What Shoals Technologies Group does

Shoals Technologies Group, Inc. (NASDAQ: SHLS) is a Portland, Tennessee-headquartered manufacturer of Electrical Balance of Systems (EBOS) solutions for utility-scale solar, battery energy storage, and AI data center power infrastructure. Founded in 1996 and publicly listed since 2021, the company designs and produces a portfolio of prefabricated, factory-tested products centered on its patented Big Lead Assembly (BLA) aluminum trunk bus system—with undermold/overmold sealing—and supporting components including DC combiners and recombiners, load break disconnects, transition boxes, cable management solutions, and BESS- and data-center-specific variants (mini BLA, LT BLA). The company protects this architecture with 67 global patents (issued and pending) and has cumulatively deployed its solutions in approximately 100 GW of solar systems worldwide.

The company's revenue model is hardware sales of project-engineered EBOS kits, priced via project-specific custom quotes tied to utility-scale solar and storage construction timelines; multi-year project contracts are typical. Shoals goes to market through direct enterprise sales to utility-scale solar developers, independent power producers, and engineering, procurement, and construction (EPC) contractors—reporting penetration of 93% of top EPCs as partners by year-end 2025—and operates with a project-based sales cycle aligned to utility-scale solar and storage development pipelines. Distribution is global, with named flagship deployments including the 250 MW Muskegon Solar Energy Center (Consumers Energy / Burns & McDonnell), the 128 MW Wapello Solar project (Clēnera / RES), the 100 MW East Line Solar project (sPower / Rosendin), and Gemini Solar + Storage (Las Vegas).

Shoals manufactures domestically in Tennessee and Alabama, with production capacity anchored by a newly opened 638,000-square-foot Mega Facility in Portland, Tennessee (May 2026) consolidating three prior Tennessee operations under an $80 million five-year investment commitment. The company is expanding beyond core utility-scale solar into battery energy storage and AI data center critical power—most notably via a February 2026 strategic collaboration with ON.energy to deploy multiple gigawatts of DC power infrastructure for AI data centers—and has pursued an active patent enforcement strategy at the U.S. International Trade Commission against competitors Voltage, LLC and Voltage Energy.

Name

Shoals Technologies Group

Legal name

Shoals Technologies Group, Inc.

Website

https://shoals.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shoals Technologies Group (NASDAQ: SHLS), founded 1996 and based in Portland, Tennessee, manufactures patented Electrical Balance of Systems (EBOS) solutions—led by its Big Lead Assembly trunk bus—for utility-scale solar developers, battery energy storage projects, EPC contractors, and AI data center operators globally.

Ownership category

akta.pro rank

Product category

Solar Electrical Balance of Systems (EBOS)

NAICS

Switchgear and Switchboard Apparatus Manufacturing (335313), Relay and Industrial Control Manufacturing (335314)

SIC

Switchgear & Switchboard Apparatus (3613), Electrical Industrial Apparatus (3620), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Industrial Control Cabinets & Power Distribution (Panels, Switchgear for Automation) (IMAHAHAK)

akta.pro secondary industries

Low-Voltage Switchboards & Panelboards (LV distribution panels, MCCs, switchboards) (IMAGAEAA), Stationary Energy Storage Systems (BESS/ESS Integrators) (IMAGAHAD), Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI)

Keywords

• Electrical balance of systems
• Solar EBOS solutions
• Trunk bus systems
• DC power distribution
• Battery storage infrastructure

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. EBOS Hardware Sales: Sale of electrical balance of systems components including Big Lead Assembly (BLA) trunk bus solutions, combiners, recombiners, load break disconnects, transition boxes, cable management solutions, and OEM components for solar and battery storage projects. Revenue is project-based and tied to utility-scale solar and storage construction activity.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Shoals Technologies Group designs and manufactures Electrical Balance of Systems (EBOS) hardware, anchored by its patented Big Lead Assembly (BLA) trunk bus system that integrates cable assemblies, combiner boxes, and fusing into a single prefabricated plug-and-play solution. The portfolio extends to combiners, recombiners, load break disconnects, transition boxes, cable management, and OEM components for utility-scale solar, battery energy storage, and AI data center projects.

