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Solar Stocks Snapshot – Looking at Growth in Residential Solar Industry (OTCQB: $SING) (NASDAQ: $SPWR) (NYSE: $NEE) (NYSE: $VSLR)

 

Point Roberts, WA and Delta, BC - June 20, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering solar stocks releases a sector snapshot reporting on the continued upswing for the residential side of the solar sector as more states adopt new energy policies and as solar becomes more affordable and accessible to residential consumers.

Companies featured include SinglePoint Inc. (OTCQB: SING), SunPower Corporation (NASDAQ:SPWR), NextEra Energy, Inc. (NYSE: NEE) and Vivint Solar, Inc. (NYSE: VSLR).

A recent Benzinga news article looking at solar stocks quoted, "Goldman Sachs recently upgraded residential solar stocks, which are making a big comeback so far in 2019, with the INVESCO EXCHANG/SOLAR ETF up 48.5% year to date. However, one Wall Street analyst said Tuesday residential solar stocks will continue to shine in the second half of the year."

Goldman Sachs analyst Brian Lee commented, "We are incrementally positive on US residential solar stocks and see a number of tactically attractive buying opportunities ahead of 2H19 volume tailwinds and amidst recent signs of ongoing strength in the financing environment."

SinglePoint Inc. (OTCQB: SING), a new player in the solar sector recently announced that its acquisition, Direct Solar has surpassed everyone's expectations signing contracts to deploy $1,709,460 in solar installs over the previous 30 days. This revenue should generate approximately $803,769 in gross and $361,541 in net. Direct Solar and SinglePoint also announced the official addition of three new service areas with a fourth on the way. Tampa, Orlando and St. Louis are officially active and Miami will be activated in the near future. The company has now deployed teams in these areas to drive the explosive growth of Direct Solar.

From a cash flow standpoint, these numbers have quickly put SinglePoint on the path to profitability. Management from both companies are very excited to see the continued growth of Direct Solar through multiple avenues including commercial. Direct Solar is currently negotiating a line of credit for cannabis businesses and other small businesses throughout North America. This provides Direct Solar the ability to not only generate the sale but to also provide the financing for these business owners. Providing financing will deliver Direct Solar another avenue towards generating profits on the origination of the financing.

"This acquisition puts SinglePoint on a huge trajectory path. This is not only a homerun but a grand slam in our eyes. These revenues and profits provide SinglePoint the ability to be in a profitable cash flow position and the opportunity to aggressively expand sales. For every dollar we are putting into marketing we are seeing a return of five. Expanding in additional major markets would exponentially increase the revenues on top of the already explosive growth," states Greg Lambrecht, CEO of SinglePoint.

SunPower Corporation (NASDAQ:SPWR) recently announced that with Hannon Armstrong Sustainable Infrastructure Capital, Inc. and SunStrong Capital Holdings, LLC, it has secured financing commitments for its residential solar lease program that will help meet SunPower's expected customer demand into 2020. SunPower has provided solar lease financing options to customers since 2010. The attractive financing provisions with this new fund will supplement the solar loan and cash sale alternatives currently offered by the company.

The new fund is structured as a levered tax equity partnership with a multi-party forward purchase commitment, allowing generation of upfront cash margins for residential solar leases. The financing commitments for this new fund are being provided largely from a repeat group of loan and equity providers that continue to have strong long-term relationships with SunPower and Hannon Armstrong.

"SunPower's strong suite of acquisition options, and our technologically superior solar energy solutions allows us to continue meeting growing customer demand," said Tom Werner, SunPower CEO and Chairman of the Board. "Thanks to our financing partners who share our clean energy future goals, we're able to ensure funding to meet the needs of those customers who desire a leasing option."

"This latest fund continues our multi-year programmatic investment with SunPower, helping to decarbonize the residential sector using solar, one of the climate solutions essential to mitigating climate change," said Jeffrey Eckel, Hannon Armstrong President and CEO. "We are especially pleased with the expansion of SunStrong's role in this innovative fund as it demonstrates the increased financial capabilities of this new joint venture with SunPower."

