PEGY - Pineapple Subsidiary SUNation Surpasses Goal of $15 Million in Contracted Commercial Work | Benzinga
MINNETONKA, Minn., June 20, 2024 (GLOBE NEWSWIRE) -- SUNation Energy, the Long Island, New York-based subsidiary of Pineapple Energy (Pineapple), has reported over $15 million in executed sales contracts and confirmed Letters of Intent in their commercial and industrial project pipelines.
This milestone figure surpasses SUNation's projection for commercial and industrial work, which was established in late 2023.
"I'm incredibly proud of the Commercial team and their diligence in establishing SUNation as the "go-to" company for commercial and industrial projects across New York State," Scott Maskin, Pineapple's Interim CEO, said.
"SUNation's expertise has attracted many national developers who chose us for our safety record and attention to detail," John Mucci, SUNation's General Manager of New York Operations, added. "Our team studies every conceivable detail and potential project vulnerability prior to contract by leveraging our unmatched expertise in navigating the complex utility interconnection process."
Since federal passage of the Inflation Reduction Act in August of 2022, which expanded federal and state incentives for renewable projects, demand for commercial and industrial solar installations across the United States has amplified. SUNation has benefitted from this recent momentum, having a variety of new projects within their pipeline that serve municipal, non-profit, and for-profit sectors.
"Our pipeline now exceeds $65 ...