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Solar Alliance Anticipates Strong 2020 as U.S. Solar Industry Growth Continues
VANCOUVER, BC & KNOXVILLE, TN / ACCESSWIRE / January 8, 2020 / Solar Alliance Energy In...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"Solar Alliance Anticipates Strong 2020 as U.S. Solar Industry Growth ContinuesVANCOUVER, BC & KNOXVILLE, TN / ACCESSWIRE / January 8, 2020 / Solar Alliance Energy Inc. (‘Solar Alliance' or the ‘Company') (TSXV:SOLR)(OTC:SAENF) is pleased to provide a corporate update as the Company anticipates a strong 2020 supported by continued U.S. solar industry growth.\"The Solar Alliance team has made significant progress over the last year in creating defined commercial and residential growth plans,\" said CEO Myke Clark. \"The work carried out in 2019 should result in year over year revenue growth and, just as importantly, allow us to take full advantage of the strong U.S. solar industry in 2020. We will also be pursuing, where appropriate, accretive acquisition or business combination opportunities. The solar industry landscape is evolving rapidly and we intend to take advantage of opportunities for value creation that make sense for shareholders.\"Solar Alliance has been focused on reducing overhead at the corporate level to ensure the Company's resources are appropriately allocated to driving new business and moving projects through the pipeline. The Company has also increased its focus on developing strategic partnerships that allow for expansion in a cost-effective manner, increasing profit margins on individual projects and driving towards overall company profitability.Solar Alliance is also committed to pursuing project ownership in 2020. The Company currently sells solar systems to customers but sees a significant opportunity to own projects and sell electricity to customers by way of long-term contracts. Building a portfolio of retained assets that generate consistent cash flow would create value for shareholders and provide another sales product for customers simply looking to reduce their electricity costs.CommercialIn the commercial solar division, the Company is working closely with Whayne Supply Company (\"Whayne Supply\"), a Caterpillar dealer, to develop solar systems for the U.S. agricultural industry. Whayne Supply and Solar Alliance recently completed an 80 kilowatt (\"kW\") solar system for a poultry producer in Kentucky (as announced on September 9, 2019). In addition to this project, Solar Alliance is also partnering with Whayne Supply on signing an additional six near term solar systems for agricu...