- US solar panel installer for commercial, residential and agricultral industries Sunworks has appointed former SEIA head Rhone Resch as Independent Director
- Along with Resch, there are seven other board members on Sunworks’ board of directors
- Sunworks is a Roseville, California based solar installer that is listed on Nasdaq and expects revenues in the range of $110 to $115 million for 2016
Former Solar Energy Industries Association (SEIA) boss Rhone Resch has joined Sunworks, Inc. as an independent director. Resch left SEIA after serving the US solar industry lobby association for 12 long years in May 2016 (see Rhone Resch To Step Down).
Resch’s appointment at Sunworks was announced on October 27, 2016. He will join seven other board members of the US solar panel installer. Jim Nelson, CEO Sunworks said, “We are excited and honored to welcome Rhone to our board of directors and believe his industry expertise and corporate leadership experience will significantly enhance our efforts to strategically scale our business and expand our footprint with in the solar industry.”
Former SEIA President and CEO, Resch is credited with leading and winning the fight for the extension of investment tax credit (ITC). He has experience in both public and private sector, having worked as Program Manager for the Climate Protection Division of the Environmental Protection Agency (EPA) during the time Bill Clinton was in power.
Resch stated, “The future is clear, solar companies with a strong focus on quality, customer service and value are going to beat the large national solar companies. I am excited to work with the board to help management leverage their strategic advantages to continue to deliver growth that outpaces the industry.”
Sunworks is a Roseville, California based solar installer that is listed on Nasdaq. In August, it announced for Q2 record total revenue of $31.5 million, up 186% year-over-year ‘due primarily to acquisition of Elite Solar and organic growth.’ Net income increased to $744,000, compared to loss of $122,000 in the second quarter of 2015. Sunworks also upped its revenue guidance for the full year. ’Management now expects revenues in the range of $110 to $115 million, up from the previously issued guidance of $100 million and continues to expect consistent profitability.’
Many in the solar industry wondered why Resch left SEIA after he cleared the way for the next growth phase of the US solar market. However, there were rumors he was planning to move into politics and that’s why he left ahead of the upcoming US elections.
