Nextpower launches energy storage business following completion of Prevalon acquisition

Nextpower has finished buying Prevalon Energy, a company that makes large-scale battery storage systems, for about $365 million in cash and stock. The deal adds more than 6 gigawatt-hours of installed battery storage, along with software and power control technology, to Nextpower's existing utility-scale solar business. Prevalon's CEO, Tom Cornell, will keep running the storage side of the business.

This is a corporate deal between big energy companies, not a program homeowners can apply to. Nextpower and Prevalon build large battery systems for power utilities and data centers, not the kind of home battery you'd install alongside rooftop solar. The company expects the acquisition to add $200 million to $300 million in revenue in 2027.

The bigger picture is that Nextpower has been buying up companies across the energy supply chain at a fast pace, including deals for AI technology, steel solar module frames, and power conversion equipment in 2025 and 2026. That kind of consolidation can shape which companies make the solar panels, batteries, and grid equipment available in the market over time, but it does not change any rebate, incentive, or program that homeowners currently have access to. There is no new homeowner action tied to this news.