Parent company of Sunetric files for bankruptcy

The parent company of Sunetric, a Kailua-based solar installation company, has filed for bankruptcy and closed down its operations.

As a result, Sunetric appears to be a casualty as a wholly owned subsidiary of its parent company. Sunetric’s office at 905 Kalanianaole Highway was locked up, its phone line is no longer active and online reviews have mentioned the company has closed down. Its website, sunetric.com, has filed for Chapter 7 bankruptcy liquidation in the U.S. Bankruptcy Court for the District of Colorado. The company’s board of directors decided to cease all business activities and terminate all of its employees.

Dennis Lacey, CEO of RGS Energy, was terminated and appointed as the company’s authorized signatory and representative.

Sunetric, founded in 2004 as Suntech Hawaii, installed thousands of residential as well as commercial and military solar photovoltaic systems across the state.

In May 2014, RGS Energy of Louisville, Colo., acquired Elemental Energy LLC, which operated under the Sunetric brand, and was entering the Hawaii market at a time when solar installations were on the rise.

At the time, Sunetric was among the state’s largest solar energy companies. During the acquisition, RGS had said Sunetric would maintain its local management team and brand and approximately 90 employees.

It remains unknown how many employees Sunetric had at the time of the bankruptcy filing.