Sponsored Post – from Revolve Solar
In its annual “Fast 50” publication, Austin Business Journal identifies the fastest-growing companies in Central Texas. On the evening of October 22nd, the final rankings for the prestigious shortlist were announced, and Revolve was named the second fastest-growing company with a compound annual growth rate of 201%.
Award in hand, CEO and founder Tim Padden said, “While our year-over-year revenue growth speaks to the tremendous success Revolve has seen since opening its doors three and a half years ago, it’s not the whole story. Our philosophy is to put a great deal of time and effort into hiring smart, capable and ambitious people at all levels of our organization, and to work with them to agree on what a clear roadmap to success looks like. We would not be seeing the growth we have had without a dedicated team and enthusiastic solar customers.”
To qualify for the Austin Business Journal Fast 50 list, companies had to experience dramatic revenue growth during the last three years and have this financial data verified by a third party. Revolve ranked second in the higher ($10m+ revenue) category with earnings of $16 million in 2014, up significantly from $1.7 million in 2012.
Indeed, the ABJ ranking comes less than a month after Revolve won the inaugural “Best Solar Company” award in Redding, CA, and barely two months after ranking 36th nationally on Solar Power World’s 2015 Top 500 Solar Contractors list.
Rick Davis, EVP of Business Development added, “We’re excited to see the success of our residential solar efforts translate to the small and medium-sized commercial sector. As a result, we’re anticipating rapid growth in this part of the business going forward.”
Austin is one of the best cities in America for residential solar due in part to abundant sunshine and favorable policies within its municipal utility Austin Energy. Currently, the Value of Solar Tariff, which rewards solar homeowners for energy production, and the Austin Energy Solar Rebate combine to offer homeowners a generous financial incentive to make the switch to renewable energy. Unfortunately, the latter is gradually being phased out and is expected to run out over the next few years.
Similarly, the 30% solar tax credit is set to expire in December of 2016. With these expiring rebates, demand for clean energy systems like residential solar panels is expected to increase rapidly over the coming months due to customers looking to maximize their savings. Additionally the City of Austin is working extensively on its goal to supply 55% of energy via renewable energy sources by 2025.
About Revolve Solar
Revolve Solar is a residential and commercial solar design and installation company headquartered in Austin, Texas. Founded by entrepreneur Tim Padden, Revolve commenced operations in early 2012 and quickly replicated its formula to compete in the Redding, Chico and Vacaville, CA markets. Continued expansion in California and elsewhere and further growth in the commercial sector are anticipated for 2015. For more information please visit www.RevolveSolar.com
