Shoals Technologies designs and manufactures electrical balance of systems (EBOS) — the wiring, connectors, combiners, and related components that form the electrical backbone of utility-scale solar projects. Shoals' core product is the Big Lead Assembly (BLA), a patented above-ground aluminum trunk cable system that replaces traditional individual wire runs to combiner boxes, reducing wire runs by up to 95%. BLA is designed for general labor rather than licensed electricians, uses aluminum instead of copper, and cuts installation time — all of which lower total installed cost for customers. Shoals sells primarily to EPCs, the contractors who build utility-scale solar projects, though developers and project owners often influence product selection given the mission-critical nature of EBOS. Shoals uses a consultative sales model, working directly with developers, EPCs, and engineers through the design and specification process. Revenue is driven by U.S. solar construction volumes, Shoals' share of each project, and product mix — full BLA system solutions carry higher margins than individual components. Beyond its core business, Shoals is expanding into battery energy storage systems (BESS), including solar-plus-storage, grid firming, and data center power applications. Shoals also sells into smaller-scale commercial and industrial solar projects, manufactures junction boxes for First Solar as an OEM customer, and is building an international presence in Australia, Latin America, and EMEA.