Inform - Duke Fully Acquires REC Solar, Positioning the Duo for Growth in C&I Solar
On December 6th, Duke Energy Renewables (Duke) announced the acquisition of the remaining shares of REC Solar, a fullyintegrated solar developer that operates mostly in California, Hawaii, and Massachusetts. Duke has owned a majority stake in REC Solar since February 2015, and that investment has coincided with consistent growth in REC Solar’s installation volumes. Although REC Solar is struggling with profitability this year, Duke’s strategy to cross-sell commercial energy services via REC Solar mimics that of other utility affiliates who are expected to grow their 2017 market shares.
This short report looks at the acquisition and its potential implications for the U.S. C&I solar market.
This report is only available to subscribers of GTM Research's U.S. Downstream Distributed Solar Service.