SMP 144: Luxpower: Introduces its Innovative Inverter Technology to the US Market

Episode Summary In this episode, Benoy and his co-host, Andy Daniels, Head of Tech Support for the Americas at LuxpowerTek, delve into the fascinating journey of their Shenzhen-based solar and storage inverter manufacturing company as they establish a local team and services to 'back up the backup' in the competitive US market. Join them as they explore the unique aspects of the US market, including its stringent regulations, solar production bankability, and policy incentives such as the Inflation Reduction Act, which set it apart from other markets worldwide.   Benoy Thanjan Benoy Thanjan is the Founder and CEO of Reneu Energy and he is also an advisor for several solar startup companies.  He has extensive project origination, development, and financial experience in the renewable energy industry and in the environmental commodities market.   This includes initial site evaluation, permitting, financing, sourcing equipment, and negotiating the long-term energy and environmental commodities off-take agreements. He manages due diligence processes on land, permitting, and utility interconnection and is in charge of financing and structuring through Note to Proceed (“NTP”) to Commercial Operation Date (“COD”). Benoy composes teams suitable for all project development and construction tasks. He is also involved in project planning and pipeline financial modeling. He has been part of all sides of the transaction and this allows him to provide unique perspectives and value. Benoy has extensive experience in financial engineering to make solar projects profitable. Before founding Reneu Energy, he was the Environmental Commodities Trader in the Project Finance Group for SolarCity which merged with Tesla in 2016.  He originated SREC trades with buyers and co-developed their SREC monetization and hedging strategy with the senior management of Tesla to move into the east coast markets.  Benoy was the Vice President at Vanguard Energy Partners which is a national solar installer where he focused on project finance solutions for commercial scale solar projects.  He also worked for Ridgewood Renewable Power, a private equity fund, where he analyzed potential investments in renewable energy projects and worked on maximizing the financial return of the projects in the portfolio.  Benoy also worked on the sale of all of the renewable energy projects in Ridgewood’s portfolio.   He was in the Energy Structured Finance practice for Deloitte & Touche and in Financial Advisory Services practice at Ernst & Young.  Benoy received his first experience in Finance as an intern at D.E. Shaw & Co., which is a global investment firm with 37 billion dollars in investment capital. He has a MBA in Finance from Rutgers University and a BS in Finance and Economics from the Stern School of Business at New York University.  Benoy was an Alumni Scholar at the Stern School of Business.   LuxpowerTek In today's world, an increasing number of people recognize distributed energy storage systems as the ultimate solution for achieving energy independence. These cutting-edge systems empower users with energy freedom and help alleviate imbalanced energy transmission for power grids.  At LuxpowerTek, they stand at the forefront of this transformative industry. Backed by an experienced R&D team boasting over two decades of expertise, their unwavering commitment is to provide high-quality energy storage solutions tailored explicitly for residential users. They take pride in excelling in key areas, including intelligence, affordability, ease of installation, safety, and adaptability to diverse scenarios. These attributes position them as one of the most attractive choices available in the global solar and energy storage market today. In 2023, LuxpowerTek has gone the extra mile by establishing a local service and technology team in Chino Chill, California. This strategic move ensures that they offer “always accessible locally” service to clients and users. It reflects their commitment to maintaining a strong local presence, achieved through the establishment of dedicated teams and valuable partnerships with local experts, distributors, and installers.   HQ Website: https://luxpowertek.com US Website:  http://www.luxpowertek.us Facebook: https://www.facebook.com/LUXPOWERTEK   Andy Daniels Andy is the Head of Tech Support and training in the USA/North America and South Africa for Luxpower. His responsibility is to manage and set up a network of Tech Support for Luxpower in these regions using various communication channels. He is also the MD of Aspergo Energy Pty Ltd in South Africa, where we import and distribute Luxpower in southern Africa. Andy studied Mechanical Engineering and Design and started out as a designer. In 2001, Andy completed a Bachelor of Technology in Business Management and started Aspergo in 2008.   Stay connected: Benoy Thanjan Website: www.reneuenergy.com Email: [email protected] LinkedIn: Benoy Thanjan Facebook: Reneu Energy  Subscribe to our podcast + download each episode on iTunes, Podbean, YouTube, and most of the major podcast platforms. This episode was produced and managed by Podcast Laundry.