Renewable energy is experiencing significant momentum in the U.S. with a forecast of substantial growth in the solar industry (shift from ~3.3% production today to ~20% in 2050)
Solegreen entered the local market through an investment in Kuubix, which will serve as its local arm with its significant, immediate presence and multi-state distribution toward rapidly promoting multiple and concurrent projects.
Kuubix operates along the value chain through various departments (sales, development, engineering, permit promotion, establishment extensive (service) call center, operations and more).
Synergies – Solegreen intends to utilize two operative arms:
Operational arm (Kuubix) – Initiating, developing and establishing commercial projects while accelerating operations in domestic systems.
Assets Arm (Solegreen USA, fully owned by Solegreen) – The company operates and will own all of the yielding assets (from operation/construction readiness) throughout the operation period.
Initially focusing on high profit segments (domestic and commercial) with enhanced growth potential.
Significant storage system integration potential
Second largest market in the U.S, 19 giga ~24% of the U.S. market in 2020
A market that is expected8 to grow 10% Y/Y over the next 5 years to become a $6B market.
Soft costs comprise the majority in domestic systems (~63%), which may enable saving and increasing profitability over time.
Currently active in California, the largest market in the U.S. (~30% of the market) and other states. Kuubix reports substantial operations in 2020 with $35.5M revenues and ~$9M gross profit
Significant growth plan for the upcoming years with a revenue target of ~$80-100M in 2021 and gross profit of ~$15-25M. Growth plan for additional states
Led by Solegreen, Kuubix will be able to expand its capabilities, both in direct sales (replacing dealers) and the provision of financial solutions (replacing the lenders), thus retaining and even increasing operation profitability