Mercury Solar Systems buys Long Island solar company
Mercury Solar Systems, a New Rochelle-based company that installs solar electrical systems, has expanded its presence in the region with the acquisition of K-Star Solar, a major residential solar installer on Long Island.
Mercury’s expansion comes at a time when solar energy companies are expected to benefit from the incentives for renewable energy development in the $787 billion economic stimulus legislation passed by Congress and signed by President Barack Obama earlier this year.
Mercury, already a major player in the Northeast, has installed hundreds of solar systems in New York, New Jersey and Connecticut.
K-Star Solar will be renamed Mercury Solar Systems after the acquisition is completed. Kevin P. Harvey, K-Star’s president, will join Mercury’s Long Island team as its divisional president and focus on Mercury’s Long Island installations.
“With K-Star we have an instant footprint in this market and we believe together we can offer commercial and residential customers cutting edge, highly efficient solar solutions at affordable prices,” said Jared Haines, president of Mercury Solar Systems. “The federal and state incentives for solar systems have also never been better, but customers need a company with local knowledge to help them leverage the benefits of solar.”
Nationally, the solar energy industry has steadily grown during the past 10 years. The number of companies shipping solar thermal collectors climbed from 28 to 60 from 1998 to 2007, according to the Energy Information Administration. The number of units shipped rose from 7,756 to 15,153 over the same time period.