SMP 47: Financing Solar 101

SMP 47: Financing Solar 101

 

Episode Summary

In this episode of the Solar Maverick we dive into Benoy’s finance origin story going back as far as his 7th grade stock/finance class. In addition we also learn about Benoy’s parents influence on his entrepreneurial path, secrets to financing solar projects and upcoming tax incentives for solar investing.

 

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.

 

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:

The benefits and importance of early financial education
How internships shape your future
The importance of mentors and relationships 
How and why video helps to establish trust
Secrets to financing Solar Projects
The blueprint to solar financing 101
Insight to solar tax incentives and upcoming changes 

 

 

Quotes from the show:

 

“The ITC has created hundreds of thousands of jobs, sparked more than 150 billion in private investment and helped grow solar deployment by more than 10,000 percen”t – Benoy Thanjan, Episode #47

 

“The reason I push people to do video is it helps establishes trust.” – Li Wang, Episode 

#47

 

“Fortunately or Unfortunately more people prefer to watch videos than to read” – Li Wang, Episode 

#47

 

“I have 10 years of experience in the solar industry, I don't consider myself just a financing person because I’ve been on all sides of the transactions and on all of the development aspects of it and even on the construction side” – Benoy Thanjan, Episode #47 

 

“It’s interesting because 10 years of experience in the solar industry, you’re considered a veteran because it’s such a new industry.” – Benoy Thanjan, Episode #47

 

Resources Mentioned:

Database of State Incentives for Renewables & Efficiency®

 

Solar met 2.7% of U.S. electric demand during the first half of 2019

 

How a battery can be eligible for the ITC today and possibly in the future

 

Model Leases and PPA

 

www.podknife.com

Benoy will be speaking at the Deloitte Renewable Energy Seminar on Friday, October 4 in a panel on “Impact of renewable energy on the future of real estate” with Lisa Brown from Johnson Controls and Susan Nickey from Hannon Armstrong.

 

2019 Deloitte Renewable Energy Seminar

October 2-4, 2019 | Dallas, TX

Stay Connected:

 

Benoy Thanjan

 

Email: [email protected]

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

 

Li Wang

 

MJWangMedia.com 

Instagram: @liwang22

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