Yet another solar services company — the firms that install, maintain and sometimes own the panels on houses and businesses — has gained venture funding, with New Rochelle, NY-based Aquus Energy taking an undisclosed amount.
Like others, Aquus is a full-service company, handling everything from permitting to warranties. The company also installs solar thermal and hot water, generators, and other systems.
There’s plenty of room for growth for these companies, as each tends to operate in its own distinct geographic area. Aquus, for example, works in the mid-Atlantic and Northeast. However, the number of similar companies seeking financing has multiplied, and in time they will begin to compete.
The funding was provided by Oppenheimer, an investment bank and firm that also does venture rounds. It was Aquus’s first.