City Electric Supply (CES) is set to acquire PV equipment distributor Soligent. The company will become a subsidiary of CES, assuming leadership of CES’s renewables division.
Soligent distributes a variety of models of solar panels, inverters, energy storage solutions, racking, charge controllers, and monitoring equipment. It carries products from SolarEdge, Enphase, Canadian Solar, Trina, Hanwha and more across the U.S.
The transaction follows CES’s acquisition of Segen, a wholesale distributor of residential and commercial rooftop PV systems with operations in the UK, Germany, and South Africa.
CES and Soligent said their combined strengths will further support the companies’ 50% growth rates.
High growth rates for solar distribution may continue, as the U.S. Department of Energy (DOE) targets moving solar from 3% of all generation today to over 40% by 2035. DOE said this level of deployment would entail a three-to-four times increase in current deployment rates.
Such investment in solar may lead to as many as 500,000 to 1,500,000 solar industry workers by 2035, said DOE, effectively multiplying the current workforce of 231,000. Notably, the industry peaked employment levels in 2016 at 260,000, but increases in workforce productivity and the COVID-19 pandemic have slowed jobs numbers in recent years.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.