ModSolar Moves Headquarters to Philadelphia

ModSolar, a creator of technology solutions for the solar professional, has moved its headquarters into Center City, Philadelphia.

ModSolar has moved into the fourth floor of the Belmont Building, at 211 North 13th Street in Philadelphia. The company will occupy the entire floor—9,500 square feet—which is more than five times as large as its previous offices in Ardmore (1,800 square feet).

“We’ve come a long way since the birth of ModSolar in early 2011 from an office in my home, then a small office in Malvern, Penn., to our office in Ardmore, Penn., and now our move into Center City, Philadelphia,” says Mike Dershowitz, founder and chief executive officer of ModSolar.

“Moving into Philadelphia amid the growing technology start-up scene is a direct result of our continuing growth in employees, customers and revenues during the past three years,” says Dershowitz. “We are looking to hire more people this year and being in Philadelphia will be a great advantage in finding new people to join our team.”

ModSolar’s software enables solar providers to produce solar proposals and contracts in less than five minutes, including the company’s patent-pending software that enables placement of panels on an image of the prospect’s roof, as well as the calculation of the return on the solar investment. ModSolar develops software that dramatically reduces the “soft costs” involved in solar sales, solar system design, production of high-quality solar proposals, and all the paperwork surrounding solar installations.

The job growth in the solar industry nationwide is more than 170,000 jobs in the past two years, and is expected to continue in the near term. ModSolar has grown from two employees in 2011 to more than two dozen as of Feb. 15. The company’s move into Center City, Philadelphia will enable ModSolar to add several more employees this year in Philadelphia, as well as support the company’s growth in international markets including England and Germany.

“Prior to 2014, we were doubling our revenue every year,” says Dershowitz. “Our revenue in 2014 was 200 percent of our revenue in 2013, and we are projecting the same percentage growth again in 2015. We are adding more products and services for our customers, and we are adding some new team members in other countries, as well, with increased opportunities to grow ModSolar’s reach in the U.S. and internationally as the solar industry continues to gain prominence. And we continue to grow without any outside financing. Pretty good for a company we started with a $3,500 cash advance on my credit card.”

Currently, close to $40 million per day in solar contracts are being generated through ModSolar’s software platform, representing an estimated 5 percent of the solar market in the U.S. Thousands of ModSolar users produce more than 3,000 solar proposals each week. ModSolar’s corporate clients are major players in the solar industry, including SunEdison, Enphase Energy, GAF, Kyocera and Astrum Solar.