About REC Solar
REC Solar is a company based in San Luis Obispo (United States) founded in 1997 was acquired by Duke Energy in December 2017.. REC Solar has completed 1 acquisition, including Stellar Energy. REC Solar offers products and services including Onsite Solar, Energy Storage, and Community Solar. REC Solar operates in a competitive market with competitors including Enel X, Origis Energy, Hillman Group, Borrego Solar and Depcom Power, among others.
- Headquarter San Luis Obispo, United States
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Sectors
Energy & Utilities
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Rec Solar, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
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Investors
Duke Energy
& 1 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Acquired by
Duke Energy
(Dec 07, 2017)
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Products & Services of REC Solar
REC Solar offers a comprehensive portfolio of products and services, including Onsite Solar, Energy Storage, and Community Solar. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Designs and installs commercial solar systems to lower energy costs.
Provides storage systems to optimize solar energy and reduce grid reliance.
Develops solar projects for community access and renewable energy sharing.
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Funding Insights of REC Solar
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Oct, 2023 | Amount | Unspecified - REC Solar | Valuation | ArcLight |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in REC Solar
REC Solar has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Duke Energy and ArcLight. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Infrastructure investments are focused on energy transition and digital economy by ArcLight.
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Founded Year | Domain | Location | |
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Renewable electricity is produced and distributed across multiple states.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by REC Solar
REC Solar has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Stellar Energy. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Manufacturer of energy storage system
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2004 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - REC Solar
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Rec Solar Comparisons
Competitors of REC Solar
REC Solar operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Enel X, Origis Energy, Hillman Group, Borrego Solar and Depcom Power, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Utility-scale renewable energy projects are developed by Enel X.
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| domain | founded_year | HQ Location |
Utility-scale and commercial solar projects are developed worldwide.
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| domain | founded_year | HQ Location |
Hardware and home improvement products are supplied to retail markets.
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| domain | founded_year | HQ Location |
Solar EPC
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| domain | founded_year | HQ Location |
Solar projects are designed, procured, constructed, operated, and maintained.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Rec Solar
Frequently Asked Questions about REC Solar
When was REC Solar founded?
REC Solar was founded in 1997 and raised its 1st funding round 26 years after it was founded.
Where is REC Solar located?
REC Solar is headquartered in San Luis Obispo, United States. It is registered at San Luis Obispo, California, United States.
Who is the current CEO of REC Solar?
Matthew Walz is the current CEO of REC Solar.
What does REC Solar do?
REC Solar was founded in 1997 and is headquartered in San Luis Obispo, United States. Operations focus on the solar energy sector, where commercial project design, installation, and turnkey EPC services are provided to businesses and large organizations across the USA. Financing solutions are also offered. Over 170 MW of solar panels have been installed in more than 500 projects.
Who are the top competitors of REC Solar?
REC Solar's top competitors include Enel X, Origis Energy and Hillman Group.
What products or services does REC Solar offer?
REC Solar offers Onsite Solar, Energy Storage, and Community Solar.
How many acquisitions has REC Solar made?
REC Solar has made 1 acquisition, including Stellar Energy.
Who are REC Solar's investors?
REC Solar has 2 investors. Key investors include Duke Energy, and ArcLight.
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