Verengo Solar was a solar-energy company based in Torrance, California.
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Company overview
In 2008, Verengo was founded by Ken Button and Randy Bishop. It subsequently opened offices in Anaheim, Concord, California and White Plains, New York. Silicon Valley Business Journal described the company as a "residential solar installation company provid[ing] financing, design and solar installation services". The firm received $9.7 million in venture capital in 2011 and an additional $12.5 million in 2013. In 2011 the company moved its headquarters to Torrance, California. By 2012, the company was one of the eight hundred fastest growing companies in the United States according to Inc. Magazine, with a revenue of over one hundred million dollars that year and more than seven hundred employees. The company has been called one of the top competitors in the US solar panel industry. GTM Research named Verengo Solar the number three installer in the U.S. residential solar market in 2013.
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Business
In November 2013 the company installed their 10,000th residential solar power system. The company was covered in Inc. Magazine for their lead turnover techniques and ability to cement new customers. It sells and leases systems to homeowners, with leased systems transferred between homeowners upon the sale of a home. Inc. Magazine ranked Verengo as one of the top forty job creating companies in the US during 2013. It was also named the number one solar-installation only energy company in the US in 2013.
It was announced in early 2015 that NRG Energy had acquired the New York market of Verengo Solar. The move allows Verengo to re-direct its focus back into its core California market.
Source of the article : Wikipedia
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