iSun, Inc. (ISUNQ)

History and Background

iSun, Inc., formerly known as Peck Company Holdings, Inc., has evolved from a traditional electrical contractor to a solar engineering, procurement, and construction (EPC) provider. Founded as Peck Electric in 1972, it rebranded to iSun in 2021 to reflect its expanded focus on renewable energy solutions.

Core Business Areas

• EPC Services: iSun provides engineering, procurement, and construction services for commercial and industrial solar projects.
• Residential Solar: iSun offers solar energy solutions for residential customers, including system design, installation, and maintenance.
• Electric Vehicle (EV) Charging: iSun provides EV charging infrastructure solutions, including installation and maintenance of charging stations.

Leadership and Structure

Jeffrey Peck is the CEO. The company has a board of directors overseeing strategic direction and operations.

Key Offerings

• Commercial Solar EPC: iSun's core offering is providing turnkey solar EPC services for commercial and industrial clients. Market share data is difficult to ascertain precisely but iSun occupies a niche space. Competitors include larger EPC firms like Borrego Solar and smaller regional players. Revenue generation varies yearly.
• Residential Solar Installation: iSun installs solar panels on residential properties. Market share varies regionally, but iSun is a smaller player compared to national installers like SunPower and Tesla. Revenue generation varies yearly.
• EV Charger Installation: iSun provides the installation of EV chargers for businesses and homeowners. Competitors include Tesla, ChargePoint and smaller local firms. Market share data is very granular at a local level and difficult to get.

Industry Overview

The solar energy industry is experiencing rapid growth, driven by increasing demand for renewable energy and government incentives. The EV charging market is also expanding significantly due to the rising adoption of electric vehicles.

Positioning

iSun is a smaller player in a highly competitive market. It differentiates itself through its focus on integrated solutions and regional expertise.

Total Addressable Market (TAM)

The combined TAM for solar and EV charging is in the hundreds of billions of dollars. iSun, with its current market cap, has a very small fraction of that TAM, indicating significant potential for growth if it can capture more market share.

Key Competitors

• SPWR
• RUN
• TSLA

Competitive Landscape

iSun faces intense competition from larger, more established players. Its smaller size and limited resources make it challenging to compete on price. iSun's competitive advantage lies in its localized expertise, rapid deployment and customer service.

Historical Growth: Historical growth has been moderate, with some years showing stronger revenue increases than others.

Future Projections: Analyst estimates vary, but projections generally anticipate continued growth in revenue, although profitability remains a key area of concern. Specific projections need to be sourced from financial analysts.

Recent Initiatives: Recent initiatives include acquisitions to expand service offerings and geographic reach.

iSun, Inc. is a smaller company operating in the high-growth renewable energy sector, which includes solar and EV charging solutions. Revenue has increased over the past few years, but profitability remains a significant challenge. It needs to work to reduce costs and establish greater market share. Competition is intense, with a landscape made up of much larger competitors.

• SPWR
• RUN
• SEDG
• ENPH
• FSLR
• NEE

Data Sources:

• Company Filings
• Third-party Financial Data Providers
• Industry Reports

Disclaimers:

The information provided is for informational purposes only and should not be considered financial advice. Investment decisions should be based on your own research and due diligence. Market share data is approximate and may vary depending on the source.