Renewable energy sources are becoming more important than ever before. Relying on fossil fuels is not a viable option if we want to keep our planet safe. Multiple companies in the US are focusing their attention on harnessing solar energy. We have taken a look at some of the most promising companies in this industry.
6. First Solar
Many US solar companies have faced bankruptcy in the past, indicating what a competitive and difficult business the solar industry is. First Solar has successfully survived these harsh times and made a name for itself in the process. The company is active in a lot of countries around the world and delivers cost-effective solar solutions. They are also cost-competitive with fossil fuels. Moreover, the company claims their products offer a higher specific annual energy yield, regardless of the conditions the hardware has to operate in.
First Solar has raised US$667.7m in funding through two separate rounds, and their stock is publicly traded on NASDAQ.
5. Solar Universe
It’s not easy to build up a solid reputation in the solar energy business these days. Solar Universe, based out of California, has been in the business since 2008. What makes this company so appealing is how they rolled out a locally operated and owned franchise network. Bringing energy savings to both consumers and businesses directly offers great advantages. Not only will clients enjoy cheaper solar power distribution solutions, but it also makes the state of California all the more important to the solar energy industry.
Solar Universe’s REPOWER has successfully raised US$16.6m in funding since December 2009.
4. Solar World USA
People often forget solar energy has been a booming industry for several decades now. Solar World USA is one of the pioneers in this regard, as they have been active in the business for over 40 years. Over the course of the past four decades, Solar World USA successfully positioned itself as one of the world’s largest solar technology producers. Moreover, the company focuses on developing new technologies to bring solar energy to consumers and enterprises in the US and the rest of the world. The company’s expertise gives them a competitive edge, which will benefit the consumer in the end.
Solar World – the parent company – has not raised any funds from investors according to Crunchbase.
3. PetersenDean
Some people in the US may have heard of this company before, as they specialize in roofing services combined with solar installation. The company saw the light of day in 1984, indicating they have kept their eye on solar energy for quite some time now. Despite being around for some time, PetersenDean has only recently added solar installation to their list of products and services. Then again, their vast experience in the roofing business ensures this company is positioned perfectly to combine roofing with solar installation. Interestingly enough, PetersenDean has been picked as a government contractor a few years ago.
PeterseanDean has not raised any funding from investors according to Crunchbase, nor have they made any acquisitions.
2. SunPower
When it comes to module manufacturing in the solar energy space, look no further than SunPower. They are the worldwide leader in solar cell and module manufacturing, combined with being a global leading installer of solar equipment in general. With a strong focus on the residential market, SunPower has slowly climbed the ranks in what is becoming an increasingly competitive market. It is not hard to see why SunPower is ranked in the top 3 of providers and installers of solar products within the United States. With a long list of products, ranging from DIY projects to corporate installations, the company is well worth keeping an eye on.
SunPower was successfully acquired by Total in 2011 yet remains conducting business independently ever since. The company raised US$44.5M in debt financing back in 2014.
1. SolarCity
The US residential solar installation market has gotten very competitive over the past decade. SolarCity quickly emerged as one of the main players in this regard, thanks to having their very own manufacturing division. This is rather unusual in the United States, which makes SolarCity quite appealing to both clients and investors. With financial abilities at their disposal, SolarCity is one of the go-to providers for people looking to enter the solar energy sector. The company can accommodate the needs of both residential and enterprise clients.
Tesla successfully acquired SolarCity back in 2016. The company also raised US$2.11bn through 20 different funding rounds since July 2006. A total 7 acquisitions were made by the company, and SolarCity even invested twice in Off Grid Electric.
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