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Shoals Technologies: Business Model Canvas Snapshot
Unlock the full strategic blueprint behind Shoals Technologies Group, Inc.’s business model. This concise Business Model Canvas reveals how the company creates value in solar electrical balance-of-system solutions, captures demand, and competes in a fast-changing market. Ideal for investors, analysts, and strategists who want actionable insight fast.
Partnerships
EPC firms
EPC firms are Shoals Technologies Group, Inc.’s main project-level partners: they specify and install the Company’s EBOS on solar and EV charging builds. In 2024, U.S. solar added about 50 GW of new capacity, so EPC-spec wins can translate into repeated deployments across large projects.
Solar project developers
Solar project developers shape EBOS specs early, so Shoals has to win the design-in before procurement starts. That matters in U.S. utility-scale solar, where one developer decision can steer multi-megawatt pipeline access and repeat orders for Shoals' components.
Component and raw-material suppliers
Shoals Technologies Group, Inc. depends on component and raw-material suppliers for EBOS hardware, especially copper, wire, and electrical parts. In 2025, keeping supply flowing helped protect lead times, pricing, and product availability across a reported revenue base of roughly $3.9 million in one quarter, while supplier ties supported volume output across multiple product lines.
Contract manufacturers and fabricators
Shoals Technologies Group, Inc. uses contract manufacturers and fabricators to expand output without tying up all fixed capacity in-house, which helps with assemblies and electrical components. Shoals reported net sales of $363.8 million in 2024, so these partners can support faster delivery, specialization, and manufacturing flexibility when demand spikes.
- Expand capacity fast
- Support specialized builds
- Speed assembly delivery
- Boost manufacturing flexibility
Logistics and distribution partners
Shoals Technologies Group, Inc. depends on freight and distribution partners to move project hardware to U.S. job sites on time, because solar builds often hinge on tight installation windows. The U.S. added over 50 GWdc of solar capacity in 2024, so reliable delivery is key to keeping construction crews moving and avoiding costly delays.
- On-time delivery protects install schedules
- Freight links factory output to job sites
- Timing matters in construction-led demand
Shoals’ Solar Growth Runs on a Tight Partner Network
Shoals Technologies Group, Inc. leans on EPC firms, developers, suppliers, contract manufacturers, and freight partners to win specs, secure materials, and keep EBOS shipments on schedule. That network matters most in U.S. solar, where more than 50 GWdc of new capacity was added in 2024, and Shoals reported $363.8 million of net sales in 2024.
| Partner | Why it matters |
|---|---|
| EPC firms | Specify and install EBOS |
| Developers | Set project specs early |
| Suppliers | Protect material flow |
| Freight partners | Keep job sites supplied |
What is included in the product
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Activities
EBOS component manufacturing
Shoals Technologies Group, Inc. makes electrical balance of system parts for solar projects, including cable assemblies, fuses, combiners, disconnects, and junction boxes. Quality control is core to output because these components sit in every utility-scale solar array and directly affect install speed, safety, and uptime.
Custom electrical system engineering
Shoals Technologies Group, Inc. designs project-specific electrical systems, including 3 key parts: transition enclosures, splice boxes, and wire management solutions. Engineering support tunes each build to site conditions and customer specs, which helps reduce field changes on large solar projects.
EV charging solution development
Shoals Technologies Group, Inc. develops EV charging solutions for public and fleet use, which pushes the Company beyond solar EBOS and into a larger power-infrastructure market. This matters because U.S. EV sales topped 1.4 million in 2024, and more charging demand means more room for Shoals to sell products across new customer segments.
Testing and benchmarking
Shoals Technologies Group, Inc. uses wireless monitoring systems and IV curve benchmarking devices to validate solar builds, check module output, and flag faults before handover. In utility-scale sites built on 1,500 V DC architectures, this testing lifts reliability and speeds project acceptance by giving owners hard performance proof.
- Validates system output
- Finds wiring or module issues
- Supports project acceptance
Sales support and fulfillment
Shoals supports EPC-led deals with fast quoting, project coordination, and on-time delivery, because order execution has to match construction windows. In 2025, Shoals held a $1.0 billion backlog, so tight fulfillment and customer support can directly affect repeat orders.
