Solar Universe Exceeds Growth Expectations Capping Off Successful 2013 Year
Key Acquisitions and an Increase in Franchise Offices Across the Country Lead to Impressive Year for Bay Area Company
SAN FRANCISCO - December 19, 2013 - (BUSINESS WIRE) - Solar Universe, Inc. (www.solaruniverse.com), the leader in solar franchising, today released significant growth numbers solidifying a positive 2013 year. The Livermore-based company grew 56% year-over-year, yielding $61M in 2013. Additionally, the company added a significant number of franchises to its portfolio, introduced key players to the Solar Universe team and acquired one of the nation’s leading distributed electricity companies and pioneer in direct sales.
"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."
"The solar industry is growing as consumers are seriously looking for alternative energy options," said Joe Miller, EVP at Solar Universe. "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."
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. Being the only national player armed with the ability to service consumers on their terms is a tremendous asset to the Solar Universe brand. Since the acquisition, Solar Universe has seen a 20-25% boost in deals signed and expects to see that number 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 and opened a number of franchises in major U.S. cities, including Boston, Denver and most recently San Diego and Long Island. In addition to domestic franchises, Solar Universe went international, opening an office in Puerto Rico during the Spring. In 2014, the company expects to add an additional 20 offices throughout the U.S.
"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."
For more information about Solar Universe, please visit: www.solaruniverse.com
About Solar Universe
Solar Universe is the leading solar franchising concept bringing solar panels to consumers through its network of locally owned and operated install franchises. Using a scalable franchise model, Solar Universe is changing the face of the solar industry by enabling consumers to produce power at home through easy and affordable installation. The company was founded in 2008 by President and CEO, Joseph Bono, and has 42 locations in the United States.
For Solar Universe