Sachs Electric, St. Louis’ largest electrical contractor, is looking to shore up $100 million in revenue through the launch of a new subsidiary, Sachs Alternative Energy Inc., that caters to the renewable energy market, specifically the $3 billion solar market.
The new company, which launched in June, will debut at the Solar Power International trade show in October in Los Angeles.
“Given how quickly this industry is growing, we felt it was imperative that a new company was formed that could solely focus on this new market,” said Steve Gorman, president of Sachs Alternative Energy.
“It couldn’t be a be better time to go solar,” said Monique Hanis, spokeswoman for Solar Energy Industries Association (SEIA), a nonprofit trade group in Washington, D.C. “It’s been growing consistently over the last five years, and industry revenue last year grew 36 percent despite the recession.”
Read more: Sachs Electric goes with solar to energize revenue - St. Louis Business Journal
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