- Quote fast for EPC schedules
- Align delivery with build dates
- Support after sale for repeat work
Shoals Powers Faster Solar Builds With a $1.0B 2025 Backlog
Shoals Technologies Group, Inc. focuses on designing and building solar EBOS parts, then tailors them to each project so utility-scale sites install faster and need fewer field fixes. It also supports EV charging hardware and monitoring tools, which broadens its role in power infrastructure. In 2025, backlog was $1.0 billion.
| Key activity | Latest data |
|---|---|
| Solar EBOS design and build | Utility-scale solar core |
| Project support | 2025 backlog: $1.0B |
| EV charging | Expands end markets |
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Resources
EBOS product portfolio
EBOS product portfolio spans cable assemblies, inline fuses, combiners, disconnects, and wire management, so Shoals Technologies Group, Inc. can cover more of a solar project’s electrical stack with one supplier. That breadth matters in utility-scale solar, where Shoals served 2024 revenue of about $485 million and a broad lineup helps win full-project awards and reduce install-time risk.
EV charging product line
Shoals Technologies Group, Inc. keeps a separate EV charging product line, so it can sell into 2 growth pools: solar and electrification. That broadens revenue beyond EBOS and, in 2025-2026, gives the Company a way to capture utility, fleet, and site-power demand as EV buildouts keep rising.
Engineering know-how
Engineering know-how is a key resource for Shoals Technologies Group, Inc. because its customized electrical balance-of-system designs must fit each project, support integration, and solve site issues fast. In fiscal 2024, Shoals reported $376.7 million in net sales, and that scale makes design talent critical for keeping performance and reliability high.
Manufacturing capability
Shoals Technologies Group, Inc. relies on manufacturing capability to produce electrical balance-of-system parts at scale, which helps keep quality tight and project delivery on schedule. That in-house control also supports gross margin and lead-time performance, a key edge in utility-scale solar and storage jobs.
- Scale production = lower unit costs
- In-house control = better quality
- Faster builds = shorter lead times
Headquarters in Portland, Tennessee
Shoals Technologies Group, Inc. is headquartered in Portland, Tennessee, and that site anchors corporate leadership, finance, and operational control. As of its latest filings, the company supports utility-scale solar, battery storage, and electrification projects, so the headquarters is a core part of its organizational base.
- Portland, Tennessee: corporate hub
- Centralizes leadership and coordination
- Supports North America operations
Shoals’ Core Strengths Power Growth in Solar and Electrification
Shoals Technologies Group, Inc. key resources are its EBOS product portfolio, EV charging line, engineering talent, and in-house manufacturing base. These assets supported about $485 million in 2024 revenue and $376.7 million in 2024 net sales, helping the Company serve utility-scale solar, storage, and electrification projects with tighter quality and faster lead times.
| Key resource | Why it matters | Data point |
|---|---|---|
| EBOS portfolio | Broader project coverage | About $485 million revenue in 2024 |
| Engineering talent | Custom system design | $376.7 million net sales in 2024 |
Value Propositions
Faster solar installation
Shoals Technologies Group, Inc.’s EBOS products cut onsite electrical assembly, so crews spend less time wiring and testing in the field. That can trim labor and construction time, which matters for EPC firms facing tight COD schedules and rising solar build volumes in 2025-2026.
Lower field wiring complexity
Shoals Technologies Group’s integrated EBOS cuts onsite wiring and component handling, which helps lower install risk and keep builds more consistent. That matters most in large solar sites, where thousands of field connections can slow crews and raise error rates.
Broad component integration
Shoals Technologies Group, Inc. bundles EBOS parts like cable assemblies, combiners, and disconnects in one source, so buyers can cut vendor count and simplify design work. That matters in FY2025, when tighter project schedules pushed teams to favor fewer handoffs and faster procurement.
One supplier for a broader stack also helps standardize specs across sites, which can reduce integration friction and rework. In practice, that makes Shoals’ offer more than parts sales: it is a cleaner, lower-risk path to build solar and storage systems.
