Tuesday, August 28, 2012

Verengo Solar Makes a Big Move Up on 2012 Inc. 500/5000 List

TORRANCE, CA--(Marketwire - Aug 28, 2012) - Verengo Solar, one of the nation's leading residential solar installers, announced today it was again named to Inc. 500|5000 List, an exclusive ranking of the nation's fastest-growing private companies. The comprehensive list represents the most important segment of America's economy -- independent entrepreneurs.

Verengo Solar improved its overall national ranking on the 2012 list to #649, up from #2969 in 2011 -- by growing its revenues from 27 M to 62 M over the past year, and 559% over the past three years. The company also jumped up to #26 from #66 in the national Energy sector ranking over last year's list.

"Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is," says Inc. Editor Eric Schurenberg.

"Our business has grown dramatically for the past three years and we expect to do that again this year," said Verengo Solar CEO and Co-Founder Randy Bishop. "The fact is, residential solar is no longer solely an environmental choice. With solar costs continuing to come down and utility rates continue to rise, more and more middle-income Americans are understanding solar-generated electricity makes financial sense as well. Today's modern families are beginning to realize they can't afford not to go solar."

"It is an honor and validation for the Verengo Team to again be included on this prestigious list," said President and Co-Founder Ken Button. "Last year we hired almost 400 new employees, and we hope to hire another 400 in 2012 as our business expands throughout California and the East Coast."

In spite of a stagnant economic environment, the median growth rate of 2012 Inc.500|5000 companies remains an impressive 97%, as measured by annual revenue growth over the three year period from 2008-2011. The companies on this year's list report having created over 400,000 jobs in the past three years, and aggregate revenue among the honorees reached $299 billion.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000.

VERENGO SOLAR is changing the way America thinks about solar! As the #1 residential solar integrator based in Southern California, Verengo offers comprehensive financial options and superior customer service, and consistently earns an A+ with the Better Business Bureau. Verengo has reduced carbon emissions through its solar power systems, accomplishing the equivalent of planting 300,000 acres of trees, taking more than 120,000 cars off the road and saving homeowners $255 million in energy costs over the lifetime of Verengo's installed systems to date. For more information on Verengo Solar, please visit www.verengosolar.com.