The merger will create the largest privately held residential solar company in the US. Image: Pete Jelliffe / Flickr

Residential solar companies Vision Solar and Zing Solar announced a merger on Tuesday that will create a new combined entity — ION Solar.

The merger will create the largest privately held residential solar company in the US.

Matt Rasmussen, CEO of Vision Solar, said: "Homeowners will benefit as ION Solar realizes significant economies of scale, reducing equipment and operational costs, and giving homeowners access to additional financing and enhanced solar options. There's an excitement and enthusiasm here that's not only contagious, it's very fulfilling. We're doing great things and the coming together of two incredible solar companies, hundreds of passionate team members, and thousands of solar customers strengthens our ability to positively impact the environment with clean solar energy.”

The merger deal is expected to be completed before the end of 2016 — allowing both companies to launch growth initiatives for the new year.

Jimmy Slemboski, Zing Solar president, added: "Zing Solar and Vision Solar have always shared a singular vision that's been evident in the record growth of our two companies and the thousands of satisfied families who've switched to solar, lowered their bills, and reduced their carbon footprint.

“The triple-digit growth we've experienced since inception at Zing has been continued validation that homeowners want the highest-quality equipment on their home when they choose solar and they value a sincere, personal approach to their customer service experience. Vision has always mirrored that attention to detail, quality, transparency, and loyalty to customers.”