Spotlight 🔍 Stardust Solar Energy

Investors Bask in the Glow of Stardust Solar’s Sun-Powered Success

• With solar adoption set to triple by 2030, Stardust Solar is positioned to capture significant market share in a booming industry fueled by government incentives and rising energy costs.
• The company is set to launch $2 million in secured solar and energy storage projects this spring, spanning both residential and commercial sectors.
• Stardust Solar’s multi-channel revenue model drives its ambitious plan to expand beyond 100 franchise territories by year-end, reinforcing its growing footprint across Canada and the U.S.

“Every home in North America will be powered by solar energy with a battery bank within the next 30 years.”
— Mark Tadros, Chairman and CEO of Stardust Solar.

As utility costs surge and environmental awareness reaches new heights, homeowners are swiftly turning to solar power as a cost-effective and sustainable energy solution.

Once perceived as niche and expensive, solar energy is now at the forefront of the global energy revolution. According to the International Energy Agency (IEA), it is on track to become the world’s leading renewable energy source by 2029.

Riding this charge towards a cleaner energy future is Stardust Solar Energy Inc. (TSXV: SUN), which is transforming the North American renewable energy landscape with its innovative, scalable franchise model.

The company empowers entrepreneurs to capitalize on the booming clean energy sector, offering training and certification and a comprehensive suite of installation services for solar panels, energy storage systems, and electric vehicle charging solutions.

As a franchisor, Stardust Solar delivers far more than just a respected brand name.

It arms its partners with powerful business management tools and an elite portfolio of cutting-edge renewable energy products. Franchisees gain exclusive access to industry-leading Solar PV (Photovoltaic) equipment, state-of-the-art energy storage solutions, and next-generation electric vehicle supply systems.

Stardust Solar’s commitment goes beyond product access.

The company’s corporate headquarters serves as a powerhouse of expertise, providing franchisees with a full spectrum of essential business support. This includes strategic marketing campaigns, dynamic sales support, expert engineering services, customized plan sets, top-tier customer service, and streamlined project management solutions — ensuring long-term success in the rapidly expanding clean energy market.

Last December, Stardust acquired Solar Grids, a U.S.-based solar energy company, which has a well-organized franchise network and brand presence in Colorado, Iowa, Michigan, Nebraska, Ohio, and Pennsylvania.

This provided instant penetration into the U.S. market doubling the size of Stardust’s franchise network overnight. 

“We are now North America’s largest solar franchisor with 78 franchise territories across Canada and the United States,” said Mark Tadros, Chairman and CEO of Stardust Solar.

A passionate advocate for renewable energy, Tadros founded Stardust Solar in 2017 following two successful business exits — one in fantasy sports operations and another in dangerous goods transport education. In October 2024, Stardust Solar was listed on the TSXV.

Tadros said Stardust’s success is grounded in a multi-channel revenue model that involves training and certification, franchise fees and product, service and sales.

The Training and Certification program provides Stardust with an 80% gross margin revenue stream that builds an army of skilled solar professionals. The company now has a network of over 2,500 trained/certified individuals and franchisees across North America.

The Franchise Fee revenue stream is scaling rapidly with Stardust charging $50,000 per territory and a 5% royalty on annual revenues.

Stardust’s primary revenue driver, accounting for 70% of total revenue, comes from franchisees purchasing all equipment directly from the company, ensuring consistent, high-margin sales.

“We are focussed on residential and light commercial solar projects through a scalable franchise model that allows us to attack the solar market with a nationwide force. The residential market is key for us because the profit margins on residential solar are 25–30% whereas in the commercial solar market it is more like 5% margins,” said Tadros.

A combination of Stardust Solar’s multi-revenue model and aggressive market expansion is driving record-breaking growth, as reflected in the company’s latest financial results.

The company’s Q3 2024 performance shows revenue was $2,846,000 for the nine months ending September 30, 2024, representing a 52% increase for the same period in 2023. System-wide sales totalled $3.8 million for the nine months ended September 30, 2024, a 72% increase from $2.2 million for the same period in 2023.

Building on the momentum of a strong Q3 2024, Stardust Solar is setting ambitious growth targets for the future.

"In three years, our goal is to scale to 250–500 franchise locations across North America, generating $20 million in top-line revenue while maintaining positive EBITDA," said Tadros.

A Top Pick in Whistler

Stock Information TSXV: SUN

1. As of market close on Monday March 3, 2025
2. As of market open on Monday February 24, 2025 after being selected as a Top Pick at the CEM Whistler Capital Event

Following Stardust Solar’s recognition as a Top Pick, I caught up with Mark Tadros, Chairman and CEO, to explore the company’s rapid growth, expanding footprint, and its growing influence in the North American solar energy market.

