Advantage Capital announces investment in residential PV company Momentum Solar in US

This financial boost will also create 150 new jobs over the span of three years. Image: Martin Abegglen / Flickr

Advantage Capital has signed off on a $4.1 million investment in Momentum Solar, a residential solar company providing solar design, engineering and installation services across New Jersey, New York and five other states.

The investment, secured as part of the Grow NJ program, will support Momentum’s expansion plans, which includes the comapny’s move into a new headquarters building in South Plainfield, New Jersey.

By moving to this new headquarters, four times larger than its previous office, Momentum will be able to maintain its operations in New Jersey and retain hundreds of jobs that could have left the state. This financial boost will also create 150 new jobs over the span of three years.

Assemblywoman Nancy Pinkin said: “I’m thrilled to see the growth in Momentum Solar, which has created hundreds of high quality jobs that strengthen our economy and our state’s commitment to adopting clean, renewable energy. As we continue to take steps to improve and expand New Jersey’s renewable energy programs, businesses like Momentum are helping to build a stronger, cleaner and healthier tomorrow for all New Jersey families.”

Momentum CEO and co-founder Arthur Souritzidis added: “Our tremendous growth is a direct reflection of the work our employees put in every day. We began this company with a simple mission: to enable homeowners to generate cleaner, price-protected power, while bettering the environment.

“That remains our focus today and we couldn’t do it without the support of our 1000-plus employees and our loyal customers. We are thankful for them, as well as our financing partners who share our commitment to creating true impact within the solar community and our home state of New Jersey.”

One of the fastest-growing companies in the Garden State, Momentum has transformed for a four-person operation in 2009 to an entity with an expected 1,200 employees by the end of 2018.

4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.

Read Next

September 22, 2022
The RE+ tradeshow has been full of hope, excitement but also short-term questions as the industry considers the significance of the IRA.
September 22, 2022
Qcells has heightened its commitment to the global solar supply chain as its parent company, Hanwha Solutions, increases investment in clean raw materials.
September 22, 2022
Wood Mackenzie has repeated warnings that module supply shortages are set to persist until the end of 2023.
September 21, 2022
Cost certainty, reducing wait times and more flexible agreements with utilities are crucial to solving the US’ interconnections problems that are holding the country back from reaching its renewables targets
September 20, 2022
From module makers and BOS producers to utility-scale developers and community solar companies, the Inflation Reduction Act (IRA) has taken centre stage at this year’s RE+ in Anaheim, California.
September 20, 2022
Microinverter supplier Enphase Energy is witnessing soaring demand for its products in Europe for self-consumption as the continent’s energy crisis is increasing causing people to look to residential solar PV

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 27, 2022
15:30 AEST (UTC +10)
Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)