Boston Solar Closes Out Q1 2025 with over $9 Million in Signed Residential Solar and Commercial Solar Contracts

Rhea-AI Summary

Boston Solar, a subsidiary of SinglePoint Inc. (OTC Pink: SING), reported strong Q1 2025 performance with $9.1 million in total new sales. The breakdown includes 134 residential sales valued at $5 million and $3.9 million in commercial sales.

The company has secured a commercial pipeline of $8.5 million for installation throughout 2025. Operational improvements implemented in 2024 have led to reduced overhead expenses, improved marketing efficiency, and streamlined installation processes, contributing to enhanced gross margins.

The residential solar sector has shown 27% year-over-year growth in key markets, while the commercial solar segment is projected to grow at a CAGR of 18.3% through 2030, driven by rising electric rates and extended investment tax credits under the Inflation Reduction Act.

Positive

• Achieved $9.1M in total new sales for Q1 2025
• Secured $8.5M commercial pipeline for 2025
• Reduced overhead expenses through operational restructuring
• Improved gross margins through installation efficiency gains
• Increased sales conversion rates from marketing improvements

Negative

• None.

Boston, Massachusetts--(Newsfile Corp. - April 2, 2025) - Boston Solar, a wholly owned subsidiary of SinglePoint Inc. (OTC Pink: SING), a leading provider of residential and small commercial solar solutions in New England, today announced robust financial results for the first quarter of 2025, demonstrating continued momentum in both residential and commercial segments.

In Q1 2025, the company achieved total new sales of $9.1 million, with the residential division securing 134 sales valued at over $5,000,000. The commercial division contributed an additional $3.9 million in sales. Most notably, Boston Solar has built a significant commercial pipeline of $8.5 million scheduled for installation throughout 2025, positioning the company for sustained growth throughout the year.

"Our Q1 results reflect the strength of our business model and the increasing demand for sustainable energy solutions across both residential and commercial markets in New England," said Michael Morlino, President of Boston Solar. "We're particularly encouraged by our commercial pipeline, which provides excellent visibility for the remainder of 2025 and underscores the effectiveness of our strategic focus on diversified customer segments."

The strategic changes implemented throughout 2024 are already yielding substantial benefits in early 2025. Operational restructuring has resulted in reduction of overhead expenses, while improved marketing efficiencies have contributed to a increase in sales conversion rates. The company has significantly streamlined its installation processes, reducing average project completion time leading to the ability to more installs per week which drives cashflow improvements. These efficiency gains have enhanced gross margins setting the stage for improving profitability throughout 2025.

The residential solar sector continues to experience unprecedented growth, driven by a combination of favorable policy environments, declining installation costs, and heightened consumer awareness of climate issues. Recent data indicates that residential solar adoption has accelerated 27% year-over-year in key markets, with homeowners increasingly viewing solar installations not merely as environmental choices but as sound financial investments. The improved aesthetics of modern solar panels and integrated storage solutions have further expanded market appeal beyond early adopters to mainstream consumers.

In the small commercial sector, businesses are rapidly embracing solar solutions as part of broader cost-reduction strategies. With electric rates continuing to rise across many regions, the ROI timeline for commercial solar installations has shortened considerably. The Inflation Reduction Act's extension of investment tax credits has been particularly impactful for small businesses that previously found solar investments financially challenging. Industry analysts project the commercial solar segment to grow at a CAGR of 18.3% through 2030, with small and medium businesses representing the fastest-expanding customer category.

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About Boston Solar - www.bostonsolar.us

Boston Solar is a premier solar provider serving residential and commercial customers throughout Massachusetts. The company has established a reputation for quality installations, comprehensive customer service, and deep expertise in navigating the complex landscape of solar incentives and financing options in the Northeast market.

About SinglePoint Inc. www.singlepoint.com

SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com).

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the use of proceeds, anticipated growth and future expansion, are forward-looking statements that involve risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Media Contact:
Michael Morlino, President
info@bostonsolar.us

Investor Relations Contact:
SinglePoint Inc
investor@singlepoint.com
888-682-7464

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247037

FAQ

What was Boston Solar's total sales performance in Q1 2025 (SING)?

Boston Solar achieved $9.1 million in total new sales, with $5 million from residential (134 sales) and $3.9 million from commercial divisions.

How large is Boston Solar's (SING) commercial pipeline for 2025?

Boston Solar has secured a commercial pipeline of $8.5 million scheduled for installation throughout 2025.

What operational improvements did Boston Solar (SING) implement in 2024-2025?

The company reduced overhead expenses, improved marketing efficiency, and streamlined installation processes, leading to enhanced gross margins.

What is the projected growth rate for commercial solar segment affecting Boston Solar (SING)?

The commercial solar segment is projected to grow at a CAGR of 18.3% through 2030, with small and medium businesses being the fastest-expanding category.

How much has residential solar adoption grown in Boston Solar's (SING) key markets?

Residential solar adoption has accelerated 27% year-over-year in key markets.