What Exel Solar does

Exel Solar S.A.P.I. de C.V. is a Mexican B2B wholesale distributor of photovoltaic equipment, energy storage systems, and balance-of-system components, operating as a subsidiary of the diversified conglomerate Grupo Exel. Founded in 2008 with the installation of the first grid-connected PV system on the Yucatán Peninsula, the company has grown into the self-described largest national wholesale distributor of PV equipment in Mexico, distributing equipment from more than 50 brands including JA Solar, Longi, Jinko, Trina Solar, SMA, Solis, Fronius, Sungrow, Huawei, Tesla, Pylontech, Unirac, and K2. Its customer base comprises over 5,000 registered professional solar integrators and installers serving residential, commercial, and industrial end-markets across Mexico, served through seven branches (Mérida, Mexico City, Guadalajara, Monterrey, Tijuana, Chihuahua, Veracruz headquarters) plus a Querétaro-based CEDIS distribution center that provides national coverage.

The company's technology stack centers on a proprietary B2B e-commerce platform branded XL Store, which enables registered integrators to access real-time cross-branch inventory, place orders, track shipments, manage invoices, and file warranty tickets online. Value-added services include an in-house engineering division offering single-line diagram design, mounting system layout, and production simulation for residential and C&I projects, as well as factory-certified technical support and warranty service centers for SMA (the only certified SMA support center in Mexico), Solis, Fronius (Certified Service Partner Plus), and Sungrow inverter products. These certifications require OEM-vetted engineers, OEM-grade repair tooling, and ongoing recertification.

Revenue is generated through (a) wholesale hardware sales at quote-based B2B pricing accessible only to registered integrators via Pre-Alta validation, (b) engineering services for C&I-scale installations, and (c) certified warranty and repair work channeled through the OEM partnerships. Distribution is exclusively B2B — no direct-to-consumer channel — with a hybrid inside-sales, dedicated-account-executive, and self-serve e-commerce GTM motion targeting SMB and mid-market installer segments. The company is privately held under Grupo Exel, alongside sister companies Exel del Norte (IT wholesale), Asertur (travel services), and Exel Capital (integrator financing), and has recently opened a US office to begin exploring international expansion.

Name

Exel Solar

Legal name

Exel Solar S.A.P.I. DE C.V.

Website

https://exelsolar.mx

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Mexican B2B wholesale distributor of photovoltaic modules, inverters, batteries, mounting systems, and balance-of-system components, serving over 5,000 registered solar integrators and installers nationwide through 7 branches, a Querétaro CEDIS, and the proprietary XL Store e-commerce platform.

Ownership category

akta.pro rank

Product category

Solar Equipment Distribution

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Solar Distribution & Wholesale Supply (Channel, Procurement, Logistics) (EUAMABAK)

Keywords

• Solar equipment distribution
• Photovoltaic wholesale supply
• Solar inverter distribution
• Renewable energy components
• Solar mounting systems

Headquarters

HQ city

Mérida

HQ country

Mexico

HQ region

Latin America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Photovoltaic Equipment Wholesale: Wholesale distribution of solar panels, inverters, microinverters, batteries, charge controllers, protections, meters, mounting systems, and installation supplies to certified integrators and installers.
2. Engineering Services: Technical engineering services including system design, single-line diagrams, mounting plans, and production simulations for commercial and industrial projects.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Exel Solar is a B2B wholesale distributor of photovoltaic solar energy equipment in Mexico, supplying solar panels, string and microinverters, batteries, mounting systems, and installation supplies to solar integrators and installers. The company operates a national distribution network of seven branches plus one centralized distribution center (CEDIS), complemented by the XL Store e-commerce platform and value-added services including engineering support, technical assistance, certified brand servicing, and a Commercial & Industrial (C&I) program.

Product overview

Exel Solar is a B2B wholesale distributor of photovoltaic (solar) equipment and energy storage solutions in Mexico, serving a network of over 5,000 professional integrators and installers. The product portfolio centers on physical solar equipment — Paneles Solares (solar panels), Inversores (inverters), Microinversores (microinverters), Baterías y Controladores (batteries and controllers), Protecciones y Medidores (protections and meters), Sistemas de Montaje (mounting systems), and Suministros de Instalación (installation supplies) — complemented by a proprietary e-commerce platform (XL Store) and value-added services including Ingeniería (engineering design and simulation), Soporte Técnico (certified technical support), and a Programa C&I (Commercial & Industrial Program) for large-scale project development. The XL Store serves as the core digital channel for real-time inventory access, ordering, and post-sale management. The company distributes more than 50 brands of solar equipment including JA Solar, Solis, Sungrow, SMA, Fronius, Huawei, Longi, Jinko, Trina Solar, Tesla, Hoymiles, ZNShine, Pylontech, Unirac, K2, and others.

