Verogy
Verogy is a privately held renewable energy firm that develops, finances, constructs, and operates commercial and utility-scale solar projects. The company serves commercial businesses, municipalities, real estate owners, and utilities through turnkey EPC, PPAs, leases, and direct ownership across nine U.S. states.
- Company typePrivate
- Founded2011
- HeadquartersHartford, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Verogy does
Verogy is a privately held commercial and utility-scale solar project developer founded in 2011 and headquartered in West Hartford, Connecticut, with a secondary office in Bentonville, Arkansas. The company operates across the full project lifecycle — project development, turnkey EPC, project finance, operations and maintenance, and solar incentives/tax support — and serves commercial and industrial businesses, municipalities and universities, real estate owners, and utility-scale customers. Its core technology revolves around solar PV systems using PERC and IBC solar cell architectures with monocrystalline, polycrystalline, and thin-film panel options, supplemented by proprietary O&M standards, 24/7 remote monitoring with custom algorithms that prioritize site visits, and in-house value engineering for production modeling and cost optimization.
Verogy generates revenue through multiple streams tied to its engagement models: construction fees and equipment procurement margin from EPC contracts, recurring electricity sales revenue from 20-25 year power purchase agreements (PPAs) where it owns the asset, fixed monthly lease payments under solar leases, one-time project fees from turnkey/direct ownership sales, and ongoing managed-services revenue from owned project operations including electricity generation, REC sales, and O&M. The company retains ownership in projects throughout their lifecycle, which creates incentive alignment with clients and financial partners and produces long-duration recurring revenue streams alongside lumpy construction revenue.
The company's competitive position rests on a small but experienced team (75+ combined years of solar industry experience), strategic capital partnerships with CarVal Investors (minority stake, May 2022, supporting 500 MW of project development) and NJR Clean Energy Ventures (October 2024 partnership for 18 projects totaling 52+ MW across CT, ME, PA, and RI), and an enterprise client roster including FedEx, Kohl's, J.B. Hunt, and Cinemark alongside municipal customers such as the Town of East Hartford and Town of West Hartford. Distribution is exclusively through direct enterprise field sales focused on New England and selective national accounts, with no third-party reseller or channel partner model.
Verogy firmographics
Firmographics- Name
- Verogy
- Legal name
- Verogy
- Website
- https://verogy.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Verogy is a privately held renewable energy firm that develops, finances, constructs, and operates commercial and utility-scale solar projects. The company serves commercial businesses, municipalities, real estate owners, and utilities through turnkey EPC, PPAs, leases, and direct ownership across nine U.S. states.
- Ownership category
- akta.pro rank
Verogy industry classification
Industry- Product category
- Commercial Solar Energy Services
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation (22111)
- akta.pro primary industry
- Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)
- akta.pro secondary industries
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Community Solar Development & Subscription Management (EUAMAJAA), Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ)
Keywords
Where Verogy is headquartered
LocationHeadquarters
- HQ city
- Hartford
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Verogy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Solar EPC (Engineering, Procurement, Construction): Verogy designs, procures materials, and constructs solar projects for clients. The company acts as general contractor on all projects, managing vendors and providers for seamless construction. Revenue earned through project construction fees and margin on equipment procurement.
- Power Purchase Agreements (PPAs): Verogy builds, owns, and operates solar projects on client property, selling electricity to clients at rates lower than utility. Verogy retains equipment ownership, tax credits, and bears all project risk. This creates recurring revenue stream from electricity sales over 20-25 year terms.
- Solar Lease: Verogy builds and operates solar arrays on client property, receiving regular fixed lease payments from property owners. Clients pay flat monthly amounts without ownership of the system.
- Turnkey Sale / Direct Ownership: Clients purchase solar systems outright with cash or financing. Verogy develops and constructs the project for client ownership, earning full project fee. Clients gain access to tax credits, depreciation benefits, and renewable energy credits.
