Solar Power to Sell Off Residential Business

Solar Power has reached an agreement to sell its residential business serving Sacramento to Paramount Energy Solutions.

The firm's residential business, Yes! Solar Solutions, serves the residential solar market in Sacramento, Placer, Yolo and El Dorado counties.

Solar Power chairman and CEO Steve Kircher said the move allows the company to focus on its core competencies and operational strengths to pursue a growing number of distributed generation and utility-scale solar developments.

"The residential solar business can be challenging in the current economic climate, especially with respect to financing residential solar systems through conventional means," Kircher said.