New England photo voltaic installer ReVision Power is buying Massachusetts-based Sunbug Photo voltaic. The acquisition implies that ReVision Power, the most important employee-owned photo voltaic installer within the nation, will now have the ability to service extra residents and enterprise homeowners throughout Massachusetts, Maine and New Hampshire.
A bigger ReVision Power with extra bandwidth will assist Massachusetts attain Governor Maura Healey’s bold renewable vitality objectives, which embody doubling photo voltaic targets, quadrupling vitality storage deployment and placing 1 million electrical autos on the highway by 2030. ReVision Power brings a holistic set of all-electric know-how – warmth pumps, warmth pump water heaters and battery storage – to Sunbug, permitting clients to additional scale back family dependence on fossil fuels. In keeping with a latest state research, greater than 10-times the present quantity of photo voltaic will must be put in to generate the 34 GW needed for Massachusetts to achieve its decarbonization objectives. By working collectively, leaders of Sunbug Photo voltaic and ReVision Power can do extra installations, advocate extra successfully for clear vitality regulation, present a complete vary of photo voltaic vitality options, and enhance useful 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 vitality. This purpose can’t be achieved alone or completed in a means that leaves out susceptible communities,” mentioned 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 affect the longer term in a good and simply means. Collectively, we’ll expedite the renewable vitality revolution and assist extra Massachusetts residents entry this useful useful resource. We’re excited to convey the Sunbug staff 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,” mentioned DiPietro. “We share widespread values, processes, and an unwavering dedication to do proper by our workers, clients, and the communities we serve. Our expertise within the extremely aggressive Massachusetts photo voltaic market is that clients are on the lookout for an vitality firm they will belief, and ReVision is the associate 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 impartial photo voltaic firms.
The model transition will happen steadily over the subsequent 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 workers will be a part of ReVision Power’s staff of 400 worker co-owners and change into eligible to be employee-owners as nicely. Sunbug Photo voltaic’s 3,000 purchasers can be serviced by ReVision Power’s staff.
Information merchandise from ReVision Power