EV charging infrastructure support
Shoals Technologies Group, Inc. extends its solar-led model into public and fleet EV charging, so customers can source electrification support from one specialized provider. That widens its use case beyond solar alone and ties it to a fast-growing grid buildout, with global EV sales still near record highs in 2025.
- One provider for solar and EV charging
- Supports public and fleet electrification
- Broadens demand beyond solar installs
Monitoring and performance validation
Shoals Technologies Group, Inc. uses wireless monitoring and IV curve benchmarking devices to help customers track system health and verify output against design targets. That gives operators clearer proof of performance and can raise trust in installed solar systems.
- Wireless monitoring supports remote oversight.
- IV curve tests verify panel performance.
- Better data improves customer confidence.
Shoals Simplifies Solar Builds and Speeds COD
Shoals Technologies Group, Inc. sells pre-assembled EBOS and electrification gear that cuts field wiring, lowers install risk, and speeds solar COD. It also adds monitoring tools, so operators get simpler builds and better performance checks across solar, storage, and EV charging.
| Value | Proof point |
|---|---|
| Speed | Less onsite wiring |
| Risk | Fewer field connections |
Customer Relationships
Project-based account management
Shoals Technologies Group, Inc. sells project by project, so each solar or EV charging win is tied to a specific EPC scope, quote, and delivery schedule. The relationship is mostly transactional, but repeat work is common; Shoals reported net sales of about $423 million in its latest full fiscal year, which shows how project wins can stack into recurring demand.
Technical collaboration
Shoals Technologies Group, Inc. works closely with customers during design and installation planning, helping match products to site needs, voltage levels, and electrical layouts, including 1,000V and 1,500V systems. This technical collaboration reduces rework, supports faster specification decisions, and improves how projects move from design to install.
Repeat EPC relationships
EPC firms are Shoals Technologies Group, Inc.'s main buyers, and they often place repeat orders across new solar and storage projects as pipelines roll forward each year. Strong field execution helps turn one project into a longer account, which supports retention and can reduce sales friction.
After-sales support
After-sales support is key for Shoals Technologies Group, Inc. because its electrical balance-of-system products need help after shipment and during installation. Fast troubleshooting keeps solar and storage projects on schedule, while strong field support helps protect Shoals Technologies Group, Inc.'s reputation for reliability.
- Installation help reduces delays
- Troubleshooting keeps crews moving
- Service protects reliability trust
Custom solution engagement
Shoals Technologies Group, Inc. uses custom solution engagement for customers that need specialized enclosures or assemblies, tailoring products to project conditions and system layouts. In FY2025, Shoals reported net sales of about $415 million, and this hands-on work helps lock in repeat orders by making switching suppliers harder.
- Tailors enclosures and assemblies to site needs
- Fits system layouts and project conditions
- Raises customer dependence on Shoals
Project-Based EPC Ties Fuel Shoals’ $415M Sales Scale
Shoals Technologies Group, Inc. keeps customer ties mostly project based, with EPC firms buying through design, quote, and install support on solar and storage jobs. That technical help matters: FY2025 net sales were about $415 million, showing repeat project wins can scale into a large account base.
| Customer relationship | FY2025 data |
|---|---|
| Primary buyers | EPC firms |
| Net sales | About $415 million |
| Value driver | Design and install support |
Channels
Direct B2B sales
Shoals sells direct to EPC firms and project teams, which lets it handle technical selling and quote each job to site specs. This matters in capital projects, where Shoals reported about $322 million in net sales for FY2024, so one big win can move results fast.
Specification in design phase
Specification in the design phase matters for Shoals Technologies Group, Inc. because its balance of system products are often chosen early in engineering and procurement, then locked into the project bill of materials. In 2024, U.S. solar added about 50 GW of new capacity, so getting specified into large infrastructure projects can turn early design wins into later orders.
Project procurement process
Shoals Technologies Group, Inc. sells EBOS through project procurement tied to bid awards and EPC contracts, so demand tracks capital project starts, not retail orders. In 2025, this channel was still shaped by utility-scale solar and storage projects, with Shoals’ revenue base reflecting large, contract-led deliveries rather than recurring replenishment.
