OnForce Solar acquires stake in roofing company
Jan 8th, 2013
NEW YORK, January 8, 2013 – OnForce Solar, Inc. (www.onforcesolar.com), New York City's largest solar energy design, installation and finance firm, today announced that it has acquired a stake in Lita Brothers General Construction, a commercial and residential roofing company located in Bergenfield, New Jersey. The purchase positions the company to meet the needs of its present and future customers in New York, which is one of the fastest growing solar energy markets in the United States.
"Since a rooftop solar project has a lifespan of 25 years, in order to take advantage of the full life of the system and any warranties, the roof must also last 25 years," explains Charles Feit, CEO and founder of OnForce Solar, who notes that repairs to solar integrated rooftops can be costly as panels must be relocated to service roofs. "The two businesses go hand-in-hand and this strategic investment provides our customers with the ease of a one-stop shop to satisfy their needs for both a new roof and a solar installation."
Lita Brothers also saw this partnership with OnForce Solar as an opportunity to expand their roofing business. In fact, the two companies have worked together on multiple solar projects recently, including: a 202 kilowatt installation on a 37,800-square-foot roof for Harco Industries, Inc.; a 472 kilowatt project for General Plumbing Supply; as well as a 400 kilowatt project on a 143,000-square-foot roof for Price Master Corp, which will be one of the largest solar installations in New York City to date.
As for the future, Feit sees continued growth. In fact, OnForce Solar is actively seeking rooftops to rent, where they will install, own and operate solar systems under the Power Purchase Agreement (PPA) structure, providing substantial savings to property owners. The firm is one of just a few companies in New York with the ability to implement large-scale solar projects through funding from the New York State Energy Research and Development Authority (NYSERDA).
Partnering with other businesses is one of the ways OnForce Solar implements best practices. The company has developed strong relationships with renowned photovoltaic designers and engineers, warranty certified roofers and financial institutions, as well as energy utilities, in order to assist clients with "going green" in a financially advantageous manner. OnForce Solar manages every aspect of the solar integrated roof installation, including site acquisition, engineering and long-term maintenance, so customers get all the benefits of solar power as quickly as possible. Since its founding in 2007, OnForce Solar has completed and advised on systems generating in excess of 30 megawatts of solar energy and with a pipeline of around 50 megawatts.
About OnForce Solar, Inc.
Headquartered in the South Bronx, OnForce Solar, Inc. has offices in Fort Lee, New Jersey, Stamford, Connecticut, Framingham, Massachusetts and satellite operations in Maryland. The company provides high quality, efficient solar energy systems to businesses and homeowners in New York, New Jersey, Connecticut, Massachusetts and Maryland, as well as project feasibility studies, development and financing services nationally. OnForce Solar's CEO Charles Feit received a "2012 Top Entrepreneurs" award from Crain's New York Business (http://www.crainsnewyork.com/gallery/20120527/FEATURES/525009999/5) and the company was featured in a Daily News profile in 2012 (http://www.nydailynews.com/life-style/real-estate/bronx-solar-energy-company-article-1.1192464). The firm was also named the fifth fastest growing small business in the New York City area, and 42nd in the country, in 2011 by Inc. magazine in its "Top 500" issue. To learn more about the company, visit www.onforcesolar.com or connect with them on LinkedIn or Facebook.