Paramount Energy Solutions acquires Solar Power Inc.’s residential business

ROSEVILLE, USA: Solar Power Inc. has reached an agreement to sell its residential business serving Sacramento to Paramount Energy Solutions.

The company’s Roseville-based operation, doing business locally as Yes! Solar Solutions, serves the residential solar market in Sacramento, Placer, Yolo and El Dorado counties. The transaction marks a sharpened focus for Solar Power, Inc., on large-scale distributed generation and utility-scale solar developments.

“The residential solar business can be challenging in the current economic climate, especially with respect to financing residential solar systems through conventional means,” said Steve Kircher, chairman and CEO of Solar Power, Inc.

“Paramount Energy Solutions has developed innovative and successful financing solutions for homeowners,” Kircher pointed out.

“This agreement is a win-win for all involved. We’re proud to share an exclusive alliance with Paramount Energy Solutions in the development of the residential solar market. 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,” Kircher concluded.

In just over 10 months of operation, Paramount Energy Solutions (PES) has sold over 500 PV solar systems to homeowners in CA and AZ. PES aims to make going solar simple for its customers. The company provides financing, custom design, solar installation, permits, rebate paperwork, and ongoing solar system monitoring from a single source through its partnership with SolarCity. With PES’s innovative financing options, customers are able to start saving money on their energy bills in the first month of service with no upfront costs.

“We are excited about this agreement with Solar Power Inc.,” said Hayes Barnard, CEO of Paramount Energy Solutions. “Our company’s focus is in helping homeowners save money on a monthly basis. We look forward to assisting those customers currently working with Yes!,” Barnard concluded.

The transaction was executed on August 12th between Solar Power Inc. and Paramount Equity, Paramount Energy Solution’s parent company. PES will begin working with Yes!’s prospective customers immediately.