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Company Interview Excerpt
Akeena Solar, Inc. - Barry Cinnamon


Full article published: 07/26/2010


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TWST: Introduce us to Akeena Solar. Give us a history of the company and an overview of your operations.
Mr. Cinnamon: First, let me say it is nice when you have a job where every day you are looking forward to helping solve problems and you are doing something that you really enjoy. That sentiment is shared by everybody here. Solar is a great business to be in. As far as how we got started, I literally started the business on my garage. It wasn't an inside-the-garage startup; it's the first Silicon Valley business that actually started on the roof of a garage. We started in 2001 as installers of residential solar power systems and that steadily grew. In the course of our installation work, we realized that although there were advances being made in the solar cells themselves, nobody was really concentrating on making it easier to install the system. We developed some technology called Andalay that has all of the racking and the wiring and the electronics built into the solar panel itself, and that makes it really easy and fast to install. That was a milestone that we achieved in 2004; we introduced these integrated panels in 2007. Then last year, we restructured our business to focus on direct installations, mostly for residential in California, and launched our distribution business. We closed down operations and offices that we had around the rest of the country because with our AC solar panel, we were able to sell those panels to dealers in other states and generate revenues there without the fixed-cost burden. We recently announced a partnership with the Westinghouse Electric Company, where we have effectively set up a company called Westinghouse Solar. That is significant because it helps validate the concept of solar in the minds of consumers, and now you've got a company and a brand in Westinghouse that stands for the trust and reliability that homeowners are looking for.

 

Tickers included in this excerpt: WEST

 

For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.