Juhl Energy, Inc. announces they have acquired solar power systems distributor PV Power, Inc. The acquisition expands the company’s ability to deliver renewable energy systems to consumers and small businesses.
In some parts of the country, wind power has figured more prominently than solar. And it still accounts for more U.S. power generation than solar.
That’s starting to change, as the cost of solar becomes more competitive with wind. This situation is aided by both falling prices and the fact that solar generation happens during the day, when demand is higher — and therefore electricity costs are also higher. Add the expiration of the wind production tax credit, and solar starts to look even more attractive.
That doesn’t mean wind power is going away, and we wouldn’t want it to. But it does mean that more wind power producers are starting to look to the sun, too. And some are expanding their solar offerings.
One of those is Juhl Energy, Inc., a provider of clean energy solutions with a focus on wind power. Today, the company announced that they have acquired PV Power, Inc., an online distributor of solar power systems and solar components to industry professionals, contractors and consumers across the country.
“If we want to continue our leadership reputation and role in renewable energy, we have to be active in the consumer and small business sector,” stated Dan Juhl, chairman and CEO of Juhl Energy, Inc. “We believe that this market is where significant growth and opportunity is obtainable — and, of course, we have to be active in the solar sector, as prices continue to drop and technology continues to advance. We view the purchase of PV Power as a smart and focused expansion strategy based on their success and the fact that they have been operating profitably for the past year.”
The acquisition is part of the company’s larger diversification strategy, and they expect their new PV arm to grow considerably as part of the Juhl Energy portfolio of companies.
Founded in 2009 and based in Chicago, Illinois, PV Power, Inc. is a solar power components distributor that specializes in the sale and distribution of solar panels, inverters, monitors, charge controllers, and solar batteries, among other products. Its self-developed web applications enable installers to plan, pitch, and purchase their solar projects seamlessly by tapping into the PV Power product catalog, and automatically generate a competitive system package.
As part of this acquisition Juhl Energy and PV Power will be launching a line of complete solar power systems. The Cabin, the Home, and the Small Business lines are packaged to offer all levels of customers a comprehensive, pre-packaged solution containing all they need for a successful, cost-effective installation. These systems are being combined with Juhl’s current Solarbank lineup to provide homeowners and small businesses with a set of simple solutions for their facilities.
Chuck Von Drehle, Director of Online Sales at PV Power, said, “This has been a great transition from PV Power to Juhl Energy and we now are associated with the country’s leading team in all aspects of renewable energy. PV Power now has greater purchasing power that will make us even more competitive in this growing marketplace.”