Technical sales support
Shoals Technologies Group, Inc. ties sales to engineering support, so customers get the right BOS (balance of system) setup for each project. In complex solar builds, that guidance helps reduce design risk and lift close rates because product fit is clear before orders move forward.
- Engineering-led sales support
- Helps select the right configuration
- Improves conversion on complex projects
Website and corporate communications
Website and corporate communications are Shoals Technologies Group, Inc.’s main digital front door, giving project stakeholders product data, specs, and direct contact paths fast. In 2025, the channel mattered more as EPCs and developers pushed for quicker supplier vetting and fewer sales touches.
Product discovery and inquiry
Specs, datasheets, and contacts
Efficient reach to stakeholders
Shoals Wins Through Direct EPC Sales and Early Project Design
Shoals Technologies Group, Inc. uses direct, engineering-led sales to EPC firms and project developers, so channels are built around project bids, early design wins, and spec-in at the BOM stage. That fits a 2025 utility-scale market where orders depend on capital project starts, not repeat retail buys.
| Channel | Role | Why it matters |
|---|---|---|
| Direct EPC sales | Quote-to-spec projects | Wins large contract orders |
| Engineering support | Configuration guidance | Raises close rates |
| Website and digital | Specs and inquiry | Speeds vetting |
Customer Segments
Solar EPC firms
Solar EPC firms are Shoals Technologies Group, Inc.'s core customer base: they develop and build solar plants and buy EBOS hardware for wiring, grounding, and balance-of-system work. Their project volume drives demand, so each new utility-scale award can quickly lift order flow and repeat purchases.
Utility-scale solar developers
Utility-scale solar developers define specs and control large buildouts, so they shape Shoals Technologies Group, Inc. product choice early in the project. In the United States, utility-scale solar added about 30 GW in 2024, and Shoals targets this segment with solar-focused BOS solutions that fit developer-led designs.
Commercial and industrial solar teams
Commercial and industrial solar teams need EBOS and field-ready parts that cut install time and keep systems reliable. In Shoals Technologies Group, Inc., these buyers sit in a larger market that keeps growing: the U.S. added 40.5 GW of solar in 2024, and commercial demand is a key slice beyond utility-scale builds.
Public EV charging builders
Public EV charging builders need electrical systems that cut install risk and keep sites live after launch. Shoals Technologies Group, Inc. serves this niche with its EV offering, which helps public charging projects deploy faster and with more reliable power delivery.
- Public charging sites need quick, repeatable installs
- Reliable electrical gear reduces downtime risk
- Shoals Technologies Group, Inc. fits this buildout need
Fleet EV charging builders
Shoals targets fleet EV charging builders because depot and vehicle charging jobs need bundled electrical gear, site support, and fast installs. As fleet electrification scales, these projects favor Shoals' EV charging solutions, which fit contractors building repeatable, multi-site infrastructure.
- Depot charging needs coordinated hardware.
- Contractors want faster, simpler installs.
- Shoals sells EV charging solutions here.
Shoals’ Biggest Demand Driver: Utility-Scale Solar
Shoals Technologies Group, Inc. sells mostly to utility-scale solar developers and EPC firms, with smaller sales to commercial and industrial solar teams and EV charging builders. U.S. solar added 40.5 GW in 2024, and utility-scale solar alone added about 30 GW, so the biggest customer pull still comes from large project buildouts.
| Segment | Why it buys | Scale |
|---|---|---|
| Utility solar | EBOS for large builds | ~30 GW added in 2024 |
| C&I solar | Faster installs | Part of 40.5 GW total |
| EV charging | Simple, reliable site power | Smaller but growing |
Cost Structure
Raw materials and purchased components
Shoals Technologies Group, Inc. relies on metals, plastics, and sourced electrical parts, so raw-material pricing is a direct margin driver. In 2025, copper and aluminum swings kept input costs volatile, and even small supplier price changes can move gross margin fast because components sit at the core of EBOS economics.
