Applied Value Group, an Investment, Management Consulting, and Social Impact group, has announced its acquisition of ES Solar, a residential and commercial solar and battery installer. The deal will enable ES Solar to expand its operations, launch new products, and strengthen its position in the renewable energy sector.
ES Solar offers customized renewable energy systems for residential, commercial, and industrial customers, with a unique specialization in battery storage solutions with solar.
Over 90% of its installs feature a battery, which allows customers to maximize their use of solar energy, protect their homes from power outages and participate in utility-based programs that reward clean energy usage.
Ryan Huff, Applied Value’s Consulting CEO, commented, “The residential storage industry is projected to grow by over 30% per year, and ES Solar has proven they are uniquely positioned to capture a significant part of that growth.”
The existing ES Solar team, led by CEO Chris Loock and COO Jeff Dimond, will remain in place, leveraging their expertise to collaborate closely with Applied Value Group’s resources. Through this partnership, ES Solar aims to tap into new markets, such as Texas and Nevada, and introduce new products.
Chris Loock, CEO of ES Solar, expressed enthusiasm about the acquisition, stating, “We are thrilled to join forces with Applied Value Group. This strategic partnership strengthens our position in our core markets and enables our ability to rapidly expand into other geographies. Jeff Dimond, ES Solar’s COO, said, “This will further the adoption of clean energy by accelerating the deployment of residential and commercial solar and storage systems.”
According to Mercom’s Q1 2023 Solar Funding and M&A Report, 27 solar M&A deals were transacted in Q1 2023 compared to 38 in Q4 2022. In a YoY comparison, M&A activity decreased slightly compared to Q1 2022.
