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NRG Energy acquires Roof Diagnostics Solar

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Princeton-based NRG Energy Inc. announced Thursday it has acquired the residential solar company, Wall Township-based Roof Diagnostics Solar, to help significantly expand NRG's effort to allow its customers to control their own energy use.

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Roof Diagnostics Solar will remain in at its headquarters in Wall Township and over the next month will begin to operate under the NRG brand, NRG said in a recent press release.

"With the price of residential solar increasingly competitive with the retail price of power in multiple states, the time is now for NRG to ramp up its efforts to bring the benefit of self generation to NRG's millions of present and future retail electricity customers," said David Crane, president and CEO of NRG Energy, in a prepared statement. "Roof Diagnostics Solar, its management and all of its dedicated employees are a perfect fit with NRG as together we take a big step towards a national residential solar business platform. With residential solar sales expected to take off in the next few years, NRG wants and expects to meet the demand of Americans in every state who are seeking to benefit from the inexhaustible supply of clean energy provided by the sun while affording themselves greater independence from an increasingly less reliable electric grid."

News of the sale comes just a few months after Charles Kelcy Pegler Sr. was indicted for allegedly stealing more than $265,000 when he was president of the roofing company, Roof Diagnostics Inc. The allegation suggested he provided misleading information to the company's workers' compensation insurance carrier, according to the state attorney general's office.

Because of those claims, the company, which ranked No. 5 on NJBIZ's 2013 list of the 50 fastest growing companies in the state, paid far less in workers' compensation insurance premiums than it should have, according to the AG's office.

RELATED: President of South Jersey solar company indicted for alleged insurance fraud

"Backed by the tremendous resources, capabilities and commitment of NRG, Roof Diagnostics can greatly increase the growth we have achieved since starting operations in 2011," Kelcy Pegler, Jr., chief executive officer of Roof Diagnostics said in a recent press release. He plans to continue to lead RDS for NRG. "We look forward to working closely with the NRG team to advance the work they have done in solar and other innovations to enable greater customer choice in their power."

According to a recent press release, RDS, which has 475-employees, is one of the largest solar sales and installation companies in America.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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Comments


Lawrence Crushing said:

Ray I agree with you almost 100%. I don't think NRG Energy is trying to save an outdated model, but rather vertically integrate because they see where the future is pointed. Energy production is going to change dramatically and one of the biggest growing market segments, as you pointed out, is solar roofing. Combine that with the tax incentive and it's a no brainer for homeowners. I would see NRG Energy diversifying its offering and solar roofing is one great way to go.  Hopefully NRG's future will hold more of this kind of energy production.

April 25, 2014 3:48 pm

Ray Boggs said:
The solar lease and PPA companies are just trying to save their outdated business model. Solar has dropped to such a low price today that even the 30% tax credit is no longer needed to get a great return on investment. For example: Hyper X Solar’s N-Type, thin film passivated, tunneling junction architecture already provides higher efficiency, a smaller footprint and a much lower cost which makes At just $2.14 per watt, Hyper X solar’s price/performance ratio hard to compete against when compared to many of the solar lease and PPA company’s poorer performing offerings.

Hyper X solar offers a better PTC to STC ratio “Real World” performance according to the California Energy Commission’s performance rating listings than over 100 of SunPower’s solar panel models.

Hyper X solar also offers an incredible -0.27%/degree C temperature coefficient rating for awesome performance in hot/warm climates and best of all Hyper X solar systems are priced thousands less and even tens of thousands less on larger systems than a SunPower solar system. http://vimeo.com/79755125

April 6, 2014 3:17 pm



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