Inform - Duke Fully Acquires REC Solar, Positioning the Duo for Growth in C&I Solar

by Michelle Davis

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.

Michelle Davis Senior Analyst, Solar

Michelle Davis is a senior solar analyst at GTM Research with a focus on the downstream US distributed solar market. She tracks the competitive landscape of installers, financiers and technology providers in the residential and commercial market segments. Prior to joining GTM Research, Michelle held various research positions focused on renewable energy, covering topics as varied as the energy water nexus to utility investments in electric vehicle charging stations. She has a BS in Biology from Arizona State University and is currently pursuing an MBA from Antioch University with a focus on sustainability.

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