Nextpower finalizes Prevalon acquisition, enters energy storage market

Nextpower, the company formerly known as Nextracker and best known for solar tracker equipment, has completed its $365 million purchase of Prevalon Energy, a maker of large-scale battery storage systems. Prevalon builds its products domestically and has about 6 gigawatt-hours of storage deployed worldwide, mostly for utility-scale projects and data centers. Prevalon was previously owned by Mitsubishi Power America.

This deal is a business move at the industry level, not a residential program. Prevalon's battery systems are built for utilities and large power users, not for home installations, so this news does not open up a new storage option for your own house. Prevalon's CEO, Tom Cornell, will keep running the business under Nextpower, and employees are getting stock in the new parent company as part of the transition.

For homeowners, the main relevance is broader context: solar and storage companies are consolidating, with equipment makers expanding into batteries, inverters, and other parts of the energy system. Nextpower has been buying up businesses across the solar supply chain, and this acquisition adds storage to a lineup that already includes trackers, inverters, and mounting hardware. It signals that large-scale battery storage is becoming a bigger part of the grid, which can support more solar and storage capacity overall, but it does not change what's available or affordable for home energy upgrades right now.