Mercury solar systems

Mercury Solar Systems established itself as a notable solar photovoltaic (PV) developer and integrator on the U.S. East Coast. The company was founded by Jared Haines and Anthony Coschigano. It focused on providing in-house, turn-key solar electric energy systems, distinguishing itself by managing the entire process from design to installation. This approach targeted a diverse client base that included commercial, industrial, institutional, non-profit, and public sector organizations.

The company's business model centered on the development and installation of highly productive and durable solar systems. Before its acquisition, Mercury had successfully installed over 2,000 systems, which collectively generated more than 50 megawatts of energy. This track record demonstrated its capability in handling projects of varying complexity and scale for a wide range of customers.

In August 2013, a significant milestone occurred when Real Goods Solar (RGS Energy) acquired Mercury Solar Systems in a transaction valued at approximately $18.1 million in stock, with adjustments for working capital. The acquisition was a strategic move for RGS to expand its presence in key East Coast solar markets, particularly New York and New Jersey, where Mercury had extensive experience. Following the acquisition, Mercury's co-founders, Jared Haines and Anthony Coschigano, took on leadership roles at RGS Energy to head commercial sales and operations in the Northeast, respectively, ensuring a seamless integration of their regional expertise.

The story of Mercury Solar Systems is intertwined with the larger narrative of the U.S. solar industry's consolidation and the subsequent financial turbulence of some of its major players. The parent company, RGS Energy, which had been in the solar business since 1978, later faced its own financial challenges, and the broader market saw dramatic shifts, including the high-profile bankruptcy of SunEdison in 2016. This event impacted many firms, as SunEdison's aggressive acquisition strategy had made it the world's largest renewable energy development company before its collapse. Keywords: Mercury Solar Systems, solar PV developer, solar integrator, East Coast solar, commercial solar, industrial solar, public sector solar, Real Goods Solar acquisition, RGS Energy, Jared Haines, Anthony Coschigano, solar electric energy systems, turn-key solar projects, New York solar, New Jersey solar, solar project development, non-profit solar, institutional solar