RGS Energy to discontinue large commercial business segment

LOUISVILLE — RGS Energy (Nasdaq: RGSE) announced Tuesday that it will discontinue its large commercial business segment so it can put more resources into its residential solar engineering, procurement and construction business.

The Louisville-based company did not disclose how many, if any, jobs will be cut.

Dennis Lacey, RGS Energy’s chief executive, said in a prepared statement that the “company’s best opportunity for improved future financial performance rests with our residential and Sunetric business segments. Sunetric installs photovoltaic panels and systems for homes and businesses in Hawaii. Earlier this year, RGS acquired Elemental Energy LLC, a full-service solar energy firm operating under the Sunetric brand.

RSG plans to complete existing large commercial construction contracts in progress in the coming months. It will continue to operate its residential and Sunetric business segments that operate in the small commercial solar segment, generally under 200 kilowatts in size.

“Oftentimes our residential solar customers own a small business and we also provide solar solutions for their business facilities. We believe the small commercial segment is an opportunity for future profitable growth,” Lacey said in the statement.

RGS Energy is a trade name and RGS Energy makes filings with the Securities and Exchange Commission under its official name Real Goods Solar Inc.