NRG Energy, Inc. Buys Rooftop Solar Company

NRG Energy  (NYSE: NRG  ) announced today that it has acquired Roof Diagnostics Solar to add on to its rooftop solar business. 

According to NRG Energy's press release, Roof Diagnostics Solar is one of the largest solar sales and installation companies in the nation. While it's focused primarily on the Northeast, its operations are now pushing into California and elsewhere. 

Although NRG Energy didn't disclose financial details in its announcement, the company seems to have big plans for its latest purchase.

"With the price of residential solar increasingly competitive with the retail price of power in multiple states, the time is now for NRG to ramp up its efforts to bring the benefit of self generation to NRG's millions of present and future retail electricity customers," said David Crane, president and CEO of NRG Energy. He was quoted as saying NRG and RDS would be taking "a big step toward a national residential solar business platform. ... NRG wants and expects to meet the demand of Americans in every state who are seeking to benefit from the inexhaustible supply of clean energy provided by the sun while affording themselves greater independence from an increasingly less reliable electric grid."

Roof Diagnostics Solar has only been in operation since 2011, but CEO Kelcy Pegler, Jr. was quoted as saying the resources of NRG will allow his 475-person company to "greatly increase" its current growth trajectory.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2893464, ~/Articles/ArticleHandler.aspx, 11/24/2014 1:11:22 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 17,798.23 -11.83 -0.07%
S&P 500 2,066.48 2.98 0.14%
NASD 4,742.17 29.20 0.62%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

11/24/2014 12:55 PM
NRG $31.23 Down -0.08 -0.26%
NRG Energy, Inc. CAPS Rating: ****

Advertisement