Generac Holdings Inc. reports news on its energy technology and power products business, including generators, energy storage systems, energy management devices and outdoor power equipment for residential, commercial, data center, telecom, rental and industrial markets.
Recurring developments include earnings and segment updates for Residential and Commercial & Industrial, product launches such as diesel generators and DR Power outdoor equipment, storm-readiness initiatives tied to backup power, and distributed energy resource collaborations for resiliency, demand response and grid capacity. Company updates also cover investor presentations, manufacturing-industry governance participation, and market demand for home standby, portable and mission-critical power solutions.
Generac Power Systems (NYSE: GNRC) has announced the launch of its first electric vehicle charger, aimed at meeting the increasing demand for EVs in the U.S. The 48A / 11.5kW Level 2 home charger can charge vehicles in four to six hours and is compatible with nearly all EVs. Generac emphasizes the reliability and trust in its brand, which has been a leader in energy technology for nearly 65 years. The charger will be available through various retail channels and offers in-home consultation for installation. Mass marketing is set for the second half of 2023.
Generac Grid Services, a subsidiary of Generac Power Systems (NYSE: GNRC), announced a milestone achievement in energy delivery for 2022. The company delivered over 34 GWh of capacity during peak demand periods, utilizing its Concerto™ platform. Key highlights include:
- 2.5 million individual DER dispatches
- 36,500 events from 18 utility clients
- 8,000 hours of cumulative DER dispatch
Generac Industrial Power has announced the expansion of its TX Series transfer switches, introducing 600A, 800A, and 1000A models. These switches are designed for safety and reliability in emergency situations, boasting high withstand and closing ratings. The new models feature a maintenance-free contactor mechanism, field selectable voltage, and a built-in battery backup to enhance reliability during power outages. UL 1008 certification ensures compliance with NEC codes, and all units are manufactured in the US, reflecting Generac's commitment to quality and advanced energy solutions.
Generac Power Systems (NYSE: GNRC) has launched its Power Outage Central tool, providing the public with free access to real-time utility power outage data across the United States. This interactive resource visualizes outage information, enabling users to compare utility providers and view local and regional data. The tool has gained popularity for assisting travelers, especially during the holiday season when winter storms pose additional risks for power outages.
Generac Power Systems (NYSE: GNRC) warns of increased power outage risks this winter due to harsh conditions and aging electrical grids, as NOAA's forecast predicts below-average temperatures and above-average precipitation in many regions. The president of Consumer Power, Kyle Raabe, emphasizes the need for homeowners to prepare, advocating for backup power solutions like portable and automatic generators. Generac encourages safety precautions, including keeping devices charged and having emergency supplies ready. Their Power Outage Central tool is highlighted for monitoring outages and tips.
Mean Green, a subsidiary of Generac Power Systems (NYSE: GNRC), has opened a new 100,000-square-foot facility in Hamilton, Ohio, to meet rising demand for electric mowers. The facility will manufacture a range of electric-powered mowers, including the NEMESIS zero-turn mower, capable of cutting up to five acres per charge. This expansion has created over 30 jobs, with plans for more hires by year-end. Generac's president highlighted the growth trend towards electric lawn care solutions, emphasizing the need for cleaner, efficient products in the market.
WATT Fuel Cell announces a significant investment from Generac Power Systems, enhancing its momentum toward the commercial launch of fuel cell technology for homeowners. Generac's executive will join WATT's board, underscoring a strategic partnership. Key advancements include ETL certification of WATT's 1500W Imperium Solid Oxide Fuel Cell System for compliance with North American safety standards and partnerships aimed at addressing clean energy needs. This investment is expected to bolster WATT's position in the residential energy market amidst rising energy costs and power grid challenges.
Generac Power Systems (NYSE: GNRC) has announced a minority equity investment in WATT Fuel Cell Corp, a developer of low-emission Solid Oxide Fuel Cell systems. The investment aims to enhance Generac's energy solutions with WATT's advanced fuel cell technology, integrating it into Generac's Home Energy Ecosystem.
This collaboration seeks to improve home energy resilience and independence, utilizing fuel cells alongside solar energy and storage solutions. The investment was finalized on November 23, 2022.
Generac Power Systems (NYSE: GNRC) announced a limited-time offer for ConEd customers in Westchester County, New York. Enrolling in the ecosave program provides a free ecobee3 lite thermostat (valued at $149.99) or $100 off the new Smart Thermostat Premium. This initiative aims to reduce rising energy costs, with estimates showing bills in the area may increase by 27% this winter. Ecobee's smart thermostats could help save customers up to 26% on annual heating and cooling costs.
Generac Power Systems (NYSE: GNRC) announces the passing of its founder, Robert D. Kern, at age 96 on November 8, 2022. Kern founded Generac in 1959, transforming it into a leader in energy technology and portable generators. After selling the company in 2006, he focused on philanthropy, while Generac became public in 2010. CEO Aaron Jagdfeld honored Kern’s visionary contributions, highlighting his impact on the company and community. Kern leaves behind a legacy of innovation, leadership, and charitable work through the Kern Family Foundation.