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It’s the latest in a series of acquisitions and partnerships SinglePoint states it is targeting as part of an overall strategy to build a nationwide, streamlined renewable energy solution. 

Boston Solar Acquisition Adds $25 Million In Projected Revenue

Boston Solar is an established solar installer with annual revenue of $17.7 million last year. It has reported installing over 5,000 residential and commercial solar systems across New England since it opened in 2011 — including a commercial scale solar system in the MGM Music Hall at Fenway as part of a contract with the Boston Red Sox which will be installed in Spring 2022.

As a subsidiary of SinglePoint, Boston Solar plans to continue its growth in Massachusetts while expanding into other New England markets on the strength of Boston Solar’s reputation and accretive tuck-in acquisitions throughout the area. 

Are Companies Like SinglePoint Using Acquisition Strategies Helping Fuel Growth In The Residential Renewable Energy Market?

That trend is arguably spreading with momentum through residential and small commercial space markets as homeowners and small businesses reportedly look for more sustainable solutions. But transitioning to solar can be a complicated and tedious process for homeowners across the United States.

With variations in state and local licensing and permit requirements and a landscape of smaller installers and manufacturers operating at the local level, it can be difficult for customers to figure out what they need, who the best provider is and what legal red tape they need to go through to make it happen.

SinglePoint says it hopes to simplify this process by targeting acquisitions and partnerships with synergistic opportunities to create a streamlined and economical solar buying experience, no matter where the customer is or what kind of installation they need.

Its subsidiary, Direct Solar of America, for example, is a solar energy concierge with the goal of working with customers through every step of the process from –selecting the best local installer to obtaining financing and finishing the solar project.

“There’s a point where these private businesses, in this space specifically, are unable to access working capital,” SinglePoint CEO Wil Ralston said in an interview with Benzinga. “Going through an acquisition and being able to help drive that really can take them to the next level of growth and add synergies and economies of scale.”

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