Solar Universe releases significant growth numbers solidifying a positive year. The Livermore-based company grew 56% year-over-year, yielding $61 million in 2013.
Solar franchiser Solar Universe today released significant growth numbers solidifying a positive year. The Livermore-based company grew 56% year-over-year, yielding $61 million in 2013.
“Growth at Solar Universe has been consistent and we’re continuing success from a number of different standpoints,” said Joe Bono, CEO of Solar Universe. “Our customer base has grown 73% and the company’s network-wide revenue has grown 56% year-over-year. This industry continues to grow in popularity and we’re looking forward to what 2014 will bring.”
The company added a significant number of franchises to its portfolio in a number of major U.S. cities, and expanded overseas by opening an office in Puerto Rico. In 2014, the company expects to add an additional 20 offices throughout the U.S., the company said in a statement.
A key moment for the company came when they acquired Gen110. The acquisition enabled Solar Universe to provide a low-cost way of acquiring customers, without expensive marketing campaigns. The addition of Gen110 gives Solar Universe more opportunities to reach a wider range of customers with a cost-effective and proven method. According to Solar Universe, since the acquisition, the company has seen a 20-25% boost in deals signed. That number is expected to increase another 20-30% by the end of Q2 2014.
Alongside the Gen110 acquisition, Solar Universe unveiled a new online design center to simplify and expedite the solar sales experience.
Joe Miller, EVP at Solar Universe, commented: “The solar industry is growing as consumers are seriously looking for alternative energy options. 2013 specifically enabled Solar Universe to leverage this industrywide growth spurt and ultimately expand into new territories. The successful expansion of our company is a true testament to consumer demand and the ongoing need for alternative energy solutions.”