Vt. solar firm becomes nation's largest
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By Josh O'Gorman STAFF WRITER - Published: February 24, 2009
WHITE RIVER JUNCTION – A local solar company announced an acquisition that will make it one of the largest of its kind in the United States.
Thursday, groSolar said it has acquired the residential solar division of Borrego Solar Systems, of El Cajon, Calif. Neither company disclosed the financial terms of the agreement.
While Borrego said in a statement it will continue work in its commercial and government division with its acquisition of the residential branch of the company, groSolar said it is now the fourth-largest residential solar installer in the United States.
The company got its start in 1998 in the living room of husband and wife, Jeff and Dori Wolfe, in Strafford. Originally called Global Resource Options, the Wolfes – each with degrees in mechanical engineering from Cornell University – provided renewable energy systems to homes, businesses and dealers and by 2001 they supported 100 percent of the business through renewable energy sales.
Through a series of acquisitions, groSolar has taken a larger share of the national solar market and today the company has locations in 12 states, as well as in Barrie, Ontario, Canada.
"We are in more states installing residential solar than any other company in the United States," said Jeff Wolfe, now CEO of groSolar. "I think that's a great thing coming from little Vermont."
Wolfe said his company will stay focused on the three branches of the company — commercial and residential installations and distribution. In May, the company completed a high-profile installation of a solar hot-water system at Fenway Park in Boston and is expected to break ground this spring on a project for Green Mountain Coffee Roasters.
Despite the large commercial projects, Wolfe said groSolar will continue to pursue residential projects and says his company can install a home solar system in as little as two days. Wolfe said his company will soon begin a significant advertising campaign in the residential areas serviced by Borrego, most of which are in California with a location in Massachusetts.
josh.ogorman@rutlandherald.com
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