Real Goods Alive and Well After Unrelated RGS Energy Bankruptcy Filing

02/13/2020 15:29

Ukiah, California (February 13, 2020)Real Goods, the California-based original purveyor of off-grid living supplies, is alive, well, and powered by altE since September of 2019. Real Goods is in no way connected to RGS Energy, nor has it been since December 2014.

RGS Energy, a Colorado-based solar installer and solar shingle company, has ceased operations and filed for Chapter 7 bankruptcy. Given that the company spawned from Real Goods in 2002 (the "RGS" portion of the RGS Energy name was derived from "Real Goods Solar"), this has caused some confusion for Real Goods customers and other solar industry companies.

History of Real Goods and RGS Energy

The Real Goods Trading Corporation (Real Goods) was founded in 1978 by John Schaeffer as a brick-and-mortar store, selling off-grid living supplies in Northern California. That year they became the first commercial retailer of solar panels in the United States. In 1985, Real Goods began printing a mail-order catalog as its primary retail channel.

In 2001, Real Goods merged with sustainable lifestyle company Gaiam. In 2002, while continuing to operate its mail-order catalog and brick-and-mortar store for off-grid living supplies, Real Goods opened a residential solar panel installation division under the name Real Goods Solar. Two years later, Real Goods Solar added a commercial solar installation division.

In 2008, Real Goods Solar held an initial public offering (IPO) and began trading under the NASDAQ ticker symbol RSOL. Through holding 100% of Real Goods Solar's Class B shares, Gaiam maintained control of the company.

In January 2014, Real Goods Solar combined its residential and commercial solar installation divisions and rebranded under the name RGS Energy, changing its NASDAQ ticker symbol from RSOL to RGSE.

In December 2014, Real Goods founder John Schaeffer purchased 100% of the Real Goods name and retail/e-commerce interests from RGS Energy, divesting Real Goods from RGS Energy.

In September 2019, The Alternative Energy Store (altE) acquired Real Goods Trading Corporation assets from Schaeffer, and continues to power the Real Goods name and website. Real Goods expanded operations late last year, opening a new warehouse in Ukiah, CA.

Schaeffer remains Chairman of the Board of the Solar Living Institute (SLI), located within the Solar Living Center (SLC) in Hopland California. The SLI owns and operates the Solar Living Store, also housed at the SLC.

About Real Goods

Founded in 1978, Real Goods is the original purveyor of off-the-grid living supplies. Originally envisioned as a one-stop-shop where people could find everything they needed for their remote homesteads, the store began with the sale of the first retail solar panel in the United States and the humble goal of changing the world.

In September 2019, Real Goods was acquired by the altE Store. Now powered by altE, the Real Goods sales and customer support personnel continue to promote, sell, inventory, ship, and support solar energy solutions. Real Goods is Headquartered at 2005 N. State St., Unit G, in Ukiah, California. For more information visit their website at https://realgoods.com/ or call toll free at 800-919-2400.

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