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New England photo voltaic installer ReVision Power is buying Massachusetts-based Sunbug Photo voltaic. The acquisition signifies that ReVision Power, the most important employee-owned photo voltaic installer within the nation, will now be capable to service extra residents and enterprise house owners throughout Massachusetts, Maine and New Hampshire.
A bigger ReVision Power with extra bandwidth will assist Massachusetts attain Governor Maura Healey’s bold renewable power targets, which embrace doubling photo voltaic targets, quadrupling power storage deployment and placing 1 million electrical autos on the highway by 2030. ReVision Power brings a holistic set of all-electric expertise – warmth pumps, warmth pump water heaters and battery storage – to Sunbug, permitting clients to additional scale back family dependence on fossil fuels. In accordance with a current state examine, greater than 10-times the present quantity of photo voltaic will have to be put in to generate the 34 GW mandatory for Massachusetts to succeed in its decarbonization targets. By working collectively, leaders of Sunbug Photo voltaic and ReVision Power can do extra installations, advocate extra successfully for clear power regulation, present a complete vary of photo voltaic power options, and enhance helpful electrification throughout New England.
“If we’re to keep away from the worst impacts of local weather change, we have to scale back greenhouse fuel emissions and transition to wash and renewable power. This aim can’t be achieved alone or accomplished in a manner that leaves out weak communities,” stated Fortunat Mueller, CEO and President of ReVision Power. “We’ve had a protracted relationship with Sunbug by means of our mutual membership within the Amicus Photo voltaic Cooperative, so we all know our missions align to impress the long run in a good and simply manner. Collectively, we’ll expedite the renewable power revolution and assist extra Massachusetts residents entry this worthwhile useful resource. We’re excited to carry the Sunbug workforce on as ReVision Power employee-owners.”
ReVision Power established its Massachusetts department in North Andover in 2017. Collectively, the 2 organizations have accomplished greater than 4,000 installations within the Bay State and 18,000 throughout New England.
Sunbug Photo voltaic CEO Janice DiPietro will transition to a management function at ReVision Power.
“The alignment between our two firms is extraordinarily robust,” stated DiPietro. “We share frequent values, processes, and an unwavering dedication to do proper by our staff, clients, and the communities we serve. Our expertise within the extremely aggressive Massachusetts photo voltaic market is that clients are in search of an power firm they’ll belief, and ReVision is the accomplice we belief to construct on our 14-year popularity of unwavering high quality.”
Each ReVision Power and Sunbug Photo voltaic are B Corp-certified organizations and members of the Amicus Photo voltaic Cooperative, which represents values-driven unbiased photo voltaic firms.
The model transition will happen steadily over the following few months and is predicted to be full in mid-2024. As soon as the deal is full, Sunbug Photo voltaic’s workplaces in Woburn and Westfield will unite with ReVision Power’s North Andover workplace and can all function beneath the ReVision Power model to serve Massachusetts clients.
ReVision Power is employee-owned and makes use of a construction referred to as the Worker Inventory Possession Plan (ESOP). As a part of the deal, Sunbug Photo voltaic’s 60 staff will be part of ReVision Power’s workforce of 400 worker co-owners and change into eligible to be employee-owners as effectively. Sunbug Photo voltaic’s 3,000 shoppers might be serviced by ReVision Power’s workforce.
Information merchandise from ReVision Power