- Project Ownership and Operations: Verogy retains ownership in solar projects throughout their lifecycle, generating ongoing revenue from electricity generation, REC sales, and O&M services. Creates incentive alignment with clients and financiers.
- Project Acquisition: Verogy purchases in-construction and operational solar projects from third-party developers, executing transactions quickly with available capital.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Cash Purchase / Loan - Direct Ownership |
| Subscription | Monthly | Solar Lease - Fixed Monthly Payments |
| Usage-based | Pay-as-you-go | Power Purchase Agreement (PPA) |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Verogy product offering
Product offeringCore offering
Verogy develops, finances, constructs, and operates commercial and utility-scale solar projects for businesses, municipalities, universities, real estate owners, and utilities. The company delivers end-to-end solar solutions including project development, turnkey EPC, project finance (PPAs, leases, cash purchase, loans), and ongoing operations and maintenance. Multiple engagement models including third-party ownership options enable clients to adopt solar without upfront capital outlay.
Product overview
Verogy is a commercial and utility-scale solar development company offering a comprehensive suite of services through its core product modules: Project Development, Turnkey EPC Services, Project Finance, Operations and Maintenance, and Solar Incentives/Tax Support. The company also provides industry-specific solutions for Commercial & Industrial, Municipal & Universities, Real Estate Owners, and Utility Scale segments. Verogy operates primarily in New England states (Connecticut, Maine, Massachusetts, Rhode Island) and New Jersey, with projects spanning from small commercial rooftop installations to large utility-scale solar farms. The company has developed a portfolio of operational projects including solar installations at landfills, commercial rooftops, and community solar facilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Project Development Full-service solar project development from conception through construction, including site assessment, feasibility analysis, permitting, financing options, and project planning for commercial and utility-scale solar installations.
- Turnkey EPC Services Engineering, procurement, and construction services for solar installations, including in-house design, production modeling, value engineering, equipment procurement, construction management, and commissioning as general contractor.
- Project Finance Solar project financing services including Power Purchase Agreements (PPAs), solar leases, cash purchases, and loan financing structures that help clients access capital and select the optimal ownership model for their situation.
- Operations and Maintenance Ongoing operations and maintenance services for solar assets including 24/7 remote monitoring and analytics, commissioning, field service, performance reporting, and routine maintenance visits to maximize long-term system performance.
- Solar Incentives and Tax Support Advisory and application services for federal and state solar tax credits, rebates, and incentive programs including the federal Investment Tax Credit, accelerated depreciation, Connecticut NRES Program, Massachusetts SMART Program, Rhode Island Renewable Energy Growth Program, and C-PACE financing.
- Commercial & Industrial Solar Solar solutions tailored for commercial and industrial businesses including rooftop, ground-mounted, and parking lot canopy installations, with options for direct ownership or third-party ownership via PPA or lease.
- Municipal & Universities Solar Solar solutions for municipalities, schools, and universities including power purchase agreements and lease options designed for tax-exempt public entities that cannot directly monetize federal tax credits.
- Real Estate Owners Solar Land and rooftop lease monetization solutions for real estate owners, with Verogy hosting solar projects under typical 20-35 year lease agreements and handling all development, construction, and maintenance responsibilities.
- Utility Scale Solar Large-scale solar project development, construction, and management for utility companies and project developers, including land acquisition, development, construction, monitoring, and energy sales under long-term PPAs (typically 5-20 MW and larger).
Quantifiable outcome
- Landfill solar projects in Connecticut generate approximately 8.0 GWh of electricity annually
- +3 more outcomes
Companies that use Verogy
Customer profileNamed customers11 records
Segments4 records
Ideal customer profiles4 records
Verogy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Verogy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- NJR Clean Energy VenturescoreStrategic partnership to develop a portfolio of 18 solar projects totaling over 52 MW across Connecticut, Maine, Pennsylvania, and Rhode Island. First project is Glastonbury Solar One (3 MW) in Glastonbury, CT. Projects will collectively power more than 7,400 homes and serve low- and moderate-income households under state programs.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Verogy competitors and assessment
Company assessmentDirect peers
- Nexamp: One of the largest community solar and C&I solar developers in the Northeast US, with overlapping state footprints (MA, CT, ME, RI) and similar focus on third-party-owned solar via PPAs and community solar subscriptions.