Product overview

Shoals Technologies Group is a provider of Electrical Balance of Systems (EBOS) solutions for the energy transition market. The company's product portfolio centers on its patented Big Lead Assembly (BLA) family of trunk bus products (BLA, mini BLA, and LT BLA), which integrate cable assemblies, combiner boxes, and fusing into prefabricated plug-and-play systems. Supporting products include Homeruns/Interconnections, Combiners and Recombiners, Load Break Disconnects, Transition Boxes, Solar OEM Components, and Cable Management Solutions. The company has expanded into Battery Energy Storage Solutions (BESS) and Data Center Solutions as newer product categories targeting the energy storage and AI data center markets. All solutions are factory-made and rigorously tested in the USA (Tennessee and Alabama) with proprietary undermold/overmold sealing technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Big Lead Assembly (BLA) Shoals' flagship patented aluminum trunk bus system that replaces individual homerun wiring with a plug-and-play solution, integrating cable assemblies, combiner boxes, and fusing into a single system. Features proprietary undermold/overmold sealing technology for hermetic protection. Sold to utility-scale solar developers, EPCs, and project owners.
• mini BLA

Quantifiable outcome

• BLA installs up to 40% faster than IPCs in controlled time study
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• ON.energycoreTechnology or Integration · 24 February 2026Strategic collaboration to deploy multiple gigawatts of critical power systems for AI data centers. Partnership combines ON.energy's medium-voltage AI UPS platform with Shoals' DC Recombiner technology and manufacturing capacity. Both companies positioned the agreement as a response to surging energy demand from AI and cloud computing workloads requiring faster deployment and greater power reliability. Shoals leverages its ~638,000 square foot manufacturing campus in Portland, Tennessee to support this growing market.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Array Technologies: Array Technologies is a leading solar tracker manufacturer serving the same utility-scale solar developer and EPC customer base as Shoals. Both companies sell project-based hardware into utility-scale solar construction, and Array's Country Manager for ANZ previously held senior roles at Shoals (per Aaron Zadeh's bio), indicating direct personnel overlap in the space.
• Nextracker (Flex Ltd.): Nextracker is the largest solar tracker provider globally and competes for the same utility-scale solar EPC and developer budget as Shoals' EBOS solutions. Both companies sell into the same project-based procurement cycle for utility-scale solar farms, and Nextracker has been expanding into adjacent BOS components, overlapping with Shoals' addressable market.
• Voltage, LLC: Voltage is Shoals' most direct competitor in trunk bus / EBOS solutions for utility-scale solar. The two companies have been in active ITC patent litigation, with Shoals alleging Voltage infringes on its BLA patents. Voltage offers competing prefabricated trunk bus systems targeting the same utility-scale solar EPCs and developers.

Broad incumbents

• Schneider Electric: Schneider Electric is a global leader in energy management and automation, offering switchgear, solar inverters, and energy storage solutions. Their solar BOS offerings and Square D brand of electrical distribution products overlap directly with Shoals' combiner/recombiner and panel products for utility-scale solar.
• ABB Ltd. ABB is a major electrical equipment and automation conglomerate offering switchgear, solar inverters, and power distribution systems. Shoals' former Country Manager for ANZ held senior roles at ABB, highlighting the talent overlap and competitive overlap in utility-scale solar electrical infrastructure.
• Vertiv Holdings: Vertiv is a leading provider of critical digital infrastructure including power distribution, UPS systems, and thermal management for data centers. As Shoals expands into AI data center power via its ON.energy partnership, Vertiv is the primary established incumbent it must compete against in the data center power infrastructure space.
• Eaton Corporation: Eaton is a major diversified electrical equipment manufacturer offering switchgear, power distribution, and industrial control products. Eaton's electrical components overlap with Shoals' load break disconnects, panelboards, and power distribution products, particularly as Shoals expands into data center and storage applications.

Emerging players

• Generac Holdings: Generac is a leading manufacturer of power generation and energy storage solutions, with growing exposure to residential and commercial battery storage systems. While Generac focuses on behind-the-meter and backup power rather than Shoals' utility-scale EBOS, the company's expansion into grid-scale storage creates an adjacent competitive threat in the broader energy infrastructure space.
• Stäubli Electrical Connectors: Stäubli is a leading supplier of electrical connectors (including the MC4 standard) and cable assemblies for solar PV systems. While they focus on connectors rather than full EBOS trunk bus systems, their components are used in the same utility-scale solar projects and represent a potential competitor or partner as EBOS solutions integrate more functionality.

Regional players

• Enphase Energy: Enphase is a leading solar microinverter and battery company primarily serving residential and commercial solar markets. While Enphase operates in a different segment than Shoals' utility-scale focus, both companies sell electrical balance of system components for solar, and Enphase's expansion into commercial/industrial solar creates partial overlap with Shoals' C&I offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/ShoalsTech
• YouTubeyoutube.com/c/ShoalsTechnologiesGroup
• Facebookfacebook.com/ShoalsTechnologiesGroup
• LinkedInlinkedin.com/company/shoals-technologies-group
• Instagraminstagram.com/shoalstechnologiesgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shoals Technologies Group