Generac Holdings (GNRC) has been in business for more than 60 years and is one of the largest manufacturers of a very boring, old economy, industrial piece of equipment: backup generators, asserts Tony Sagami, editor of Weiss Ultimate Portfolio.
The brownouts in California and across the south has awoken homeowners to the necessity of backup power. But GNRC is taking backup home power generation to Tesla-type heights.
GNRC provides backup battery systems that can not only power a home during blackouts, but also include solar-powered energy storage systems capable of powering the power needs of an entire home.
GNRC makes generators that offer more power and higher storage capacity than its competition. The practical result is that a homeowner can sell excess power to his/her local utility.
Basically, he can turn his power into an income generator (pardon the pun) and become an electricity provider instead of an electricity consumer.
GNRC has a whopping 80% market share of the home standby generator market. But only 5% of U.S. homes have backup power systems, so the sky is the limit for growth.
Think of GNRC this way: Tesla (TSLA) has revolutionized the auto industry, bringing it into the 21st century, but Generac’s solar plus storage solutions are light years ahead of it.