“This transaction allows us to concentrate fully on our distribution and commercial businesses, which are the fastest growing solar markets” - Jeff Wolfe, CEO groSolar
White River Junction, VT (PRWEB) February 17, 2011
groSolar today announced the expansion of its solar distribution and large-scale commercial business, positioning the company for future growth. To facilitate this, groSolar announced today that it has sold its residential division to SolarCity, the nation’s largest residential solar service provider.
“This transaction allows us to concentrate fully on our distribution and commercial businesses, which are the fastest growing solar markets” said Jeff Wolfe, CEO, groSolar. “It allows us to target, expand and move our distribution and commercial solar businesses to the next level. It’s a very exciting time for the company and our customers.”
groSolar’s distribution channel has seen tremendous growth. A strengthened focus on inventory, quality technology from manufacturers, and market development will allow groSolar to continue as a leading nationwide, full-service solar distributor. groSolar has added sales and customer service staff to its distribution team and will continue to enhance its services.
groSolar’s commercial division has received contracts for multiple large-scale commercial projects in 2011. In the coming weeks, groSolar will commission its largest commercial installation to date, at Clean Harbors landfill in New Jersey. The 1.5 megawatt installation, which will sit on top of a capped landfill, will power equipment used to decontaminate groundwater and offset 90% of the facility’s annual electric bill. The commercial team will hire more personnel to support the new growth.
SolarCity will take over all support and maintenance services to groSolar’s existing and contracted residential customers immediately.
“We are extremely proud of the industry leadership demonstrated by groSolar over the past decade of experience. We look forward to an increased focus on our existing distribution and commercial channels, while we are also pleased that most of our skilled residential division personnel will continue this important work, now for SolarCity,” said Wolfe. “We share the mission of affordable solar for all and we’re certain that our residential channel could not be in better hands. Furthermore, our distribution and commercial divisions will be stronger than ever.”
groSolar is North America’s premier provider of solar energy solutions for commercial and residential applications. groSolar serves the 1-30 MW commercial markets with complete EPC, financing, and development options, while serving the residential markets exclusively through our nationwide dealer network value added distribution services. Founded in 1998, groSolar brings leading knowledge to the industry and integrates components from leading solar manufacturers into simple solar energy solutions, which generate clean, reliable energy for decades. groSolar is a mission-driven company dedicated to providing high quality solar energy systems and financial solutions. Learn more at groSolar.com or call 800.374.4494.
KSE Partners, LLP