- Borrego Solar Systems: National commercial and utility-scale solar EPC and developer offering C&I rooftop, ground-mount, and storage solutions; competes with Verogy for enterprise customers and developer/PPA opportunities in overlapping markets.
- Pivot Energy: Commercial and community solar developer focused on C&I customers and community solar projects across multiple US states, with a similar PPA/lease financing model and emphasis on underserved segments.
- Origis Energy: Utility-scale and C&I solar developer with a similar full-stack model spanning development, EPC, financing, and asset management; competes for both community solar and commercial projects in the Northeast.
- C2 Energy Capital: Solar developer focused on community solar and C&I projects with a similar third-party ownership model; active in multiple state incentive programs overlapping with Verogy's footprint.
- DEPCOM Power: Utility-scale solar EPC and O&M provider offering turnkey construction and operations services for developers and IPPs, directly comparable to Verogy's EPC and O&M core offerings.
Regional players
- Renu Energy: Commercial and community solar developer in the Carolinas and Southeast US, with a similar turnkey development + PPA model but operating in a different regional market from Verogy.
- ReVision Energy: Northeast US solar installer and developer (Maine-based) serving C&I, municipal, and residential customers with a similar end-to-end development + EPC + O&M model, overlapping in geography with Verogy.
Broad incumbents
- Swinerton Renewable Energy: Large-scale solar EPC contractor offering turnkey utility-scale and C&I construction services; competes with Verogy on EPC engagements and brings deeper balance sheet and nationwide reach.
- RWE Clean Energy (formerly Con Edison Clean Energy Businesses): Large renewable energy developer and owner-operator of utility-scale and community solar projects in the Northeast US, including direct PPA and community solar competition with Verogy.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Verogy social profiles
Digital presenceVerogy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Verogy leadership team
Management profileNumber of profiles
Profiles22 records
Verogy funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Verogy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Verogy
What does Verogy do?
Verogy develops, finances, constructs, and operates commercial and utility-scale solar projects for businesses, municipalities, universities, real estate owners, and utilities. The company delivers end-to-end solar solutions including project development, turnkey EPC, project finance (PPAs, leases, cash purchase, loans), and ongoing operations and maintenance. Multiple engagement models including third-party ownership options enable clients to adopt solar without upfront capital outlay.
Is Verogy a public or private company?
Verogy is a private company. It is classified as venture growth investor backed and is currently operating.
When was Verogy founded?
Verogy was founded in 2011. It employs 11 to 50 people.
Where is Verogy based?
Verogy is headquartered in Hartford, United States, in the North America region.
How does Verogy make money?
Six revenue lines are on record. Solar EPC (Engineering, Procurement, Construction) is the primary driver. The others are power Purchase Agreements (PPAs), solar Lease, turnkey Sale / Direct Ownership, project Ownership and Operations and project Acquisition.
Who are Verogy's main competitors?
Direct peers on record are Nexamp, Borrego Solar Systems, Pivot Energy, Origis Energy, C2 Energy Capital and DEPCOM Power. Regional players are Renu Energy and ReVision Energy. Broad incumbents are Swinerton Renewable Energy and RWE Clean Energy (formerly Con Edison Clean Energy Businesses).
Does Verogy have an API?
No public API is recorded for Verogy.
What industry is Verogy in?
Verogy's product category is Commercial Solar Energy Services. Its primary akta.pro industry code is EUACAGAB, Utility-Scale PV EPC (Engineering, Procurement & Construction), with a secondary code of EUAMABAB, Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System). Its NAICS code is 221114.