From GlobeNewswire: 2025-05-21 18:21:00

Solar Alliance Energy Inc. filed its audited financial results for the quarter and year ended December 31, 2024. Although revenues decreased in 2024, the company saw improved gross profits and substantial reduction in losses as it approached breakeven.

CEO Brian Timmons highlighted strong interest in renewable energy and the completion of multiple smaller commercial solar projects in 2024. The company is now focusing on larger commercial projects in the 1MW to 5MW range to support future growth.

Key financial highlights for 2024 included a revenue decrease to $5,446,757, a gross profit of $1,572,840, and a net loss of $684,134. The company also reduced total expenses by 5.5% and saw an increase in salaries and benefits.

Solar Alliance continues to focus on large project momentum and growth in small and medium-sized projects. The company leverages policy developments and grants like the USDA REAP program to increase opportunities in the solar market.

The company’s regional focus strategy involves designing, engineering, installing, and managing commercial solar systems ranging from one to five megawatts. Solar Alliance aims to capitalize on its success in the region and improve processes for further sales and development opportunities.



Read more at GlobeNewswire:: Solar Alliance announces major stride towards profitability