Solar Maverick Podcast

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The Solar Maverick Podcast is the insiders guide to where the solar and energy markets meet entrepreneurship and trailblazing. Hosted by Benoy Thanjan - a serial entrepreneur and founder of Reneu Energy

Episodes

Tuesday Apr 14, 2020

SMP 71: Guest Episode - Renewable Energy Goals - Benoy Thanjan on the Create Your Life Series

Tuesday Apr 14, 2020

Episode Summary

This episode of Create Your Life Series will motivate you to make and keep your resolutions this year. Kevin talks with Benoy Thanjan, owner of Reneu Energy, about his path to entrepreneurship in the solar energy industry and his passion project, the Solar Maverick podcast. Benoy and Kevin look back on their journeys over the past year and discuss what it takes to be successful in entrepreneurship, podcasting, and life.

Benoy Thanjan

Benoy Thanjan is the Founder and CEO of Reneu Energy, as well as 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, as well as utility-scale solar plus storage projects. The company also sources financing for solar projects and hedges both energy and environmental commodities. Reneu Energy has brokered $27 million in environmental commodity 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.

Kevin Y. Brown

Kevin Y. Brown is a National Association of State Boards of Accountancy (NASBA) Center For Public Trust (CPT) “Being A Difference” award recipient, international speaker, entrepreneur, and author. The former MTV Networks host and NYC fashion marketer has created an international following as a speaker on personal excellence, effective communication, and leadership. Kevin has been featured by Black Enterprise magazine as a “Modern Man of Distinction” and highlighted in various publications for his self-help speaking work and helping students graduate college debt-free. Recognized for his commitment to empowering foster care youth and as a foster care system alumnus, he has also delivered the keynote address at the International Foster Care Organizations Conference in Sydney, Australia, and Osaka, Japan. Kevin is currently the creator/host of Sirius XM’s “Create Your Life” series, a fellow in the New York Chapter of the Startup Leadership Program, and an active member of Kappa Alpha Psi Fraternity, Inc.

Insights from this episode:

Details on Reneu Energy, how the company became involved with Solar Renewable Energy Credits (SRECs), and how states are employing them to incentivize solar development.
How to create a more eco-friendly lifestyle on a daily basis and incorporate renewable energy into any household.
Strategies on goal-setting, forming a work plan, and taking action steps to attain those goals.
How to create a successful podcast in a niche market, facing challenges, and making your own opportunities.
Details on how Benoy and Kevin became podcasters and what that process has taught them.

Quotes from the show:

“My first background in energy was at Deloitte & Touch and then I knew that renewable energy sustainability was my passion.” – Benoy Thanjan, Episode #172
“There’s a lot of exciting things that are happening with the (renewable energy) industry, specifically related to solar.” – Benoy Thanjan, Episode #172
On having a renewable lifestyle: “There’s the Three R’s that we could all incorporate into our whole lifestyle, which is Reduce, Reuse, and Recycle.” – Benoy Thanjan, Episode #172
On what it takes to become an entrepreneur: “A lot of time, in pursuit of running your own company, it takes a while.” – Kevin Y. Brown, Episode #172
On entrepreneurship: “It’s not easy to just go (out) and then suddenly start a company and take that leap, it definitely takes time.” – Benoy Thanjan, Episode #172
On attaining goals: “Every day I come up with a task list… of what are the biggest things that are going to move the needle to get me closer to my goals.” – Benoy Thanjan, Episode #172
On making Solar Maverick: “It’s important to take the feedback that you get from the podcast but it’s also important to be what you wanted the show to be about.” – Benoy Thanjan, Episode #172
On listening to Solar Maverick: “Solar is here to stay and it is something that is becoming bigger and bigger and more a part of our daily lives and with that, we need to be informed and that’s why I tune in to the Solar Maverick podcast” – Kevin Y. Brown, Episode #172
On Kevin creating the Create Your Life Series: “It was being a professional speaker and I wanted a way to engage with my listeners and audience members on a continuous basis.” – Kevin Y. Brown, Episode #172
On what Kevin has learned through his guests on the Create Your Life Series: “You have to be bold and authentic and actually be doing what it is that aligns with you.” – Kevin Y. Brown, Episode #172

Resources mentioned

Solar Maverick with Benoy Thanjan

Create Your Life Series: Episode 134 with Kevin Y. Brown

How to Stop Worrying and Start Living by Dale Carnegie

Stay Connected:

Benoy Thanjan:

www.reneuenergy.com

www.linkedin.com/in/bthanjan/

Kevin Y. Brown:

www.kevinybrown.com

www.instagram.com/kevinybrown

www.twitter.com/kevinybrown

www.facebook.com/kevbrown001

Create Your Life Series:

https://www.facebook.com/cylseries/

https://www.instagram.com/cylseries/

Subscribe to our podcast + download each episode on iTunes, google play, stitcher and www.createyourlifeseries.com/podcast

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Mar 31, 2020

SMP 70: Insights and Perspectives from the CEO of Canadian Developer that is developing large number of solar projects in the US

Tuesday Mar 31, 2020

Episode Summary

In this episode of Solar Maverick, Manish Nayar, the founder and managing partner of OYA Solar, shares his entrepreneurial experience and perspective with Benoy and discusses how a Canadian company made its home in the United States solar market. Whether you are in the research stage or a veteran business owner, this episode is a ray of light for solar entrepreneurs.

Benoy Thanjan

Manish Nayar

Manish Nayar is the founder and Managing Partner of OYA Solar. Manish has led the growth of the company and its resulting 1000MW+ North American development pipeline. Manish has developed, constructed or transacted on over 500MW of solar assets in the last 10 years. Prior to OYA, Manish was with the investment banking group at Merrill Lynch & Co. where he focused on corporate finance, M&A and restructuring of companies in the diversified industrials group. Prior to Merrill, he was CEO of Judricks Enterprises Ltd, a global tier 1 supplier of powertrain and transmission components to the automotive and heavy equipment industries. He holds an MBA from the Kellogg School of Management with majors in Analytical Finance and Strategy as well as a B.E.Sc in Computer Engineering and a B.Sc in Applied Mathematics from the University of Western Ontario. He is also a licensed Professional Engineer in the Province of Ontario.

Insights from this episode:

Details on OYA Solar, the reason Manish founded the company, and what their plans are for future growth.
Benefits of not having a government-sponsored Investment Tax Credit.
Strategies for finding solar markets to focus on in the United States and where OYA Solar is developing projects.
How development in community solar and utility-scale projects have matured.
Benefits of extending access to the solar market to include low-to-moderate income (LMI) communities.
How OYA Solar approaches different solar trends, including storage and electrification targets.
Details on what it takes to be an entrepreneur in the solar industry and key traits that will help you succeed.

Quotes from the show:

On switching from Canada to a United States solar market: “We foreshadowed that the market would slow down and ultimately close as the government incentives were starting to step down pretty drastically. That’s when we pivoted to the US [United States].” 一 Manish Nayar, Episode #70
On the Investment Tax Credit: “If we’re putting the economics aside, I think it would be more beneficial for us, as developers and owners, but perhaps less-attractive for tax-equity investors.” 一 Manish Nayar, Episode #70
On OYA Solar’s projects in New York: “For us, we felt that size and the scale of the market were really attractive and we felt that we had a good differentiating factor in our development process.” 一 Manish Nayar, Episode #70
“I think developers have gotten much better at anticipating the needs of the community and the stakeholders.” 一 Manish Nayar, Episode #70
“It’s pretty amazing how the tenure [of solar contracts] has changed so quickly in such a short amount of time.” 一 Benoy Thanjan, Episode #70
On increasing solar access to the LMI [low-to-moderate income] community: “This is really democratizing solar for all of us and LMI [low-to-moderate income] is a key component to that so we think that we have to be part of the solution to solve it.” 一 Manish Nayar, Episode #70
“You pretty much do everything.” 一 Benoy Thanjan, Episode #70
“Community solar projects represent more near-term development for us and we think we can add a lot of value on the utility side, as well.” 一 Manish Nayar, Episode #70
On current trends in the solar market: “The biggest that we are seeing right now is storage. I really believe that storage prices are going to follow the same trend as module prices.” 一 Manish Nayar, Episode #70
“This is all exciting stuff. It’s basically disruption of the traditional electricity industry and it sounds like you guys are in the forefront with doing solar and storage.” 一 Benoy Thanjan, Episode #70
“As an entrepreneur, you have a vision for what you want your company to be and for what you want to do and I think, regardless of what you hear from other people, if you’re really committed and dedicated to it, you’ll make it happen.” 一 Manish Nayar, Episode #70

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

Manish Nayar

Email: manish.nayar@oyaventures.com

LinkedIn: Manish Nayar

Twitter: OYA Solar

Facebook: OYA Solar, Inc.

Website: https://oyaventures.com

Sponsor:

We would like to thank Schwerd Consulting for sponsoring this episode of the Solar Maverick Podcast.

Schwerd Consulting is a leading solar consulting firm dedicated to design, engineering, and owner representation in all areas of solar photovoltaics (PV) for the Commercial & Industrial and Utility markets.

At Schwerd Consulting they like to say that We Know Solar. We don’t just Do Solar. What sets them apart is their 100% focus on solar and understanding the business of their clients.

In its 5 years of business, Schwerd Consulting has provided services for approximately 450 MW of PV across over 330 sites and 15 states plus the Caribbean. That total includes 300MW of completed designs and engineering, and 150MW of consulting and owner rep services.

Let Schwerd Consulting take the burden off you and bring ease and expertise in all areas of Engineering & Design or help you navigate the technical world of solar.

If you are interested in learning more about Schwerd Consulting, you can call 215-219-6718 or email at admin@schwerdconsulting. Schwerd Consulting’s website is www.schwerdconsulting.com.

Steve Schwerd who is the Owner of Schwerd Consulting was interviewed on Episode 17 and Episode 48 of the Solar Maverick Podcast and Episode 42 of which he was on panel discussion on How Solar Technology is Changing the World.

They are involved with the trends, technologies, vendors, policies, utilities, codes, and financial considerations for the industry. Therefore, value add for them is not just a slogan, it’s what they practice in order to have loyal customers and gain trust.

Subscribe to our podcast + download each episode on iTunes, Podbean, and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Mar 17, 2020

SMP 69: Solar/Roof Integrated Funding Program

Tuesday Mar 17, 2020

Episode Summary

In this episode of the Solar Maverick, Benoy asks Daryl Pilon and Bob Burwasser about why roofing and solar are important and how roof restoration with solar allow more rooftop solar projects to be constructed. This discussion is an in-depth look at what roof restoration entails, what makes a good solar platform, and how the cost-saving benefits will last well into the future.

Benoy Thanjan

Daryl Pilon

Daryl Pilon is the Director of Business Development for Standard Solar, a vertically integrated commercial and industrial EPC company, providing superior solar energy solutions since 2004. Their goal is to invest their capital in new projects and drive the solar industry forward. Daryl comes from a background in engineering and worked on roofing systems before joining Standard Solar three years ago.

Bob Burwasser

Bob Burwasser has been in the commercial roofing business for 29 years and Regional Technical Manager for Everest Systems Co. Everest Systems Co. boasts over 30 years experience in the roof coatings industry.

Insights from this episode:

Strategies for evaluating what projects make good candidates for rooftop solar installations. – Daryl
Details on rooftop restoration versus roof replacement, what restoration entails, and how restoration helps to enable the solar industry. – Bob
How Power Purchase Agreements (PPAs) help non-profit organizations attain solar solutions.
Benefits of restoration and incorporating roof restoration and solar installation simultaneously.
How to match the solar array to the roof and ensure the installation does not void the roof warranty.

Quotes from the show:

On SMP 11: The Marriage of Roofing and Solar: Innovative and Economic Solutions: “It was a very popular podcast. We actually got a lot of great feedback about the integration of roofing and solar.” – Benoy Thanjan, Episode #69
“What we try to avoid is roof replacement which gets extremely costly.” – Bob Burwasser, Episode #69
On the liquid material employed in roof restoration: “It was initiated as a material in the New York World’s Fair in 1964, GE Silicones - the inventor of silicone - showcased the product in Flushing, New York, it’s been used ever since and seems to be exploding recently in the roofing marketplace.” – Bob Burwasser, Episode #69
“We can do it very cost-effectively and quickly by incorporating [roofing and solar] simultaneously.” – Daryl Pilon, Episode #69
“I think there are many, many companies and many, many roofs out there that are great possibilities for roof restoration and solar.” – Daryl Pilon, Episode #69
On restoration and installation benefits: “It’s the two coming together in one solution in the Power Purchase Agreement (PPA) that I think it’s a beautiful option for many clients.” – Daryl Pilon, Episode #69
On preparing roofs for solar: “I think a soft benchmark is 5 to 7 years old as a minimum, anything older than that and we would want to restore that roof and get them to a brand new 25-year warranty.” – Bob Burwasser, Episode #69
On roof replacement: “It’s a costly, time-consuming, disruptive procedure that has killed a lot of solar deals and that is something that, of course, we want to avoid, we want to enable more solar deals.” – Bob Burwasser, Episode #69
On roof restoration warranties: “You’re getting a superior warranty, you’re getting a superior product at a much lesser cost and when we incorporate that into Power Purchase Agreements (PPAs) it helps everybody.” – Daryl Pilon, Episode #69
“It really is the marriage of roofing and solar, the next level.” – Benoy Thanjan, Episode #69

Resources Mentioned:

SMP 11: The Marriage of Roofing and Solar: Innovative and Economic Solutions with Benoy Thanjan, Daryl Pilon and Bob Burwasser

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

Daryl Pilon

Cell Phone: 347-633-2502

Email: daryl.pilon@standardsolar.com

Website: www.standarsolar.com

LinkedIn: Daryl Pilon

Bob Burwasser

Office Phone: 212-689-4440

Cell Phone: 917-287-4370

Email: bburwasser@everestsco.com

Website: https://www.everestsystemsco.com

LinkedIn: Bob Burwasser

Sponsor:

We would like to thank Schwerd Consulting for sponsoring this episode of the Solar Maverick Podcast.

Subscribe to our podcast + download each episode on iTunes, Podbean, and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Saturday Feb 29, 2020

SMP 68: A great team and technology platform has allowed CleanCapital to increase substantially their ownership of solar assets

Saturday Feb 29, 2020

Episode Summary

In this episode of Solar Maverick, Jon Powers shares the origin story of CleanCapital and how they went from an idea to a start-up to a successful investment capital firm in clean energy. Jon discusses how CleanCapital studied what was working in other business sectors to create an internal technology platform to identify and acquire clean energy assets, underwrite them efficiently, and bring new capital into the clean energy market.

Benoy Thanjan

Jon Powers

Jon leads corporate strategy, operations, investor relations, and marketing for CleanCapital. He is a clean energy and national security expert committed to making clean energy accessible to everyone.

Prior to joining CleanCapital, Jon led public sector business development at Bloom Energy. His passion for clean energy stems from his time serving with the U.S. Army in Iraq, where he learned how vital clean energy is in protecting America’s national security. He helped to revolutionize the U.S. Army’s energy program, first as Special Adviser for Energy to the Assistant Secretary of the Army and later as Director of Outreach for the Army’s Energy Initiatives Task Force. In 2012, Jon was appointed to the post of Federal Chief Sustainability Officer by President Obama. Jon is a graduate of John Carroll University and Johns Hopkins University.

He was named to Washington Life’s Top 25 Tech Leaders in D.C., 2016 and Renewable Energy World’s inaugural Solar 40 Under 40 list.

Insights from this episode:

How to use technology to bring efficient solutions to the clean energy sector by analyzing what has worked in other industries such as real estate.
How to create a technology platform that provides value, expedient execution, and workflow solutions.
Strategies for managing challenges in entrepreneurship and creating a successful company.
Details on how CleanCapital continues to make adjustments to their business model to open new opportunities for investment.
Strategies for attracting investors that were not previously interested in the solar energy market.
Details on the types of projects CleanCapital focuses on, what an ideal project looks like for them, and trends they are seeing in the solar financing industry.
Details on Jon’s experience in the Army and how that led him into the clean energy sector, becoming a member of Operation Free and working for the White House under President Obama.

Quotes from the show:

On working with partners in clean energy: “We don’t just acquire the assets, we actually stay in and actively manage them on behalf of our partners. What we’ve done really well, to date, is our ability to really efficiently and quickly underwrite and close deals.” – Jon Powers, Episode #68
“We have a very clear underwriting process that’s enabled by technology so we are able to move as fast as the seller.” – Jon Powers, Episode #68
“What is unique about our technology is that we didn’t try to overly engineer a perfect solution, we built what we needed to execute.” – Jon Powers, Episode #68
“Technology aside, the thing we do best is just [having] a really great culture and great teammates that are mission-driven.” – Jon Powers, Episode #68
On preferred projects: “We love to be able to do the transaction directly with the seller because it brings efficiency, it cuts out the middleman, and [the seller] can get more out of the deal when they are not paying an advisor.” – Jon Powers, Episode #68
“The longer the contracted period, the better for the economics of the project.” – Benoy Thanjan, Episode #68
“Our biggest strength is our ability to transact and to do it quickly.” – Jon Powers, Episode #68
“It’s important to have a good reputation in [the clean energy investment] space because it’s not a huge market.” – Jon Powers, Episode #68
On creating the Experts Only podcast: “What I wanted to focus on was the intersection of energy, innovation, and finance.” – Jon Powers, Episode #68
On how corporations are influencing the renewable energy market: “It’s interesting how [corporations] are actually creating opportunities and demanding access to renewable energy which is then allowing the states and utilities to change to be able to get that business.” – Benoy Thanjan, Episode #68
On successful entrepreneurship: “Everything is going take way longer than you think it will, you can’t do it all yourself, you need to think about how to build-out a good team and be willing to follow the path that the market sends you on.” – Jon Powers, Episode #68

Resources Mentioned:

CleanCapital Experts Only podcast hosted by Jon Powers

SMP 14: How Institutional Investment Capital is Transforming the Renewable Energy Market with Thom Byrne with Benoy Thanjan and Thom Byrne

Operation Free is a coalition of veterans and national security experts who believe oil dependence and climate change pose threats to our national security and advocate for securing America with clean energy.

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

Jon Powers

LinkedIn: Jon Powers

Website: CleanCapital

Twitter: @CleanCapital_

Sponsor:

We would like to thank Schwerd Consulting for sponsoring this episode of the Solar Maverick Podcast.

Subscribe to our podcast + download each episode on itunes, Podbean and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Feb 18, 2020

SMP 67: Investor/Developer's Perspective on the Indian Solar Market and Other International Markets

Tuesday Feb 18, 2020

Episode Summary

In this episode of the Solar Maverick Podcast, Kushagra Nandan provides a unique international perspective on the solar industry that comes from his early days in the United States solar market, starting his company, SunSource, in India, and his experience working on over 300 solar projects across many countries throughout India, Asia, and Africa. While talking about his journey with SunSource, Kushagra gives an in-depth overview of the entire Indian solar market from its inception to its future.

Benoy Thanjan

Kushagra Nandan

As Co-Founder and President of SunSource, Kushagra has guided the company’s strategy, project execution, technology and engineering efforts, with a primary focus on client-specific solar solutions and international market development. He has played an active role in helping shape SunSource’s offerings for domestic and international markets. Kushagra has pioneered efforts towards providing end-to-end engineering solutions beginning from initial scoping and capacity building to actual project design, engineering, supervision, and construction. Kushagra is actively engaged in building the capability to handle a challenging portfolio of solar projects and focused on deeply entrenching the philosophy of minimizing the Levelized Cost of Energy (LCOE).

Kushagra brings a vast amount of experience in leading teams that have developed, designed and installed multi-megawatt solar PV projects. Prior to SunSource, Kushagra worked with global solar majors including SunPower and GE. As one of the core members of the SunDurance Energy team, he led the technical group and helped grow the team and capability to develop, engineer-build projects ranging from 100’s kilowatt to multiple megawatts. Kushagra has also had roles at New Energy Options, Inc., AstroPower Inc. (currently GE Energy), and the Center for Sustainable Energy at the University of Massachusetts.

Kushagra holds a Master’s degree in Solar Energy Engineering from the University of Massachusetts. He also holds a Bachelor’s Degree in Electrical Engineering from Manipal Institute of Technology. Kushagra has also successfully completed a Solar PV Technology Assessment Certification from Florida Solar Energy Center & Villanova University along with Electrical Safety for Qualified Electrical Workers Certificate from Louisiana Tech University. He is a Lifetime Member of the Solar Energy Society of India and was a member of the interconnection group at the Mid-Atlantic Solar Energy Association to assist New Jersey’s Board of Public Utilities to help define State’s solar policy implementation.

Insights from this episode:

Details on SunSource, their future growth plans, and ownership targets that will allow further international expansion.
Strategies for deciding what solar projects SunSource invests in and, more importantly, when and where to invest.
Details on the similarities and differences between the solar markets in the United States and India.
How to bring more solar projects into the Indian ecosystem to reduce the dependence on diesel fuel in the commercial/industrial market.
The secret to generating repeat business and being a successful entrepreneur.

Quotes from the show:

“Similar to the US [United States], every state here in India has its own regulatory guidelines even though there is a full perspective on the federal side.” – Kushagra Nandan, Episode #67
On working in the United States solar market: “Virtually in front of my eyes, I saw how the whole market started evolving and the financing started coming in.” – Kushagra Nandan, Episode #67
On the changing solar market in the United States: “I remember doing a 500-kilowatt project in 2005 (in) Atlantic City [New Jersey] and making the national news and now nobody talks about a 500-kilowatt project. Even a 500-megawatt project barely makes the news.” – Kushagra Nandan, Episode #67
“India, over the last so many years, has become one of the leading consumers of solar power.” – Kushagra Nandan, Episode #67
On solar trends in India: “What we are seeing, additionally, is now solar plus storage is starting is starting to take shape.” – Kushagra Nandan, Episode #67
“Your reputation is only as good as your last project, so you don’t take it easy, you keep on delivering.” – Kushagra Nandan, Episode #67
Benoy summarizing SunSource’s success: “The goal, eventually, was always to finance the projects and then once financing was available it seemed to really scale with the right partnerships and the right people.” – Benoy Thanjan, Episode #67
On entrepreneurship: “It doesn’t matter if you win or if you lose, you definitely learn a lot.” – Kushagra Nandan, Episode #67
On entrepreneurship: “Everyone should try it out. It’s an experience and you learn a lot from it because you’re required to wear a lot of different hats.” – Benoy Thanjan, Episode #67
On the international solar market: “It’s still very early so there is plenty of opportunity, especially in the Indian market.” – Benoy Thanjan, Episode #67

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

Kushagra Nandan

Email: knandan@sunsource-energy.com

LinkedIn: Kushagra Nandan

Website: sunsource-energy.com

Sponsor:

We would like to thank RadiantREIT for sponsoring this episode of the Solar Maverick Podcast.

RadiantREIT is the first-ever investment trust to bring mortgage REITs to the solar energy market.

For the solar developers and EPC developers out there, financing with RadiantREIT’s solar mortgage REIT will transform how you think about the business of project development. With RadiantREIT financing, you can increase project cash flow and you can retain ownership of your projects.

The company’s cradle-to-grave financing package includes the entire capital stack. RadiantREIT arranges tax equity, 100% construction financing and up to 99% term financing at competitive rates with no upfront fees including legal and diligence!

Co-Founders Jim Spano and Jeff Just are solar and finance veterans who have brought together a team of experts to create and offer this innovative financing model enabling developers to capture the true value of their development. They are committed to addressing the financing gaps that exist in today’s market, especially for small and mid-sized developers. RadiantREIT will remove the stress of financing or refinancing, and allow you to maintain focus on your projects. Let them be your outsourced, structured finance department.

Visit www.radiantreit.com to learn more and to submit your expression of interest form today.

Subscribe to our podcast + download each episode on itunes, Podbean and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Feb 04, 2020

SMP 66: How Relationships Allow an Investor to Scale Ownership of Solar Projects

Tuesday Feb 04, 2020

Episode Summary

In this episode of Solar Maverick, Rich Walsh shares his journey to founding Madison Energy Investments with his two other partners, why Madison Energy Investment focuses on the Commercial and Industrial (C&I) solar market, and their goal of owning solar projects in every state. The overall discussion is a very high-level look at trends in the solar industry, the complicated financing of solar projects, and where to continue to find value in solar sectors.

Benoy Thanjan

Richard Walsh

Rich oversees all activities relating to business development and strategy at Madison Energy Investments. This includes project origination, new market analysis and partner and customer relations. Rich spent 5 years at WGL Energy where he led business development activities related to solar. He originated over $300 million of projects across dozens of state markets with clients ranging from the federal government to professional sports teams. Rich also previously worked in renewable energy advisory with Sterling Planet. Rich currently serves as the US Representative for the World Energy Council’s future energy leaders programme. He graduated with a Bachelor of Science from Samford University.

Insights from this episode:

Details on how Madison Energy Investments was founded, the partnerships they formed, and the role they play in the solar investment industry.
How to differentiate your company using diversity, assuming risk, and adding value.
Benefits of building strong, long-term relationships with developers of solar projects.
Details on community solar projects and other solar programs across the United States that Madison Energy Investments is involved with.
Secret to creating a strong business brand in a specialized market by identifying where that market has the most need.
Benefits of creating many good partnership opportunities instead of focusing on only one large scale opportunity.

Quotes from the show:

On the company motto Certainty, Speed, and Trust: “It’s to remind us that every time we introduce ourselves to someone we truly mean we are going to do exactly what we tell you we are going to do and we’re going to do it fast.” – Richard Walsh, Episode #66
“The only way to get [larger scale projects] is to aggregate, the only way to aggregate is to have a team that understands what they’re doing, that has experience, and the only way to find the deals is to have long-term relationships.” – Richard Walsh, Episode #66
On what makes Madison Energy Investments successful: “The whole key is being able to aggregate and manage assets effectively, which we have shown we can do both of those.” – Richard Walsh, Episode #66
“We hope to be in every single state at some point and we will probably be in 20 by the end of next year (2020).” – Richard Walsh, Episode #66
On the challenges faced by smaller solar energy firms: “It’s very difficult if you’re not one of these large energy companies that has a very experienced energy department, to understand the contracting [for solar financing]. It’s very difficult to get renewable energy.” – Benoy Thanjan, Episode #66
On being in the Commercial and Industrial (C&I) market: “There is this massive disconnect, this massive gap between community solar and utility-scale [projects] that is rife with opportunity.” – Richard Walsh, Episode #66
On the importance of diversified partnerships: “If you work with one partner and do one deal you’re losing money as the owner and operator.” – Richard Walsh, Episode #66
“Always the first transaction is the hardest to close and then it becomes more scalable [with] more transactions.” – Benoy Thanjan, Episode #66

Resources Mentioned:

5 Observations on the Commercial Solar Market by Richard Walsh for GreenTechMedia

Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel

Transition Renewable Energy Credit Program (TREC)

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

Richard Walsh

Email: rwalsh@madisonei.com

LinkedIn: Richard Walsh

Website: Madison Energy Investments

Sponsor:

We would like to thank Silverline Communications for sponsoring this episode of the Solar Maverick Podcast.

Sillverline Communications, an integrated marketing and PR agency focused on clean and emerging tech, is headquartered in DC with satellite offices in Chicago and Salt Lake City.

What defines them? They are: Independent. Agile. Absolutely invested in their clients and their teams.

They are storytellers and connectors at heart, grounding programs with insights to achieve real business objectives and shape outcomes that influence markets and policy. They use every tool in the communication arsenal to translate complex ideas into breakthrough campaigns that drive stakeholder action. The team that gets it done? Silverline Communications. Strategic, smart professionals with unrivaled expertise in energy, policy and emerging technologies.

In short: They know their stuff.

They believe in what they do. They believe in what their clients do. When their clients succeed, the world is a better place.

To learn more about Silverline, go to teamsilverline.com. You can reach Silverline at 703-286-5500 or info@teamsilverline.com.

Subscribe to our podcast + download each episode on itunes, Podbean and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Jan 28, 2020

SMP 65: 20 Year Solar Veteran and Entrepreneur Provides Perspective on the Solar Market

Tuesday Jan 28, 2020

Episode Summary

In this episode of Solar Maverick, David Buckner recounts how and why he left the world of finance to start Solar Energy Systems, a full-service solar energy company that has become a leader in the Northeastern solar market. David and Benoy talk about specialization in the solar industry, how to grow as a company in an evolving industry, and what they both love about the solar market.

Benoy Thanjan

David Buckner

As a founding member of Solar Energy Systems (SES), David has been with the company since its inception in 1998. His first two years building SES were spent after-hours “moonlighting” on his day job. He’d been a government bonds broker for a Wall Street brokerage firm and enjoyed most of it, but yearned for more diversity in his daily activity, including time outside, and he discovered he loved being up on the roofs. So he quit his Wall Street gig in 2000 to dedicate everything to SES.

Today as President, David does everything from meeting with clients and vendors to taking a delivery if no one is available or if he just needs some exercise. He thinks longevity in the solar industry is an asset: “I’ve seen many ups and downs as the industry has grown from a heavily subsidized start-up to what is increasingly becoming a mature space. I respect the effort it takes to organize people and get projects constructed. And I enjoy developing new opportunities, but it's really about executing for the clients who have already committed to working with us.” He believes that life is a team sport.

David has a Bachelor of Science in Finance from Fordham University and is certified by the North American Board of Certified Energy Practitioners (NABCEP). He was actually one of the first to take and pass the test back when NABCEP began testing in 2004.

David has 5 bikes and 4 BMX scooters — he likes to take clunkers and put minimal cost and effort into making them rideable.

Insights from this episode:

Details on Solar Energy Systems’ early decision to focus on the commercial/industrial sector of the solar energy industry over the residential solar energy sector.
Details on the challenges of installing solar panels in New York City.
How to determine good business opportunities for Solar Energy Systems and how they take advantage of those opportunities.
Benefits of creating a business plan in the changing solar market that allows for adjustment and provides the most value.
Strategies for becoming an entrepreneur in general and specific advice for gaining entry into the solar market.

Quotes from the show:

On Solar Energy Systems’ decision to focus on commercial solar energy: “It just became more interesting and more fun for us to figure out how to do larger projects and work together as a small team.” – David Buckner, Episode #65
“Our bread and butter is still the commercial rooftop, but we are moving a little bit into the larger ground mount [solar] sector as well.” – David Buckner, Episode #65
“There’s a lot of challenges in New York City from a physical perspective, but there is as much support here as anywhere.” – David Buckner, Episode #65
“There is so much opportunity in so many different [areas] now in the [solar] industry that you could focus on … it can be overwhelming.” – Benoy Thanjan, Episode #65
On writing a business plan in an evolving solar industry: “Plans are made to be changed.” – Benoy Thanjan, Episode #65
“That’s one thing I like about the [solar] industry, it’s growing and evolving.” – David Buckner, Episode #65
David’s advice for solar entrepreneurs: “I think that you need to segment and specialize, whether that’s engineering, development, installation work, financing … everybody is trying to throw their money into [the solar] industry.” – David Buckner, Episode #65
“What I love about the [solar] industry … is everything is changing so quickly and there is no typical day and it’s growing so exponentially. And it’s becoming more mature, but I think that we are still in the early stages of the solar industry.” – Benoy Thanjan, Episode #65

Resources Mentioned:

Long Island Power Authority (LIPA)

Partnership Fund for New York City

City University of New York (CUNY)

Solar Renewable Energy Credit (SREC)

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

David Buckner

Email: info@solaresystems.com

LinkedIn: David Buckner

Website: Solar Energy Systems

Sponsor:

We would like to thank Schwerd Consulting for sponsoring this episode of the Solar Maverick Podcast.

At Schwerd Consulting they like to say that We Know Solar. We don’t just Do Solar. What sets them apart is their 100% focus on solar and understanding the business of their clients.

In its 5 years of business, Schwerd Consulting has provided services for approximately 450 MW of PV across over 330 sites and 15 states plus the Caribbean. That total includes 300MW of completed designs and engineering, and 150MW of consulting and owner rep services.

Let Schwerd Consulting take the burden off you and bring ease and expertise in all areas of Engineering & Design or help you navigate the technical world of solar.

If you are interested in learning more about Schwerd Consulting, you can call 215-219-6718 or email at admin@schwerdconsulting. Schwerd Consulting’s website is www.schwerdconsulting.com.

Subscribe to our podcast + download each episode on itunes, Podbean and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Jan 21, 2020

SMP 64: How Solar is Powering Extra Space Storage.

Tuesday Jan 21, 2020

Episode Summary

In this episode of Solar Maverick, Nathan Vasher discusses how Extra Space Storage is one of the biggest corporate users of solar energy and how they plan to continue growing their solar deployment and also employing energy-conscious initiatives. Nathan also shares his path to solar, trends he’s excited about, and an energy future that looks very bright.

Benoy Thanjan

Nathan Vasher

Nathan Vasher is the Manager of Solar at Extra Space Storage, a publicly-traded company on the New York Stock Exchange (NYSE) and the Standard & Poor 500 (S&P 500). It is a fully-integrated, self-administered, self-managed real estate investment trust. Extra Space has properties in 40 states, Washington DC, and Puerto Rico, they own or operate over 1,800 stores comprising approximately 1.3 million units and 135 million square feet of rentable space. Extra Space has become one of the largest corporate users of solar energy according to rankings realized by the Solar Energy Industries Association (SEIA). The trade group ranked Extra Space in tenth place in terms of the number of solar installations.

Nathan has 7 years of professional client-facing experience working with public sector, non-profit and international clients through all phases of organization development; providing strategy, performance management, measures development, process improvement, change management, training and business process design services. He has experience providing technical support to advance health programs in the area of supply chain management working in multiple countries including The Netherlands, South Africa, Rwanda, the Democratic Republic of the Congo, Nigeria, Cote D'Ivoire, and Switzerland.

Insights from this episode:

Details on Nathan’s role as Manager of Solar at Extra Space, the history of the company’s solar program strategy, and how that strategy has advanced over the years.
How Extra Space determines what properties to install solar.
How Extra Space runs RFP process with preferred vendors on properties to determine where to install solar.
Why Extra Space has a preference toward owning the solar projects on their properties.
How Nathan uses Extra Spaces’ past successes to guide where they invest in new solar properties.
Strategies to plan for the future when you are dealing with older properties and the inevitable repairs they will need.
Benefits of employing energy-saving initiatives including increased energy efficiency and cost-saving.
Details on the step-down of the Investment Tax Credit (ITC), how states are creating their own renewable energy incentives, and how that affects the viability of future solar development.

Quotes from the show:

On the financial feasibility of solar projects: “That’s something that we are always looking at, how do we get the most value for the capital that we spend and solar, up to this point, has been a huge return on our investment.” – Nathan Vasher, Episode #64
“Our wholly-owned [business] portfolio is really simple, if we see an opportunity to put solar on a property, we just move forward with it because we don’t need anyone’s permission.” – Nathan Vasher, Episode #64
On creating partnerships to further the solar program at Extra Space: “We’re just in the nascent stages of really trying to figure out what is best for each of our partners and how we work together with them to do solar [projects].” – Nathan Vasher, Episode #64
On preparing for the future of older properties: “We plan that in some point in the life of the solar [installation], the roof is going to have to be fully replaced.” – Nathan Vasher, Episode #64
On the biggest challenge of older properties: “Trying to find the right mix, on some of the older properties, of how we can really get the biggest bang for our buck without having to really bend over backward to configure the system.” – Nathan Vasher, Episode #64
“One of the biggest challenges we have is getting the right-sized [solar] system for the property.” – Nathan Vasher, Episode #64
“The biggest benefit to going solar is the cost savings of using solar and not having to pay [for energy].” – Benoy Thanjan, Episode #64
“We’re just going to keep going until we run out of roofs.” – Nathan Vasher, Episode #64
“From where I sit, combining solar and storage is a huge opportunity … I think it’s going to be a trend, coupling power plus storage.” – Benoy Thanjan, Episode #64

Resources Mentioned:

Solar Renewable Energy Credit (SREC)

Request for Proposal RFP

The Investment Tax Credit (ITC)

Sponsor:

We would like to thank RadiantREIT for sponsoring this episode of the Solar Maverick Podcast.

RadiantREIT is the first-ever investment trust to bring mortgage REITs to the solar energy market.

Visit www.radiantreit.com to learn more and to submit your expression of interest form today.

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

Nathan Vasher

Email: nvasher@extraspace.com

LinkedIn: Nathan Vasher

Website: Extra Space Storage

Subscribe to our podcast + download each episode on itunes, Podbean and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Jan 14, 2020

SMP 63: 2020 Solar Predictions and Trends

Tuesday Jan 14, 2020

Episode Summary

In this episode of Solar Maverick, Benoy and Li look into the future and define trends in solar energy. Community Solar Programs will continue to rise in popularity along with energy storage and favorable state level renewable energy legislation. Benoy and Li conclude the interview with a personal look toward 2020 and how they stay focused and mindful throughout the year.

Benoy Thanjan

Li Wang

Li Wang is a life-long journalist and communications professional. He worked as an intern for the Philadelphia Daily News, during the summer of the O.J. trial, and has since had some fascinating jobs, from being a business reporter to an arts editor, to a film critic. He has since shifted his focus to digital marketing and creative services, and now his company, MJ Wang Media, develops brand messaging and identity through website design and content marketing.

Insights from this episode:

Benefits from the cultural shift of society regarding renewable energy and climate change that is emerging.
Defining the Virtual Power Purchase Agreement (VPPA) and a how that is allowing significant development of solar
Details on the risks associated with corporate Power Purchase Agreements (PPAs) and opportunities that will exist in the future for smaller companies.
Benefits of incentive programs and how they can help produce more solar energy.
Details on Green Tariff Programs that utility companies offer customers the ability to purchase green energy.
Benefits of using bifacial solar modules
How tariffs on solar panels impacted the solar market.
Benoy and Li speak about mindfulness and mediation to help achieve their resolutions throughout the year.

Quotes from the show:

“What we see is that it’s really big companies are taking advantage of the Power Purchase Agreements (PPAs) but we think there will be an opportunity for mid-size and smaller commercial and industrial [companies].” – Benoy Thanjan, Episode #63
On state solar programs and legislature: “There seems to be a focus on incentives to produce more solar energy.” – Benoy Thanjan, Episode #63
“With all these states taking leadership in this position [on incentives] it’s going to lift up the entire industry just by mandating certain standards.” – Li Wang, Episode #63
“There’s a lot of incentives in the pipeline to develop solar [energy] and [energy] storage, both stand-alone and together.” – Benoy Thanjan, Episode #63
On Green Tariff Programs: “For small and mid-size businesses it could be an opportunity for them [to reach] their renewable energy goals.” – Benoy Thanjan, Episode #63
“Politics do matter as far as how the policies reflect the industry, the Trump administration has not been supportive … on their attitudes toward policies that help renewable [energy]. ” – Li Wang, Episode #63
“If you look at state legislation, a lot of states have really been aggressive with passing incentives because the federal government hasn’t passed any new incentives.” – Benoy Thanjan, Episode #63
“What I have learned, through meditation, is that you can train your mind to become more present.” – Li Wang, Episode #63

Podcasts Mentioned:

Episode 58: Residential Solar Financing and Other Interesting Topics - with Benoy Thanjan and Nathan Jovanelly

Resources Mentioned:

The Investment Tax Credit (ITC)

Power Purchase Agreements (PPAs)

Virtual Power Purchase Agreements (VPPAs)

Solar Energy Industries Association

Solar Renewable Energy Credit (SREC)

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

Li Wang

MJWangMedia.com

Instagram: @liwang22

Sponsor:

We would like to thank Radiant REIT for sponsoring this episode of the Solar Maverick Podcast.

RadiantREIT is the first-ever investment trust to bring mortgage REITs to the solar energy market.

Visit www.radiantreit.com to learn more and to submit your expression of interest form today.

Subscribe to our podcast + download each episode on itunes, Podbean and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)

Tuesday Jan 07, 2020

SMP 62: Impact of Renewable Energy on the Future of Real Estate

Tuesday Jan 07, 2020

Episode Summary

This episode of Solar Maverick Podcast is a live panel discussion from the Deloitte Renewable Energy Seminar held in Dallas, Texas from October 2019. Lisa Brown from Johnson Controls, Susan Nickey from Hannon Armstrong, Benoy Thanjan from Reneu Energy and Todd Samson from Deloitte & Touche participated in a panel discussion on the role of renewable energy in real estate.

Benoy Thanjan

Lisa Brown

Lisa Brown joined Johnson Controls in 2003. As national director for municipal infrastructure and smart cities, Lisa is responsible for the growth of the local government market in North America, including the development of strategies, offerings, and innovations for local government service and systems markets. In 2015, Lisa created Johnson Controls' local government urban growth initiative, which combines smart city solutions with community outreach and workforce enhancement for midsize to large municipal customers. Lisa is consistently sought out to deliver keynote presentations and participate on smart city and IoT panels to discuss how data can assist cities to become "smarter" and its relation to climate resiliency, smart infrastructure, and economic growth.

Lisa was recently nominated to join the Women of Municipal Government committee for the National League of Cities and the Smart Communities Advisory board for the International City Managers Association. For the past three years, she has been the leader of the East Region Women's Resource Network of Johnson Controls and served as a global ambassador for International Women's Day. Lisa served 15 years with the Junior League of Montclair-Newark, four of those years as director of community development and outreach in Newark, New Jersey. Lisa currently is a board member of the Rumson-Fair Haven Education Foundation. In 2016, she was honored as a NY Women of Valor and received the Humanitarian Award from St. Francis Food Pantries and Shelters, which support 1.5 million food-disadvantaged New Yorkers annually.

Susan Nickey

Susan Nickey is a Managing Director at Hannon Armstrong, a leading provider of debt and equity financing to the energy efficiency and renewable energy markets. Susan has over 25 years of executive leadership in the energy and finance sectors. She has focused her efforts on proving that creative solutions and innovation can make the production of clean energy more profitable, competitive, affordable and mainstream. Most recently, she founded and served as Chief Executive Officer of Threshold Power. Prior to working at Threshold, she served as Chief Financial Officer at ACCIONA Energy North America. She was named one of Women’s eNews’ 21 Leaders for the 21st Century for her leadership in sustainable development. Susan holds a bachelor’s degree from the University of Notre Dame and a master’s degree in foreign service from Georgetown University.

Todd Samson

Todd Samson is a Certified Public Accountant and Tax Partner with Deloitte & Touche in the greater Chicago area. Todd was the moderator for the Impact of Renewable Energy on the Future of Real Estate at the Deloitte Renewable Energy Seminar in 2019 and has presented about renewable energy at the Deloitte 2017 Power & Utilities Fall Seminar. He graduated from the Indiana University Kelley School of Business in 2003 with a master's degree in business and a bachelor’s degree in accounting.

Insights from this episode:

Details on how the role of renewable energy has changed and grown over the past several years and the future role renewables will play in the real estate market.
Details on what is driving interest in renewable energy such as sustainability and concern for climate change.
Strategies for addressing and overcoming concerns from government agencies regarding the implementation of renewable energy sources.
How software will be very important to monetize different energy technologies and storage through for example resiliency and demand reduction.
Strategies municipalities are employing to create new revenue streams and monetize the renewable energy market.
Details on where the most significant opportunities exist in real estate in regards to renewable energy.
How to overcome the challenges of financing renewables in real estate.
Details on the United States renewable energy market versus the international renewable energy market and where innovation is going to come from in the future.

Quotes from the show:

On the mission of Johnson Controls: “Building renewables into the fabric of our overall holistic projects is definitely a priority for us and we help owners and building developers really pivot toward being more environmentally conscious.” – Lisa Brown, Episode #62
“Renewables are converging with energy efficiency and other technologies which is exciting to see.” – Susan Nickey, Episode #62
On solar power: “As a technology, people have gotten very comfortable with it in a very short period of time … so the conversations are a lot easier than they were.” – Benoy Thanjan, Episode #62
On people and businesses moving and working in urban areas: “They are demanding, as part of the mandate when they move in, that they need green [renewable energy] and that they are willing to pay higher for it.” – Lisa Brown, Episode #62
“The world is watching what North America is doing so developers and municipal leaders … need to be progressive in order to survive.” – Lisa Brown, Episode #62
“Corporations have been the big drivers and they are forcing cities and states to open up the market to renewable energy.” – Susan Nickey, Episode #62
“It is very difficult for America, at least for the states, to be able to do sweeping innovation (across) the entire United States because we all adhere to different rules and different forms of government.” – Lisa Brown, Episode #62

Resources Mentioned:

2019 Deloitte Renewable Energy Seminar

Investment Tax Credit (ITC)

Solar Energy Industries Association (SEIA)

Stay Connected:

Benoy Thanjan

Email: info@reneuenergy.com

LinkedIn: @bthanjan

Website: Reneu Energy

Lisa Brown

LinkedIn: Lisa Brown

Website: Johnson Controls

Susan Nickey

LinkedIn: Susan Nickey

Website: Hannon Armstrong

Todd Samson

LinkedIn: Todd Samson

Website: Deloitte LLP

Sponsor:

We would like to thank Schwerd Consulting for sponsoring this episode of the Solar Maverick Podcast.

At Schwerd Consulting they like to say that We Know Solar. We don’t just Do Solar. What sets them apart is their 100% focus on solar and understanding the business of their clients.

Let Schwerd Consulting take the burden off you and bring ease and expertise in all areas of Engineering & Design or help you navigate the technical world of solar.

If you are interested in learning more about Schwerd Consulting, you can call 215-219-6718 or email at admin@schwerdconsulting. Schwerd Consulting’s website is www.schwerdconsulting.com.

Subscribe to our podcast + download each episode on itunes, Podbean and youtube.

This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)