First Power and Light Changing Name to VOLT and Expanding Business to Wholesale Solar Panel Distribution

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First Power and Light changes its name to VOLT Solar Systems. The company is also expanding its business in the growing U.S. solar market to focus on wholesale solar panel distribution, as well as strategic acquisitions of wholesale solar panel distributors.

 

First Power and Light, Inc. (VOLT) announced today that it is in the process of changing its name to VOLT Solar Systems, Inc. The name change is expected to be effective April 11, 2014. The company is also expanding its business to focus on wholesale solar panel distribution across the U.S. marketplace, as well as strategic acquisitions of wholesale solar panel distributors.

 

The U.S. solar market was valued at $13.7 billion in 2013. The market is expected to grow over 20% in 2014, and a record number of installations are being developed. In this environment, the company believes that focusing on supplying solar panels will generate strong revenues.

 

VOLT anticipates selling a wide range of panel brands, including SunPower, SolarWorld, UE Solar, Trina, Yingli Solar, and Suntech. The company’s goal is to provide customers across the U.S. and Canada access to competitively priced solar panels in volume amounts, benefiting from economies of scale and discounts.

 

As part of this strategy, VOLT is currently developing a streamlined shipping and logistics infrastructure capable of handling multi-megawatt monthly orders. This process will entail establishing distribution hubs across the U.S. and expanding the company’s sales force. In addition to its national office in Bridgeport, PA, VOLT plans to open Regional Sales and Distribution Offices in Houston, Texas, Phoenix, Arizona, and Los Angeles, California.

 

VOLT is also looking for opportunities to conduct strategic acquisition and partnership agreements with wholesale panel distributors and manufacturers. The company will continue to develop its Engineering, Procurement, and Construction (EPC) division, focusing on installing solar arrays for residential and commercial customers in the Mid-Atlantic region.