San Diego, United States [RenewableEnergyWorld.com] Open Energy Corporation has changed its name to Applied Solar Inc. The company said that the name change reflects its new strategy to offer solar solutions for every type of rooftop, including the ability to produce solar power, measure and control its usage in order to reduce overall energy demand, as well as offer developers and homeowners the ability to improve their return on investment by gaining the benefits of rooftop solar power systems through a power purchase agreement (PPA).
The company’s new business strategy includes a complete shift from a manufacturing model to a licensing model in order to more efficiently bring to market its suite of building-integrated photovoltaic (BIPV) products and technologies.
The company also plans to distribute residential EcoTouch Energy Management Systems to meet the growing need to reduce electricity costs by enabling homeowners to both monitor and control their energy usage from their homes or remotely. Applied Solar will also focus on its Solar Communities program through which it owns and operates residential solar systems and sells the energy generated to homeowners through a PPA
“We executed this name change to make it clear to our stockholders, business partners and customers that we are focused on and committed to offering a full suite of solar solutions in a business model that we believe best leverages our core competencies,” said David Field, president and CEO of Applied Solar. “Our decision to focus on innovative residential and commercial solar products reflects our ability to be at the forefront of industry trends and quickly capitalize on market opportunities.”