NextEra Energy, Inc. (NYSE: NEE) recently received a best-in-class preparedness assessment in S&P Global Ratings' Environmental, Social and Governance (ESG) Evaluation. NextEra Energy's final ESG Evaluation score, 86, is expected to be one of the highest rankings to be given by S&P Global Ratings to any corporate entity within the sector. The best-in-class preparedness assessment, which is anticipated to be applied by S&P Global Ratings only in rare circumstances, reflects NextEra Energy's ability to identify long-term risks and develop and implement plans to mitigate these challenges into new opportunities, distinguishing the company from its peers amid the disruptive forces facing the industry. S&P Global Ratings assessed NextEra Energy's preparedness for all of the company's ESG factors as either good, strong or leading, the top three possible scores. The report specifically highlights NextEra Energy's clean generation profile, code and values, strong safety management program, and leading customer engagement driven by low bills, high reliability and outstanding customer service.

"We are pleased to be recognized for our leading ESG efforts by S&P Global Ratings," said Jim Robo, NextEra Energy Chairman and CEO. "We are deeply committed to doing well by doing good, and that means respecting our environment, providing value for our customers, sustaining our communities, focusing on continuous improvement and innovation, investing in our team and growing shareholder value. Today, we are furthering our commitment to the environment with the announcement of a new goal to continue reducing our carbon dioxide emissions. This goal underscores our deep commitment to environmental protection and stewardship, one of the key areas of our company's sustainability efforts. At NextEra Energy, we firmly believe that we have an unprecedented opportunity to shape how energy is produced and delivered. By investing in smart infrastructure and innovative clean energy solutions, we're helping build a sustainable energy future that is affordable, efficient and clean, while at the same time creating tens of thousands of jobs and generating economic benefits for the communities we serve."

The company also recently reported their first quarter 2019 financial results. "NextEra Energy delivered strong first-quarter results and is well-positioned to meet our overall objectives for the year," said Jim Robo. "We grew adjusted earnings per share by approximately 12% year-over-year, reflecting excellent performance across our businesses. During the quarter, FPL successfully brought online the Okeechobee Clean Energy Center, which is among the cleanest, most fuel-efficient power plants of its kind in the world, on budget and ahead of schedule, and continued to execute one of the largest-ever solar expansions. The Gulf Power integration continues to advance well, and I am confident in our ability to execute our plan for the benefit of customers and shareholders. NextEra Energy Resources continues to capitalize on the best renewables development period in our history with the addition of nearly 1,000 megawatts to its contracted renewables backlog. Combined with the strength of our balance sheet and credit ratings, we continue to believe NextEra Energy is uniquely positioned to drive long-term shareholder value and remain as enthusiastic as ever about our future prospects. I will be disappointed if we are not able to deliver financial results at or near the top end of our 6% to 8% adjusted earnings per share compound annual growth rate range through 2021, off the 2018 base of $7.70 per share, plus the expected deal accretion from the Florida transactions."

Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, announced the closing of a multi-party forward flow funding arrangement that includes project-level debt, a levered tax equity partnership, and a cash equity investment. The transaction provides up to $360 million in total funding commitments. It is structured to generate an upfront cash margin for the company for approximately 95 to 100 megawatts of future solar energy systems. The financing incorporates a multi-party forward purchase commitment anchored by a levered tax equity partnership, a financing structure used last year by Vivint Solar for the first time in the residential solar industry.

Bank of America Merrill Lynch acted as sole structuring and placement agent for the cash equity and multi-draw term loan as well as the sole tax equity investor. Hannon Armstrong (NYSE:HASI) participated as the structured cash equity investor.

"This transaction demonstrates investors confidence in the continuing success of our business model, and its pricing reflects the ongoing growth in revenue generated by our systems," said Vivint Solar CEO, David Bywater. "Investors are seeing the trajectory of our unit economics, and we appreciate the ongoing support of Bank of America Merrill Lynch along with Hannon Armstrong's continued programmatic investment."

"The innovative forward flow funding structure gives Vivint Solar financial flexibility through the cash margin provided by this vehicle for a portion of our future PPA and lease assets," said Vivint Solar's Chief Commercial Officer and Executive Vice President of Capital Markets, Thomas Plagemann. "While our focus is always on providing the best suited products for each homeowner, it is equally important to develop a sustainable funding model so we can continue growing."

As investors continue to gain confidence in solar, a snowball effect of consumer awareness and cost effectiveness, even in the midst of tariff turmoil, may allow solar to continue to gain throughout 2019 as many analysts already predict.

For investors following solar stocks, Investor Ideas has created a stock directory of renewable energy stocks as part of its membership. Learn more https://www.investorideas.com/membership/

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