NRG Energy Expands Its Rooftop Solar Installation Presence by Acquiring Roof Diagnostics Solar

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NRG Energy acquires one of the nation’s leading residential solar companies, Roof Diagnostics Solar. RDS will complement NRG’s extensive network of independent solar installers and dealers and significantly increase NRG’s ability to meet the growing demand for high-quality residential solar services.

The CEO of the country’s largest independent electricity producer NRG Energy, Inc. (NYSE:NRG), David Crane, has been quoted as saying that utility customers are realizing “they don’t need the power industry at all.”

Fast-forward a year, and NRG Energy announced plans to acquire rooftop solar installers to get ahead of the “profound transformation” it sees happening in the energy industry.

 

Just a day later, the company announced that it has acquired one of the nation’s leading residential solar companies, Roof Diagnostics Solar. NRG Energy said it will continue empowering its customers to control their own energy through clean self-generation. RDS will complement NRG’s extensive network of independent solar installers and dealers and significantly increase NRG’s ability to meet the growing demand for high-quality residential solar services. Terms of the transaction were not disclosed.

 

“With the price of residential solar increasingly competitive with the retail price of power in multiple states, the time is now for NRG to ramp up its efforts to bring the benefit of self generation to NRG’s millions of present and future retail electricity customers,” said Crane. “Roof Diagnostics Solar, its management and all of its dedicated employees are a perfect fit with NRG as together we take a big step towards a national residential solar business platform. With residential solar sales expected to take off in the next few years, NRG wants and expects to meet the demand of Americans in every state who are seeking to benefit from the inexhaustible supply of clean energy provided by the sun while affording themselves greater independence from an increasingly less reliable electric grid.”

 

“Backed by the tremendous resources, capabilities and commitment of NRG, Roof Diagnostics can greatly increase the growth we have achieved since starting operations in 2011,” said Kelcy Pegler, Jr., Chief Executive Officer of Roof Diagnostics, who will continue to lead RDS for NRG. “We look forward to working closely with the NRG team to advance the work they have done in solar and other innovations to enable greater customer choice in their power.”

 

RDS is one of the largest solar sales and installation companies in America and a market leader in every state where it operates. The 475-employee company has experienced tremendous growth in just a few short years in the Northeast and is now expanding into California and other areas.

 

“Together, the RDS team and NRG’s existing extensive network of independent residential solar installers and dealers will allow us to give customers and potential customers significant options in creative and compelling home power systems,” said Denise Wilson, President of NRG New Businesses. “NRG’s expertise to help customers make an informed decision on residential solar just got better as did the confidence customers can have knowing that an experienced Fortune 500 company is behind their solar installation and ensuring it reaches its maximum potential.”

 

RDS’ headquarters will remain in Wall Township, New Jersey. Over the next month, the company will begin operating under the brand NRG Residential Solar Solutions.

 

 

Today, NRG also announced that through its subsidiaries, including NRG Yield, Inc. and NRG Solar, one of the nation’s largest solar developers, it now owns and operates more than 1200 MW of solar capacity. Through these facilities, NRG helps power nearly one million homes at full output.


NRG Solar’s portfolio of solar thermal and PV projects has more than doubled since the end of 2012.


“The completion of our most ambitious projects yet, and the commercial availability of the clean power they produce, clearly positions NRG as one of the largest and most progressive companies in the energy space today,” said Tom Doyle, President, NRG Solar. “As we look forward to 2014 and beyond, we’ll continue to help reshape the US energy landscape with our thriving renewable energy portfolio, as well as looking at more opportunities outside the US.”