REC Solar’s Countdown to 2016
2015 was another record-breaking year for REC Solar. Before we turn our focus entirely to 2016, I’d like to reflect on the path we’ve traveled and recognize those who made it possible.
Here’s my “top 10 list” of reasons we’re thankful and excited for the New Year:
- Global progress made to tackle climate change. REC Solar is excited by the progress and commitments made by global leaders at the recent climate change summit in Paris.
- The solar Investment Tax Credit (ITC) extension, which will allow for the installation of an additional 25GW of solar panels in the U.S. over the next five years. This is a huge win for the planet that will propel our industry further along our proven learning curve. Further, the new legislation recognizes that the need for a 30% ITC will diminish over time and stair-steps it down in a sensible manner – no more “cliff”!
- We’re honored to be part of the solar industry for 18 years now. We’ve passed many milestones on our journey, including our pivotal decision in 2014 to sell the residential business and focus REC Solar exclusively on commercial energy solutions. This focus provides an extraordinary opportunity to create unique value for our customers.
- Our new main office in San Luis Obispo, CA. In addition to our new main office, we also have a new office in Petaluma, CA and one in Honolulu, HI to call home. We’re looking forward to continued growth in 2016 and years ahead.
- Our latest partnership with Green Charge Networks allows us to provide our customers with optimized energy solutions that integrate the best of solar and storage, seamlessly.
- The addition of the exceptional Stellar Energy team. When this team became part of REC Solar, we not only added 62 projects totaling more than 60 MW to our pipeline, but also benefited from the centerpiece of any successful company: its people.
- A new portfolio of solar financing solutions. Through our new, streamlined PPA and solar lease offerings, enabled by Duke Energy’s efficient financing, we’re able to deliver compelling economic value to our customers simply and quickly.
- Duke Energy’s continued support of REC Solar. Duke Energy is the nation’s largest electric power company and a valuable contributor to REC Solar’s growth. In February, Duke purchased a majority stake in REC Solar and committed to fund up to $225 million of solar projects for our commercial customers.
- Our dedicated employees, for working tirelessly to develop and deliver industry-leading solar projects, now surpassing 500 projects totaling over 200 megawatts. One great example is the KIUC Anahola 14.5 DC (12 MW AC) array, which is the largest solar array in Hawaii on the gorgeous island of Kauai. This project provides the Kauai community with approximately 20 percent of its daytime electricity needs. This project would not have been possible without the vision and commitment of the Kauai Island Utility Cooperative (KIUC).
- We are most thankful for our customers. Our success is a direct result of our customers’ commitment to sustainability and operational efficiency. Thank you for showing the world how reliable and affordable solar technology is, and for leading the way to a sustainable energy future.
From all of us here at REC Solar, we wish you a happy and prosperous New Year!