Sungevity
| Company type | Private |
|---|---|
| Industry | Solar energy |
| Founded | 2007 |
| Founder | Danny Kennedy, Andrew Birch, Alec Guettel |
| Headquarters | Oakland, California , United States |
Area served | United States, Europe |
Key people | Andrew Birch (CEO) |
| Products | Residential solar power systems, financing, installation, upkeep, system monitoring |
Number of employees | 250+ (2012) |
Sungevity is a solar energy enterprise headquartered in Oakland, California, founded in 2007. The company focuses on designing residential solar power systems, providing financing options, and overseeing installation, upkeep, and system monitoring. Sungevity operates throughout the United States and Europe, with installations spanning various U.S. states such as California, Colorado, and New York.
By 2012, the company employed more than 250 individuals but experienced major workforce reductions in 2017 prior to its acquisition by Northern Pacific Group. In 2020, Pineapple Energy, based in Minnesota, purchased Sungevity’s assets and restarted operations under the Sungevity name in California.
Founding
Sungevity was created by entrepreneur Danny Kennedy alongside CEO Andrew Birch and Alec Guettel. Initial capital raises included $6 million in 2009 aimed at California expansion and a $15 million Series C funding round in 2010. That year also saw the introduction of the Solar Lease program in collaboration with US Bank, utilizing financing solutions to accelerate growth in the residential solar segment.
The company’s development was supported by strategic investors including Lowe's—which took an equity stake in 2011—General Electric, Jetstream Ventures, E.ON, and Apollo Investment Corporation. Significant funding milestones included a $70 million equity infusion in 2014 and a $600 million private equity fund raised in 2015 to back residential solar installations.
Sungevity expanded internationally by acquiring a stake in Dutch solar firm Zonline in 2011 and fully acquiring it by 2014, establishing Sungevity Netherlands. In Australia, the company partnered with Nickel Energy to form Sungevity Australia in 2012, launching pay-as-you-go solar products under the RoofJuice brand.
These capital investments and strategic alliances highlight Sungevity’s approach of combining innovative technology with flexible financing models to strengthen its position within the residential solar market.
Layoffs and initial acquisition
In early 2017, Sungevity implemented extensive layoffs, eliminating senior and mid-level management positions in January followed by approximately two-thirds of its workforce in March without advance notice amid bankruptcy rumors. Affected former employees initiated legal action seeking unpaid wages under the Worker Adjustment and Retraining Notification Act. Additional workforce reductions occurred in April before private equity firm Northern Pacific Group acquired the remaining assets for $50 million, creating Solar Spectrum. This new entity assumed control over Sungevity’s infrastructure, technology platforms, installer network, supplier warranties, and certain contracts. Northern Pacific also took ownership of Sungevity’s European operations, which were subsequently sold to French utility Engie; Engie currently operates these as Sungevity International.
In March 2020, due to the COVID-19 crisis, Sungevity laid off 400 employees.
By November 2020, subsidiaries Horizon Solar Power and Solar Spectrum were merged prior to Sungevity resuming operations under Pineapple Energy.
Pineapple Energy Acquisition
Following its acquisition of Sungevity’s assets in 2020, Pineapple Energy relaunched the brand in 2021. Pineapple Energy is a U.S.-based consolidator specializing in residential solar power systems, battery storage solutions, and grid services. The company remains privately owned but plans a merger with Communications Systems Inc., a publicly traded Internet of Things (IoT) enterprise. This strategic combination is intended to broaden Pineapple’s market reach and enhance its product portfolio within the home solar sector.
Awards and recognition
- Recipient of the 2009 Green Business Award
- Honored with the Green Jobs Award in 2011
- Named Innovator of the Year by Planet Forward in 2011