NRG Energy is likely the most solar-friendly energy company in the U.S. The company has continued to make inroads in all forms of renewable energy in the past few years, from giant wind and solar farms to rooftop solar. It also recently announced its intentions to increase this trend during its annual call. Earlier this week it made good on the promise, purchasing the Northeast sales and operations Verengo Solar, which provides residential solar services.
Verengo Solar has offices in New York, New Jersey as well as in California. Verengo will continue to run its California offices—at least for now. The company has been looking for buyers since at least May 2014, according to GTM Research. But in the Northeast it will now be part of NRG Home Solar.
“Increasing our capabilities and bandwidth in the Northeast—one of the fastest growing areas for residential solar in the U.S.—is an integral part of our plan to continue our growth towards ultimately becoming the top provider of residential solar in the country,” said Kelcy Pegler, Jr., president of NRG Home Solar. “NRG is deeply committed to residential solar and we continue putting the key pieces in place to drive a fantastic customer experience and help homeowners realize the value of their rooftops.”
The company plans to continue its growth in residential solar and has hopes to be the second largest home solar installer, challenging SolarCity, by the end of 2015, GTM reported. However, it will face steep competition as other companies, like Vivint Solar are also vying for that space.
“From online and kitchen table sales, to financing and installation, we are a vertically-integrated residential solar company that is committed to winning this space,” Pegler said. “Having this experienced and established Northeast team join NRG Home Solar will be a tremendous resource to help us continue serving more and more customers in the region.”
NRG Home Solar has a good chance of challenging SolarCity and the other giant home solar installer companies in the U.S. It already installs home solar in New Jersey, New York, Connecticut, California, Massachusetts and Texas. It’s made numerous purchases of other rooftop solar companies like Rooftop Diagnostics and late last year, Pure Energies. The latter is an online and tele-sales company focused on residential solar.
The company also is moving into community solar options—another opportunity to offer homeowners a chance to go solar. In late January it announced a partnership with SunShare to finance 8.2 megawatts of community solar projects.Tweet