Generac Enters Microinverter Market with Acquisition of Chilicon Power
Generac Holdings Inc. has acquired Chilicon Power LLC, a designer and provider of grid-interactive microinverter and monitoring solutions for the solar market. The deal further positions Generac as a leader in the residential energy technology market and increases the company’s total addressable market opportunity.
Pacific Palisades, Calif.-based Chilicon’s unique approach to power inversion and monitoring technology maximizes PV production, lowers installation costs, and allows for easy integration of a battery or a generator, providing tremendous flexibility for installers and end-users.
“The extensive experience and technological expertise of the Chilicon team will further fuel the continued growth and development of Generac’s expanding Energy Technology solutions,” said Aaron Jagdfeld, president and CEO of Generac. “Generac has a proven track record of developing leading energy solutions, and together with Chilicon, we believe we can replicate this success within the microinverter market.”
“Adding Chilicon’s robust microinverter solutions alongside Generac’s current PWRcell solar and storage product offerings will create one of the broadest product offerings in the residential clean energy market,” said Russ Minick, president of Energy Technology and chief marketing officer at Generac. “Putting Chilicon’s microinverters in the hands of our global network of Generac dealers and distributors will strengthen our competitive position in this rapidly expanding market.”
“We are thrilled to be joining Generac, which has a like-minded strategy in developing innovative and technologically advanced products for the solar plus storage market,” said Alex Kral, co-founder of Chilicon Power.
“As part of the Generac team, we are able to accelerate our vision for a greener, energy-independent future and provide our microinverter solutions to a significantly larger customer base using Generac’s global distribution network and proven go-to-market strategies,” said Christopher Jones, co-founder of Chilicon Power.
The acquisition closed on July 2, 2021. Terms of the deal were not disclosed.
Generac is based in Waukesha, Wis.
