Business
Solar Alliance Residential Solar Growth Exceeds 300% and Commercial Sales on Track for Record Year
VANCOUVER, BC and KNOXVILLE, TN / ACCESSWIRE / August 1, 2019 / Solar ...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"Solar Alliance Residential Solar Growth Exceeds 300% and Commercial Sales on Track for Record YearVANCOUVER, BC and KNOXVILLE, TN / ACCESSWIRE / August 1, 2019 / Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V:SOLR, OTC:SAENF) is pleased to provide an update on the strong growth it is experiencing in the residential solar sector with sales of the SunBox system and an enhanced relationship with channel partners driving an incredible 300% of last year’s sales year to date. SunBox is a complete solar solution that comes in two standard residential systems sizes with options such as a generator for whole home backup and a Tesla electric vehicle charger, installed under the Tesla Approved Vendor relationship announced in March 2019. Year to date in 2019, Solar Alliance has sold US $673,000 in residential systems of which approximately US $369,000 is completed and installed while an additional US$304,000 is contracted and in various stages of installation. In 2018, the comparable residential sales for the Knoxville-based team was US $223,000. With 5 months left in 2019 the Company has already sold 300% of last year’s total. Residential solar system sales in 2019 are now on track to exceed US $1.3 million. Commercial sales are also on target to exceed expectations, with approximately US $962,000 in projects completed (US $424,000) and in various stages of installation (US $538,000) with some large projects under bid and in the existing pipeline that, if construction starts in 2019, would result in revenue dramatically exceeding targets and last year’s total. “The SunBox results from the first seven months of 2019, combined with strong commercial sales and installations, continue to illustrate the market’s confidence in our growth plan and product offering,” said Solar Alliance CEO Myke Clark. “Our sales group and installation teams have hit their strides and we are seeing the results of our strategic efforts to grow aggressively with conservative overhead costs. The success we have experienced in Tennessee will allow us to move forward with SunBox expansion into surrounding states in the coming months. In addition to our contracted residential and commercial projects, we have been building out our pipeline of commercial prospects. We are ...