RIVERSIDE, Calif.--(BUSINESS WIRE)--Starting their business in the depths of the Great Recession and then growing it into one of Southern California’s leading renewable energy companies within a few short years has earned David Hsu and Ching Liu of SolarMax Technology a great deal of respect within the industry. It also impressed an expert panel of judges from the 2015 Inland Empire Spirit of the Entrepreneur Awards, who named the dynamic duo as Finalists in its prestigious annual business competition.
The two founders, representing SolarMax, are among the four honorees in the Corporate Entrepreneur category and one of only 28 outstanding Inland Empire companies that will be feted at the Riverside Convention Center the evening of November 10. Some 130 individuals and their businesses were nominated for top honors in the event, founded by the Inland Empire Center for Entrepreneurship at California State University - San Bernardino. This year’s nomination marks the first for SolarMax.
“It’s such a privilege to even be selected as a Finalist,” said Ms. Liu, who commented on the company blog. “When you look at the caliber of companies that make it to this round, you can’t help but feel proud that the judges, all of whom are top-flight business professionals in their own right, included us. David and I may be listed on the nomination, but this accomplishment belongs to every single member of our amazing team. We wouldn’t be here without them.”
David and Ching, both highly successful executives in the automotive and financial services fields, knew little about the solar industry in 2008 other than it was going to change the world. And they were determined to be a part of it.
The two visionaries initially worked from donated space in the City of Industry. Although sales steadily increased during their first two years, growth was severely constrained due to the company’s inability to access U.S. capital markets during the Great Recession.
Their major breakthrough came in 2010, when SolarMax Technology rolled out its own in-house financing program and established a direct lender relationship with its customer base. The customer financing program proved to be a game changer, enabling homeowners to go solar without the burden of a large upfront purchase.
Company sales have surged dramatically since its humble beginnings, spurring a 2012 move from LA County to the Inland Empire and into a facility that’s more than 100 times larger than its original space. Today, SolarMax operates from a registered, historic 165,000 square-foot building located just off the 91 freeway in Riverside.
About SolarMax Technology, Inc.
Founded in 2008, SolarMax Technology specializes in residential solar systems. The Riverside, California-based company continues to be one of the fastest growing companies in its space, having installed more than 5,000 systems since inception. It employs a workforce of 164 professionals across its Southern California base of operations, which also includes offices in Diamond Bar, Temecula, and San Diego.