Solar3D Seeks Buying Two More System Providers in 2015, CEO Says

Nov. 12 (Bloomberg) — Solar3D Inc., a U.S. solar provider
that just announced a second acquisition in a year, plans to buy
two more companies in 2015, its chief executive officer said.

“We’ve got an intense focus right now on buying
integrators so that we can expand our company,” James Nelson
said today in an interview at Bloomberg News headquarters in New
York. “We want to buy two other companies — that’ll put us up
close to $100 million in revenue. That’s ambitious, but it’s our
objective.”

Solar3D, which also is developing a proprietary solar-cell
technology it intends to license, last week said it’s buying MD
Energy LLC in a deal expected to close by February. In January,
Solar3D acquired Solar United Networks Inc., another California-based developer better known as SUNworks.

Most of Solar3D’s customers are in California and prefer
buying systems to leasing, Nelson said. The Santa Barbara,
California-based company said today that it’s expanding into
Nevada.

Solar demand in the U.S. next year may be more than 7.5
gigawatts, according to data compiled by Bloomberg New Energy
Finance.

As system costs fall, customer interest in solar will grow
similar to how the market for personal computers exploded,
Nelson said.

“Utilities will continue to fight it, but they’ll be
overwhelmed by a tidal wave of consumer demand,” he said.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar, Will Wade

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