Akeena Solar expands into California's wine country

California-based installer Akeena Solar (OTCBB: AKNS) has acquired assets of Alternative Energy Inc. (AEI) of Santa Rosa, California—in the heart of California wine country.

Santa Rosa is the company's fifth new location in California in the past year. Since September, Akeena has expanded to Fresno, Orange County, Bakersfield, and Manteca.

In addition, the company's Fairfield, New Jersey office serves the New York metropolitan area, covering eastern Pennsylvania, New York, New Jersey and Connecticut.

Under the terms of the latest agreement, Akeena will assume AEI's backlog, and commence marketing to foster more solar power business in Sonoma and Napa Counties.

"This acquisition is another step towards our goal of offering solar power to homes and businesses in target markets with high electricity costs," said Barry Cinnamon, Akeena CEO.

"Santa Rosa is a compelling market because of the combination of new housing and environmentally conscious residents. This Santa Rosa acquisition provides us with a base of operations in the North Bay and surrounding areas, close to the winery work we do in Napa Valley."

According to a recent report by industry analysts Solarbuzz, California and New Jersey represent 90 percent of the market for solar power in the U.S.

The industry is expected to grow at an annual rate of 30 percent over the next four years, driven by a combination of favorable public policy, high electric rates and environmental concerns.

Akeena was founded in 2001. It has grown to become one of the largest national integrators of residential and small commercial solar power systems in the United States.

Read the Cleantech Group's interview with Akeena Solar president Barry Cinnamon here.

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