Pineapple Energy Subsidiary SUNation Is Named Top New York-Based Solar and Storage Installer
Rhea-AI Summary
SUNation, a subsidiary of Pineapple Energy Inc. (Nasdaq: PEGY), has been named the top solar and storage installer in New York by Solar Power World. In 2023, SUNation installed five times more battery storage capacity than its local competitors. Scott Maskin, Interim CEO of Pineapple Energy, praised the team's efforts in helping New York State reduce its carbon footprint.
John Mucci, SUNation's General Manager of NY Operations, emphasized the importance of battery storage in residential installations, especially with the gradual introduction of time-of-use rates. Kelly Pickerel, editor-in-chief of Solar Power World, highlighted the increasing complexity of solar projects and commended top installation companies for their strong performance.
SUNation's battery installations in 2024 are trending upward from the previous year's high, indicating the growing significance of batteries in the renewable energy landscape.
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News Market Reaction
On the day this news was published, PEGY declined 8.44%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
RONKONKOMA, N.Y., July 23, 2024 (GLOBE NEWSWIRE) -- SUNation, the New York-based subsidiary of Pineapple Energy Inc. (Nasdaq: PEGY) (“Pineapple” or the “Company”), has been designated the number one solar + storage New York-based installer by Solar Power World, a leading industry publication.
In 2023, SUNation had installed five (5) times the amount of battery storage capacity compared to its local industry peers. Each year, Solar Power World recognizes industry leaders with their Top Solar Contractors List.
“Once again, SUNation is doing its part to help New York State achieve its ambitious goals to reduce our energy-related carbon footprint. I couldn’t be prouder of my hardworking team who show up each day to make our future greener,” Scott Maskin, Interim CEO of Pineapple Energy, said.
“Ensuring that battery storage is a part of our residential installations is a top priority,” John Mucci, SUNation’s General Manager of New York Operations, added. “With time-of-use rates slowly being rolled out, we want to have our trusted clients ready for whatever comes their way.”
“Solar projects in every market — residential to utility-scale — are getting bigger and oftentimes more complicated in scope, financing and permitting. That’s why it’s all the more impressive when so many top installation companies have banner years,” said Kelly Pickerel, editor in chief of Solar Power World. “The Top Solar Contractors List is a great gauge for how strong individual companies are in their local markets.”
So far in 2024, SUNation’s battery installations have been trending upward from the previous year’s high, Mucci noted. “Batteries have become an increasingly important piece of the renewable landscape,” he said.
About Pineapple Energy
Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation Energy, Hawaii Energy Connection, E-Gear) provide those within the Residential and Commercial sectors an end-to-end product offering spanning solar, battery storage, and grid services.
About SUNation
SUNation Energy, a Pineapple Energy company, is the solar and energy expert trusted by over 9,000 homeowners, businesses and municipalities since 2003 for professionally installing the highest quality equipment with an exceptional customer experience. With offices in Ronkonkoma, NY and Tampa, FL, SUNation Energy offers the complete in-house sustainable energy experience including residential and commercial solar installation, community solar, roofing, backup battery storage, EV charging, and more. Their not-for-profit corporation, SUNation Cares, also provides the gift of free electricity for life to Veterans and their families. SUNation was recently recognized as NYSERDA Quality Solar Installer Platinum Status in 2024, one of five solar companies in New York to achieve platinum status and the only on Long Island.
Contacts:
Scott Maskin
Interim Chief Executive Officer
+1 (631) 823-7131
SMaskin@sunation.com
Pineapple Investor Relations
IR@pineappleenergy.com
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