Solar Power, Inc. (SPI) has reached an agreement with Paramount Energy Solutions that will see the latter purchase SPI’s residential business, operating as Yes! Solar Solutions. The residential company serves the Sacramento, Placer, Yolo and El Dorado counties from its base in Roseville. With this sale, which was executed on August 12th, SPI’s focus is placed firmly on the large- and utility-scale markets.
Steve Kircher, SPI’s Chairman and CEO, explained the reasons for the sale: “Paramount Energy Solutions has developed innovative and successful financing solutions for homeowners. This agreement is a win-win for all involved… This allows us to focus on our core competencies and operational strengths as we continue to pursue a growing number of distributed generation and utility-scale solar developments.”
Paramount Energy Solutions provides financing, custom design, solar installation, permits, rebate paperwork, and ongoing solar system monitoring via its partnership with SolarCity. Over a 10-month period, Paramount sold over 500 PV solar systems to homeowners in California and Arizona.