Verengo Reaches 75 MW Residential Solar Milestone

Implements Strategic Growth Plan Following Another Record Year of Sales

TORRANCE, CA--(Marketwired - September 16, 2014) - Verengo Inc., one of the nation's leading residential solar specialists, today announced it has reached the 75 MW (megawatt) milestone with its 13,000th residential rooftop installation. Verengo, honored last month by Inc. magazine on their 500|5000 List as one of the fastest-growing private companies in the U.S., also announced an expansion plan focusing on key strategic markets on the east and west coasts.
"Verengo is having its best sales year ever," said Ken Button, Verengo co-founder and president. "Achieving 75 MW (megawatts) of PV solar installations in only six years is a remarkable accomplishment. It reflects the success of our company's trusted values and innovative strategies designed to surpass customer expectations."
"Our business is maturing. We believe that if we focus our investment in our most profitable core markets of Southern California and the east coast, particularly New York, we can lower consumer costs, enhance customer service and drive long-term profitable growth," Button added, noting that the company recently closed a round of financing to support this growth plan.
"To better serve growing demand in other areas such as Northern and Central California, Verengo will optimize operations through our award-winning call center and through strategic channel alliances with premier solar finance and technology companies such as Clean Power Finance," noted Randy Bishop, Verengo co-founder and CEO. "The recent legislative passage of the Verengo-inspired Solar Permit Efficiency Act - AB 2188 (Muratsuchi) will also be a boon for business once signed into law by Governor Jerry Brown," he added.
Earlier this year, Verengo's Arizona call center was honored by CareerBuilder for the second consecutive year as one of the "Top Companies to Work for in Arizona." Leveraging efficiency through its call center operations is a key element of Verengo's strategic growth plan to reduce the cost of consumer acquisition and provide best-in-class customer service.
"We are committed to saving our customers money, improving their quality of life and increasing home value -- which is why we have concentrated exclusively on the residential market," Bishop said. "We believe this new legislation will save the average California homeowner more than $1,000 on the cost of a rooftop system by cutting rooftop solar permitting and interconnection times by 80%. Solar energy remains the future of American energy. Verengo's new strategic growth plan ensures our company will be an integral part of that future."

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