Akeena Solar announces company name change and second quarter financial results

Facebook
Twitter
LinkedIn
Reddit
Email

Effective July 23, 2010, Akeena Solar will carry out its operations under the name Westinghouse Solar and change its ticker symbol to WEST. Additionally announced was the company’s second quarter revenue earnings for the period that ended on June 30, 2010. Total revenue for the quarter came in at US$9.9 million, the highest level of revenue in six quarters.

“Our revenue performance during the quarter reflects the growing consumer interest in our revolutionary AC solar panels, our progress in developing new distribution channels and our improving operational efficiency,” said Gary Effren (pictured), president. “Residential installation revenue grew each month during the second quarter reaching $7.5 million, our highest result since the fourth quarter of 2008 and our best quarter ever for California residential installation revenue. Distribution revenue also had a record quarter and contributed 22% of total revenue. Additionally, since entering the distribution business one year ago, we have increased our dealer network of solar installers, HVAC contractors, electricians and roofers to 100 dealers located in 30 states and Canada.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

In regards to Akeena’s name change, after shareholder approval is finalized, the company is looking to complete the necessary steps to change the name of the corporation to Westinghouse Solar. For now, Akeena will file with the Securities and Exchange Commission under the name Akeena Solar, Inc. dba Westinghouse Solar. Operation of the company’s installation division in California will remain under the name Akeena Solar.

“Solar is going mainstream, and well-known brand names are key to widespread consumer adoption. In May, we announced a partnership with Westinghouse, which unites their trusted brand name with our safe and reliable solar panels,” said Barry Cinnamon, CEO. “As Westinghouse Solar, we will continue to drive the adoption of solar power through our own installation services, through our retail channel via Lowe’s Home Improvement stores and through our expanding dealer channel network in the United States and Canada.”

Read Next

September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines