SMP 23: Community Solar 101 with Suzanne Waters

Episode Summary   Benoy and Suzanne discuss Community Solar and why this is an exciting area for renewable energy. From the challenges of contract tenure to providing access for low to moderate income housing, this is an area you should expect to see significant expansion. Expect to gain real insight and understanding of community solar.   About our Guest: Benoy Thanjan Benoy Thanjan is the Founder and CEO of Reneu Energy and he is also an advisor for several solar startup companies. Reneu Energy is a premier international solar energy consulting firm and developer and the company focuses on developing commercial and industrial solar and utility scale solar plus storage projects. The company also sources financing for solar projects and hedges energy and environmental commodities. Reneu Energy has brokered $27 million in environmental commodities transactions. 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. Before founding Reneu Energy, he was the SREC 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 SolarCity to move into the east coast markets. Benoy also worked at Vanguard Energy Partners, Ridgewood Renewable Power, and Deloitte & Touche. Suzanne Waters Suzanne Waters is an experienced solar professional with a broad knowledge of the industry, including project development administration, marketing best practices, financial strategy, and team leadership. Before joining Reneu Energy, Suzanne worked as the Business Development Manager and Proposal Team Leader at Vanguard Energy Partners, a national solar developer, and their affiliate firm, Vanguard Energy Capital. She oversaw proposal development and contract execution, and collaborated on structured finance for large scale, multimillion-dollar projects. In addition, Suzanne has extensive experience in many aspects of the PV industry, with unmatched enthusiasm for its capabilities and  a BA in Economics from Rutgers College at Rutgers University. Insight from this Episode   How to share in the benefits of community solar projects without owning or developing your own project. Why community solar should get everyone excited about solar. How community solar is becoming more readily available for low to moderate income households. How community solar has been affected by different challenges. How community solar, net metering and credits work together. Quotes from the show: ·In regard to 100% renewable energy goals, “I think what we’ve seen are the challenges related to policy that’s able to move as quickly as the goals of the state.” Benoy Thanjan, Episode #23. “Community Solar is one of the fastest growing sectors of the industry.” Benoy Thanjan, Episode #23. “Community solar allows you to buy credits through virtual net metering from a solar project…it’s definitely access to provide solar in a way that hasn’t been there before.” Benoy Thanjan, Episode #23. “The challenge for community solar has been finding financing parties that are comfortable with the lesser tenure of a contract.” Benoy Thanjan, Episode #23. In regard to different structures of community solar: “The most popular structure is the subscription-based model, which is easier to structure and less expensive.” Benoy Thanjan, Episode #23. “Virtual net metering is what allows a household or business to receive the net metering credits associated with a net metering project that they don’t actually share an electricity meter.” Suzanne Waters, Episode #23. “You don’t have to own the project to share in the credits.” Suzanne Waters, Episode #23. “Community Solar is taking solar to the next level, where it really should be available to the masses. So if community solar doesn’t get everyone excited about solar, I don’t know what will!” Suzanne Waters, Episode #23. “Carpe Solem (Seize the Sun)” Suzanne Waters, Episode #23. Benoy Thanjan LinkedIn.com/bthanjan www.reneuenergy.com [email protected] Facebook: Reneu Energy Suzanne Waters: www.reneuenergy.com [email protected] Facebook: Reneu Energy [email protected] Linkedin: Suzanne Waters