TORRANCE, CA--(Marketwired - August 27, 2013) - Verengo Inc., the nation's leading residential solar specialist, announced today it was again named to the Inc. 500|5000 List, an exclusive ranking of the nation's fastest-growing private companies. The comprehensive list represents the most important segment of America's economy -- independent entrepreneurs.
Verengo ranked #34 on the national energy sector list and achieved a national ranking of #779 on the 2013 list -- by growing its revenue from $62.5M to $106M over the past year, and 583% over the past three years.
"We are honored to again be included on this prestigious list and to be the first ever residential solar specialist to reach $100M in annual revenue -- this confirms the growing accessibility of home solar," said Verengo CEO and Co-Founder Randy Bishop. "Due to the dramatic reduction in panel and installation costs and the introduction of zero down leasing, our product is now available to middle and lower income households much like how automobile and air travel became affordable to prior generations."
"2012 was another tremendous year for the Verengo team," said Verengo President and Co-Founder Ken Button. "Achieving our first $100 million year in revenue is a significant landmark both for our company and for the industry itself. We believe rooftop solar has reached a tipping point in California and other states such as New York and New Jersey."
"PV solar is the fastest growing source of power in the world," added Button. "It has already arrived in many cities and states around the country and is on the way to becoming a national product."
"Not all the companies in the Inc. 500 | 5000 are in glamorous industries, but in their fields they are as famous as household name companies simply by virtue of being great at what they do. They are the hidden champions of job growth and innovation, the real muscle of the American economy," said Inc. magazine Editor Eric Schurenberg.
The 2013 Inc. 500/5000, unveiled in the September issue of Inc. is the most competitive crop in the list's history. The Inc. 500/5000's aggregate revenue is $14.1 billion, with a median three-year growth of 1739 percent. The companies on this year's Inc. 500/5000 employ more than 52,100 people and generated over 44,912 jobs in the past three years. Complete results of the Inc. 500|5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at http://www.inc.com/500.
Verengo Inc. is changing the way America thinks about solar! Verengo is ranked #1 on the Solar Power World list of Top Residential Solar Contractors in the U.S., has been named to Inc. Magazine's List of America's Fastest Growing Companies and consistently maintains an A+ rating with the Better Business Bureau. The company markets, sells and installs solar photovoltaic systems, which enable homeowners to save money on their electricity bills and replace dirty electricity with clean, renewable energy. Verengo has grown 700% over the past 4 years and has added 900 new employees over that period. A recent survey found that 97% of Verengo customers would refer Verengo to their friends and family. The company has earned this recognition and customer satisfaction by making solar easy and affordable for its customers and delivering superior customer service. All of this, while making the planet a better place to live. For more information on Verengo Solar, visit www.verengosolar.com.
- Nature & Environment