March 31, 2014
As energy is a relevant and continually in the news cycle. Have you forgotten about solar? Solar demand has its ebbs and flows as the sun’s energy is a source of clean pure energy. The market leaders are setting precedent for the utility of solar as nations become keen to the energy generation. The leader in solar sales is “NRG Energy scoops up home roof solar company” and still acquiring.
“The CEO of power giant NRG Energy, David Crane, told me earlier this week to expect big things from his company around rooftop solar systems for homes. On Thursday NRG Energy announced that it plans to acquire Roof Diagnostics Solar, the sixth largest residential solar installer in the U.S. with 470 employees. Terms not disclosed.”
“Based in New Jersey, Roof Diagnostics Solar is currently focused on providing solar installation and financing services to East Coast home owners, but plans to expand its services to the West Coast soon. NRG Energy already has a small but growing residential solar installation and financing business called NRG Residential Solar Solutions. Roof Diagnostics Solar will start operating under the NRG Residential Solar Solutions brand within the next month.
While NRG has had a business around installing and funding solar panel systems for commercial and industrial building owners for awhile, its residential rooftop solar business with solar leases was rolled out in fits and starts. Crane told me this week that NRG hadn’t been more aggressive in the home rooftop solar market before because the price of solar systems are just now becoming affordable for about half of the U.S. this year,” reports Gigaom.
“According to NRG’s annual report, the power company owns 25 GW of natural gas power plants, 13 GW of coal generation, 448 MW of wind farms, 1.2 GW of utility-scale solar systems, and 47 MW of distributed solar panels on rooftops (53 MW including systems under construction).”
The importance of sales from NRG reveals the robustness of the market. Further, it reveals the level of penetration in the renewable market. The trending in renewables some based on policy and subsidies has provided a fertile ground for M&A (merger and acquisition). In a cash is king economy solar’s like NRG can become the leader for how solar is rolled out in the larger market.
The reduced cost in solar is one positive steeping stone to solar development. The role of renewables to be on average under twenty percent of the energy market is good news for clean power. The more aggressive stance on the renewable development can lead to effective energy grid solutions for smart infrastructure.