Genie Energy Ltd. is a provider of energy services, operating primarily as a retail energy provider in deregulated markets across the United States. The company's business model is divided into two main segments: Genie Retail Energy (GRE) and Genie Renewables (GREW).
The GRE segment is the company's core business, accounting for approximately 95% of total consolidated revenue. Through GRE, Genie Energy purchases electricity and natural gas in the wholesale markets and resells them to residential and small business customers. In 2024, electricity sales generated roughly 87% of GRE's revenue (and over 82% of total company revenue), while natural gas sales accounted for the remainder. The company services hundreds of thousands of meters, offering both conventional and renewable electricity options, as well as carbon-offset natural gas.
The Genie Renewables (GREW) segment represents the company's operations in the solar energy sector. This division focuses on the development, construction, and operation of commercial, community, and utility-scale solar energy projects. It also includes Diversegy, a commercial energy brokerage and advisory service, and operations related to solar panel distribution and project management. Genie Energy utilizes the cash flow generated from its retail energy business to fund its expansion into renewable energy generation and services.