How is Stardust Solar positioning itself at the forefront of the ongoing solar energy revolution, and what impact is it making in the industry today?

“The need for solar isn’t just about lowering electricity bills … it’s about energy security in an era of rising costs and grid instability.

Energy demand is surging at an unprecedented rate. The rapid electrification of vehicles, the expansion of AI, cryptocurrency mining, and the rise of robotics are placing immense strain on the grid. Simply put, the traditional energy infrastructure is struggling to keep up. This is where solar energy, paired with battery storage, becomes a game-changer. Unlike conventional energy sources, solar power is immune to inflation — once installed, it provides free, limitless energy.

Today, only 6% of U.S. homes and 2% of Canadian homes have solar installations. However, a U.S. Department of Energy study predicts that number will rise to 15% by 2030, signalling a near-tripling of demand in just five years. This rapid acceleration points to an imminent solar boom — one that Stardust Solar is positioned to lead.

Through a combination of organic growth and strategic acquisitions, we are expanding our market reach and strengthening our ability to capture a significant share of this surge. Our franchising model empowers aspiring entrepreneurs, providing them with the opportunity to own a business in the renewable energy sector while contributing to a cleaner, more sustainable future.

We don’t just aim to ride the solar energy wave … we want to lead it while driving increased shareholder value.”

Can you share insights into Stardust Solar’s key strategic partnerships, acquisitions and initiatives that set it apart as a leader in the renewable energy sector?

“We’ve made it a priority to work with the most trusted names in solar and energy storage.

Stardust is Tesla-certified, and we’re proud to be one of the top Tesla Powerwall distributors in Canada that brings immense credibility to our energy storage solutions. Speaking of energy storage, the demand has been off the charts — our storage sales jumped 1,000% from 2023 to 2024 alone!

To ensure our team and franchisees are among the best-trained in the business, we’ve partnered with the Renewable Energy Technology Training Institute (RETTI) making our standards second to none. Further strengthening our commitment to education, we acquired the Canadian Solar Institute, which delivers comprehensive workshops and hands-on training for both grid-tie and off-grid solar PV system design and installation.

Our biggest move yet is the acquisition of Solar Grids, our largest U.S. competitor, which has doubled our franchise network, giving us instant major market access south of the border.

Stardust is not just about installing panels … it’s about making a real difference.

For every solar panel installed, we plant 10 trees. And for every student we certify, we plant 25. We’ve teamed up with Eden Reforestation to help restore forests in places like Haiti and Madagascar, where deforestation has had devastating effects.

So far, we have planted about 50,000 trees.

The company is also actively involved in microgrid and First Nations solar projects, providing not only installations but also training programs that provide jobs for local communities.”

What’s next for Stardust Solar?

“Right now, we have over $2 million in signed contracts for solar and energy storage projects, all set to launch this spring. And we’re growing fast … by the end of this year, we’re aiming for 100+ franchise locations. Within three years, we plan to hit 250–500 locations across North America. That translates to $20 million in top-line revenue with positive EBITDA.

The U.S. is a big focus for us, especially in Midwest states where solar adoption is just starting to take off. With government incentives and rising electricity costs, the timing couldn’t be better.

But we’re not stopping there … we’ve already prepared materials in Spanish to support our expansion into Latin America, making international growth a real possibility.

Our franchise model is what truly sets us apart. We are going to be the Mr. Lube of Solar.”

Our View

• Robust Financial Performance and Growth Trajectory
  Stardust Solar has demonstrated impressive financial growth, with revenues reaching $2.85 million for the nine months ending September 30, 2024 — an increase of 52% compared to the same period in 2023. This surge is primarily driven by a 129% increase in product sales and a 72% rise in system-wide sales, reflecting the successful expansion of its franchise network and the growing adoption of renewable energy solutions.
• Innovative and Scalable Franchise Model
  Stardust Solar's unique franchise approach empowers entrepreneurs to enter the renewable energy sector with minimal upfront investment. With an initial investment of $50,000 and a 5% royalty fee, franchisees gain access to comprehensive training, exclusive partnerships, and ongoing support. This model has propelled Stardust to become North America's largest solar franchisor, boasting 78 franchise territories across Canada and the United States.
• Strategic Partnerships and Market Expansion
  The company's strategic alliances, such as being a certified Tesla Powerwall installer, enhance its credibility and market reach. The acquisition of U.S.-based Solar Grids has doubled Stardust's franchise network, providing immediate access to key U.S. markets. These initiatives position Stardust Solar to capitalize on the increasing demand for renewable energy solutions, driven by rising utility costs, government incentives and heightened environmental awareness.

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Warm Regards and Happy Investing,
Fabian Dawson