Perch Energy acquires Solstice

Perch Energy has acquired Solstice from Mitsui, reinforcing its position as a preeminent player in the U.S. community solar sector. The terms of the deal remain undisclosed, but the acquisition enhances Perch's capabilities in customer acquisition and management for community solar projects. Perch now consolidates its status as the largest pure-play platform in this market, handling over 3GW of solar capacity across 1,000 projects in 16 states and serving more than 430,000 residential customer equivalents.

Prior to this acquisition, Solstice brought a contracted portfolio of 500 megawatts of solar capacity. This expansion allows Perch to capitalize on Solstice’s technology, sales, and operational expertise. The addition of these assets and talent significantly boosts Perch's competitive advantage and broadens its market reach. The company's expansion strategy leverages proprietary software and automation to sustain its rapid growth while maintaining high service standards for project developers and asset owners.

The acquisition aligns with Perch’s broader strategic goal of becoming a formidable, scalable partner in the community solar market. It follows a previous strategic move to form a standalone company in March 2025 with Arcadia, another prominent player in the industry. The combined Perch and Solstice entities will deliver significant utility bill savings to consumers at a time of rising retail electricity costs, which the U.S. Energy Information Administration (EIA) notes have been increasing faster than inflation since 2022.

Perch’s CEO, Bruce Stewart, highlighted the importance of adaptability amid the evolving energy landscape. He emphasized the company's commitment to technological investment and reliable service delivery, crucial for maintaining investor confidence and achieving economies of scale. The integration of Solstice's capabilities will drive Perch’s ambition to expand both in well-established and developing community solar markets.

The acquisition has set a precedent within the industry for greater consolidation, as market leaders seek strategic partnerships to expand service offerings and market reach. For Perch, the focus now shifts to effectively integrating Solstice's assets and team, ensuring a seamless expansion of their service portfolio and footprint. The transaction supports a broader industry trend toward collaboration and consolidation, as companies seek to enhance competitiveness in a rapidly transforming energy market.