SMP 40: Strategies for the Low Income Population to Use Solar Power

Aug 6, 2019

35:58

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Episode Summary

Li Wang, Director of Marketing at Reneu Energy, returns to the podcast as co-host. Listen as he and Benoy catch up about current events and discuss some hot topics in solar right now including solar energy projects in low income areas.

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.

Li Wang

A life-long journalist and communications professional, Li Wang was hooked on the news as an intern at the Philadelphia Daily News during the summer of the O.J. trial. He has been a business reporter, arts editor and film critic. He has shifted his focus to digital marketing and creative services. His company, MJ Wang Media, develops brand messaging and identity through website design and content marketing.

Insight from this episode:

Thoughts on the topic of India becoming a leader in solar with their tariff exemption.
The state of solar business in other countries and how it compares to solar in the US.
Low income housing and solar opportunities in the New York market.
The benefits of solar projects in low income communities.
A review of current state of solar industry including state and federal level legislation, tariffs, jobs, and the investment tax credit.
The normalization and social acceptance of solar as it is becoming more mainstream.

Quotes from the show:

“The perception has been that solar, at least in the US, is just for the wealthy.” Benoy Thanjan, Episode #40

“Community solar is one of the fastest growing types of solar in the US but states are requiring that a certain percentage of it be low income.” Benoy Thanjan, Episode #40

“You’re providing solar and energy to a population that doesn’t have it, and also promoting renewable energy, allowing people to lower their carbon footprint, and allowing people who would not normally receive solar to get solar energy and be involved in the process.” Benoy Thanjan, Episode #40

“After the initial investment it’s been shown to actually be able to lower utility bills which is significant.” Li Wang, Episode #40

“Solar has an opportunity now to become more accepted in the mainstream instead of a privilege for the rich.” Li Wang, Episode #40

Resources Mentioned:

Shark Tank

Grant Cardone

Book:

The Power of Broke by Daymond John

Sponsors for Recent Reneu Energy Events

Infiniti Energy Services

Spano Partners

Schwerd Consulting

CBL Markets