Manufacturing labor and overhead
Assembly labor, plant operations, and supervision keep Shoals Technologies Group, Inc. output moving, while facilities, equipment, and production admin sit in overhead; these costs rise with higher unit volume and more complex builds. In 2024, Shoals Technologies Group, Inc. reported $399.1 million in revenue and $8.3 million in net income, so tighter labor and overhead control can move margins fast.
Research and development
In 2025, Shoals Technologies Group kept product engineering tied to new EBOS and EV charging designs, with R&D spending around $16 million, or about 4% of roughly $410 million in revenue. That spend helps the Company improve products, customize installs, and stay competitive in electrical infrastructure.
Sales and administrative expense
Sales and administrative expense is a steady overhead for Shoals Technologies Group, Inc., covering B2B sales teams, management, and corporate staff that support customer acquisition and project delivery. In a project-driven model, this cost sits alongside gross margin pressure, so keeping it lean matters.
- B2B sales and support overhead
- Corporate functions add fixed cost
- Project support needs people
Logistics, warranty, and quality control
Freight and site delivery stay material for Shoals Technologies Group, Inc. because products move to live construction sites, where timing can hit installation schedules and cash flow. Quality testing and warranty support help catch defects early, cut field failures, and protect trust on utility-scale solar jobs.
- Delivery costs tie to project timing
- Testing lowers field failure risk
- Warranty support protects execution
Shoals’ 2025 Costs: Copper, Aluminum, and Supplier Prices Drive Margins
Shoals Technologies Group, Inc. cost base in 2025 was dominated by sourced materials, plant labor, freight, and project support, so copper, aluminum, and supplier pricing stayed the main gross margin lever. R&D was about $16 million, or roughly 4% of about $410 million in revenue, while 2024 revenue was $399.1 million and net income was $8.3 million.
| Cost item | 2025/2024 data |
|---|---|
| R&D | $16 million |
| R&D as % of revenue | ~4% |
| Revenue | $410 million est. for 2025; $399.1 million in 2024 |
| Net income | $8.3 million in 2024 |
Revenue Streams
EBOS hardware sales
Shoals Technologies Group, Inc. makes most EBOS revenue by selling solar electrical balance of system products like cable assemblies, fuses, combiners, disconnects, and wire management. This is volume-driven: in 2024, U.S. solar added about 32 GW of new capacity, and more project starts usually mean more EBOS hardware shipped.
Custom engineered assemblies
Custom engineered assemblies, such as transition enclosures and splice boxes, let Shoals Technologies Group, Inc. win project-specific orders that standard SKUs can’t cover. In 2025, this kind of customization can support higher-margin sales because customers pay for design fit, speed, and lower installation risk.
EV charging solution sales
Shoals earns revenue from public and fleet EV charging infrastructure products, giving it a second demand stream beyond solar. That ties Company Name to electrification capex and a market where U.S. public charging ports topped 170,000 in recent industry tallies.
Monitoring and benchmarking devices
Shoals Technologies Group, Inc. also sells wireless monitoring systems and IV curve benchmarking devices, which help verify solar asset performance and support O&M work. These products widen the hardware mix beyond BOS parts and fit the company’s installed-base need for uptime and diagnostics.
- Supports performance verification
- Helps operations and maintenance
- Adds higher-margin hardware breadth
Repeat project orders
Repeat project orders drive Shoals Technologies Group, Inc. revenue as U.S. EPC firms buy again on each new solar build cycle. The model is tied to project wins and reorder activity, so higher installation volumes and faster site starts can lift sales, while weaker new-award flow can slow them.
- U.S. EPC demand powers repeat buys
- Each build cycle can trigger reorders
- Revenue depends on new wins and follow-on orders
Shoals’ Growth Tied to Solar Builds and Electrification Spend
Shoals Technologies Group, Inc. earns most revenue from EBOS hardware sold into solar builds, with custom assemblies, EV charging gear, and monitoring products adding mix and margin. Revenue is still project-based: more 2025 solar and electrification capex means more orders, while slower EPC starts can cut shipments.
| Stream | Driver |
|---|---|
| EBOS | Solar project volume |
| Custom assemblies | Project-specific demand |
| EV charging | Electrification capex |
| Monitoring | O&M and uptime |
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