Manage episode 262927443 series 2484418
SMP 74: Impact on COVID-19 on Residential Solar
May 26, 2020
In this episode of the Solar Maverick Podcast, Nathan Jovanelly of IGS Solar speaks about how IGS Solar differentiates from other solar residential financiers. Nate talks about how the residential solar industry has been impacted by COVID-19. We also discuss how renewable energy should be incentivized in the United States and whether cost of capital or return on investment will change due to the pandemic.
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.
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.
Nate is the Director of Business Development at IGS Solar. He helped start both the commercial and residential divisions of IGS in 2014. Since then the company has developed, owns, and operates more than 150MW of commercial solar assets. They operate in 19 states, and have a booming residential division with more than 10,000 customers. IGS Energy, is an independent retail natural gas and electric supplier based in Dublin, Ohio, United States. It serves more than 4,000,000 residential, commercial and industrial customers. In just a few short years IGS has become the 5th Largest Solar Developer based on 2017 data from GreenTech Media.
Nate also appeared in two previous episodes in the Solar Maverick Podcast. The details are below.
Episode 58: Residential Solar Financing and Other Interesting Topics
Episode 20: The Solar Intrapreneur Story: How Nate helped IGS become one of the biggest solar asset owners in the US
Website: IGS Solar
LinkedIn: Nathan Jovanelly, PE
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