REC Group and Sunrun Sign Solar Panel Supply Agreement

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Global solar provider REC Group, headquartered in Norway, is looking to further increase its footprint in the U.S. Today, REC Group announced a new supply agreement with Sunrun, the largest dedicated residential solar company in the U.S., under which Sunrun will buy a minimum of 50 MW and up to 100 MW of REC’s high-quality Peak Energy Series solar panels in 2015.

“The U.S. will be an increasingly important market for REC,” said Martin Cooper, CEO of REC. “With a combination of our flexibility to selectively dispatch our products across our global market network and ability to develop a new 72-cell production capacity, we have been able to quickly position ourselves well to take advantage of this opportunity. However, in the long term, the overall high-quality and reliability of our products remain the crucial factors for past and upcoming contracts.”

“Access to high quality, high performing panels is critical in our ability to give even more consumers the choice to buy cleaner, less expensive power and achieve our vision of creating a planet run by the sun,” said Paul Winnowski, Sunrun’s chief operating officer. “Our certified installers believe REC’s high-performance PV panels are one of the best rooftop solar products available and the company’s unwavering commitment to quality, strong financial position and trustworthy reputation make them an ideal partner for Sunrun.”

This latest contract follows REC’s announcement of its 72-cell utility-scale panel product for the U.S. market and other supply agreements, which have contributed to REC doubling its U.S. order intake over the past 12 months. The company recently entered into an agreement with SolarCity for 100 – 240 MW of panels. At a time when we may be facing a panel shortage, having a guaranteed supply will be especially important for residential solar installers. Although that may not be as much of an issue in the U.S. as in smaller markets, it still doesn’t hurt to have a steady supply of panels on hand.

“This partnership with an industry leader like Sunrun further demonstrates REC’s commitment to the rapidly growing U.S. market,” said Arndt E. Lutz, senior vice president of REC Group and managing director of its North American business. “The agreement bolsters our position as a competitively priced and trade-compliant supplier of bankable PV panels.” REC is a global manufacturer of multicrystalline-silicon wafers, cells and solar panels.

The Peak Energy Series panels are backed by the company’s linear 25-year power output guarantee, and feature enhanced power production per square foot, robust and durable design, and easy installation.