Generac is a leading global designer and manufacturer of a wide range of energy technology solutions. The Company provides power generation equipment, energy storage systems, grid service solutions, and other power products serving the residential, light commercial and industrial markets. Power generation and storage is a key focus of Generac, which differentiates the Company from its competitors who also have broad operations outside of the power equipment market. As the only significant market participant with a primary focus on these products, Generac maintains one of the leading market positions in the power equipment market in North America and an expanding presence internationally. The Company has one of the widest ranges of products in the marketplace, including residential, commercial and industrial standby generators; as well as portable and mobile generators used in a variety of applications. Also, during 2019, Generac began providing energy storage systems as a clean energy solution for residential use that capture and store electricity from solar panels or other power sources and helps reduce home energy costs while also protecting homes from shorter-duration power outages. During 2020, the Company entered the market for grid services involving distributed energy optimization and control software that helps support the operational stability of the world's power grids. We have also been focused on connecting the equipment we manufacture to the users of that equipment, helping to drive additional value to our customers and our distribution partners over the product lifecycle. The strategic focus on expanding the connectivity of our products will broaden our monitoring capabilities and also enable the increasing utilization of this equipment as distributed energy resources as the nascent market for grid-services expands over the next several years. Overall, as the traditional centralized utility model evolves over time, the Company believes that a cleaner, more decentralized grid infrastructure will build-out, and Generac's energy technology solutions are strategically positioned to participate in this future "Grid 2.0". In addition to power generation and storage solutions, other products designed and manufactured include light towers which provide temporary lighting for various end markets, and a broad and growing product line of outdoor power equipment for residential and commercial use. Generac’s energy technology solutions are available globally through a broad network of independent dealers, distributors, retailers, ecommerce partners, wholesalers and equipment rental companies, as well as sold direct to certain national and regional account customers, as well as to individual consumers that are the end users of its products and solutions.
Generac Holdings ()
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