UV50 Fastest-Growing Companies: No. 2 Encor Solar

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THREE-YEAR GROWTH 4,373%
2019 REVENUE $20.3 million
CITY Lehi
FOUNDED 2016
EMPLOYEES 34
INDUSTRY Residential solar/sales
WEBSITE EncorSolar.com
FOUNDERS Dan Larkin, 35; Jeremy Smith, 35; Jared Biesinger, 33
THE COMPANY A full-service solar provider.

WHAT A RUN
Encor Solar has the sun on their side. At just four years old, this $20-million company is making its mark in a growing, sustainable market with a strategic focus on culture, infrastructure, and investment programs. 

GOALS 1.
“Vertically integrate consumer financing into product offering.” 2. “Build a $1B portfolio of consumer loan products.” 3. “Offer downstream ancillary products and services to capitalize on the long tail relationship with the consumer.”

ADVICE
“Check your ego. Question everything.”

AS LUCK WOULD HAVE IT

Luckiest Moment “Coronavirus created a shift toward a nationwide work-from-home movement that also had the side effect of increasing homeowners’ electrical consumption. Our monthly revenue has nearly doubled since March.”

Unluckiest Moment “Coronavirus hit when we were 2 weeks out from the launch of our new consumer finance program. We had to indefinitely delay our new product launch.”

Fortune Cookie Forecast “The sure way to predict the future is to invent it.”

Click here to read about all the 2020 winners

 

 

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