) announced a purchase order from Solaris Bus & Coach S.A.
(“Solaris”; www.solarisbus.com), a leading European bus and trolleybus
manufacturer and Ballard partner, headquartered in Bolechowo, Poland, for 25 of
the Company’s new 70 kilowatt heavy-duty FCmove™-HD fuel cell modules.
“These 25 modules will power 15 Solaris Urbino 12 hydrogen buses planned
for deployment in Cologne, Germany and 10 Urbino 12 hydrogen buses planned for
deployment in Wuppertal, Germany, all under the Joint Initiative for Hydrogen
Vehicles Across Europe (“JIVE 2”) funding program.”
On April 3rd it was reported from France, “The government selected around 1.7
GW of wind and solar projects from a range of recent tenders, and approved
commissioning extensions due to the Covid-19 situation. A total of 288
renewable energy projects were selected for development – 253 of which were
solar projects.”
For consumers and investors betting on cleantech
for the future, there are signs that in spite of this unprecedented pandemic,
there is a demand for a better, cleaner future and Australian consumers seem to
be leading part of the global revolution. Since they just survived a
catastrophic climate change event, it seems fitting.
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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