Sunworks Inc
We provide photovoltaic (“PV”) based power systems for the agricultural,
commercial, industrial, public works, and residential markets in California,
Nevada, Oregon, and Washington. We have direct sales and/or operations personnel
in California, Florida, Massachusetts, Nevada, Oregon, and Texas. Through our
operating subsidiaries, we design, arrange financing, integrate, install, and
manage systems ranging in size from 2kW (kilowatt) for residential loads to
multi MW (megawatt) systems for larger commercial and public works projects.
Commercial installations have included installations at office buildings, manufacturing
plants, warehouses, churches, and agricultural facilities such as farms, wineries,
and dairies. Public works installations have included school districts, local
municipalities, federal facilities and higher education institutions. The Company
provides a full range of installation services to our solar energy customers
including design, system engineering, procurement, permitting, construction,
grid connection, warranty, system monitoring and maintenance.
We currently operate in one segment based upon our organizational structure
and the way in which our operations are managed and evaluated.
In our residential business, we have expanded our methods of acquiring customers
to include collaborating with third party residential sales companies. We believe
that the scarce resource in the residential solar industry is quality, economic
installations in which customers can trust. We provide outstanding operations
and customer support, which have driven substantial demand for our branded installations.
The result is that our sales partners can sell with confidence knowing that
they are backed by installation and operations on which they can rely. Our relationships
with strong residential sales organizations is enhanced by our small team of
in-house direct sales personnel and our effective referral business through
our “Power Pay Plan”.
Our strategy for near-term growth is focused on organic growth through continued
expansion in California augmented by growth in other U.S. geographies. In addition,
in 2017 we experienced success by winning new projects with public works customers
and national commercial accounts. In the longer-term, we believe that the competitors
in the solar industry will consolidate and that we will be able to enhance our
growth and scale through accretive acquisitions. With scalable administrative
and operational infrastructure in place, we believe our current approach for
organic growth will lead to increased profitability and positive cash generation.
We anticipate taking advantage of the long-term growth in the solar market as
well as gaining market share relative to competitors.