Differentiator

Problem solved

Functional benefit

Brands

• XL Store: Online e-commerce platform for integrators to quote and purchase photovoltaic products

Quantifiable outcome

• Over 2GW of solar capacity distributed across Mexico
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• SMAcoreTechnology or IntegrationCertified Support Center for SMA products in Mexico - the only one in the country. Provides warranty processing, technical support, and repair services for SMA inverter products.
• SoliscoreTechnology or IntegrationCertified technical and repair center for Solis products in Mexico for warranty support and claims processing.
• FroniuscoreTechnology or IntegrationCertified Service Partner Plus for Fronius products, providing warranty and technical support services.
• SungrowcoreTechnology or IntegrationCertified Technical Support Center in Mexico for Sungrow inverters, handling warranty claims and technical support.
• ANES (Asociación Nacional de Energía Solar)minorOthersNational solar energy association in Mexico, promoting solar industry development and standards.
• AsolmexminorOthersMexican photovoltaic industry association for solar energy development and advocacy.
• AMIF (Asociación Mexicana de Industria Fotovoltaica)minorOthersMexican photovoltaic industry association for solar market development.
• Exel del NorteminorOthersPart of Grupo Exel - Mexican company with 35 years of experience in wholesale computing, consumables, printing, accessories, stationery, software, consumer electronics, servers and networks.
• AserturminorOthersPart of Grupo Exel - company founded March 28, 1990 with extensive experience in travel advisory services.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Memodo: Germany-based solar wholesale distributor serving installers and EPCs across Europe with PV modules, inverters, batteries, mounting, and accessories. Directly comparable to Exel Solar in product breadth (50+ brands), value-added services (engineering, training), and B2B installer-centric GTM model.
• Krannich Solar: German-headquartered global solar photovoltaic wholesale distributor serving professional installers across more than 25 countries. Krannich is the closest international analogue to Exel Solar — both are multi-brand B2B PV wholesalers offering engineering support, logistics, and training to certified installer networks, with Krannich operating at materially larger scale globally.
• IBC Solar: Germany-headquartered solar PV wholesaler and EPC that combines multi-brand distribution with project development. Highly comparable to Exel Solar on the wholesale side (modules, inverters, BOS, engineering support to installers) while operating at significantly larger scale and broader geographic footprint.
• Suministros Solares: Spanish PV equipment wholesaler distributing modules, inverters, batteries, and mounting systems to installers, with engineering and project design support. Closely mirrors Exel Solar's product breadth, B2B wholesale model, and emphasis on technical enablement for the installer channel.
• Albasolar: Spain-headquartered multi-brand solar equipment wholesaler serving installers with PV modules, inverters, batteries, and BOS, plus engineering and training. Highly analogous business model to Exel Solar in a different European geography, with comparable reliance on leading Asian and European supplier brands.
• Tecnosol: Spanish solar PV distributor with multi-brand portfolio across modules, inverters, batteries, and balance-of-system components serving professional installers. Directly comparable to Exel Solar in business model, customer segment (professional integrators), and complementary engineering services.
• Autosolar: Spanish solar equipment distributor offering modules, inverters, batteries, and accessories through B2B and online channels with technical support to installers. Comparable to Exel Solar in multi-brand portfolio structure, installer-centric GTM, and value-added engineering and training services.

Regional players

• Conermex: Mexican electrical equipment and supplies distributor with nationwide presence and multi-branch operations. While not solar-specialized like Exel Solar, Conermex is a relevant regional comparator given overlapping B2B distribution infrastructure, multi-branch Mexican footprint, and installer/contractor customer base that increasingly intersects with PV.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCBq1gB9DlNYwarmu90Z36Lg
• Facebookes-la.facebook.com/exelsolar
• LinkedInlinkedin.com/company/exelsolar
• Instagraminstagram.com/exelsolarmx
• Xx.com/exelsolarmx

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

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 Exel Solar