The past year in solar has been defined by significant disruption that has ultimately helped the industry mature and offer better customer solutions.
Here are a few examples:
- Policy maturation is driving energy innovation. For example, in September, Hawaiian Electric Company’s customer grid supply program reached capacity, meaning customers either must store their excess energy generated by solar, or release it. This is expediting the adoption of energy-plus-storage solutions. We discussed the implications of Hawaii’s customer grid supply changes at our most recent Hawaii Innovation Series event, which you can see a summary of here.
- Panel prices dropped to a record low, driving down customer costs and improving the rate of system payback. We have seen customers with as fast a four-year payback, saving millions over the life of their system.
- Big players in the solar industry like SunEdison, SolarCity and SunPower have experienced challenges, which are driving all solar providers to be better energy partners to their customers. The industry is learning that customers expect a fair price and a system that delivers the savings they were promised, but will reward the provider that gives them a lot more than that. Customers are looking for a stable solar energy partner that can add value in other ways – providing a seamless sales experience, support in comparing financial analysis, and even long-term planning for ways to maximize their solar investment as part of a broader energy strategy.
At REC, we are leveraging our position as part of the Duke Energy portfolio to provide stability and help customers navigate the constant changes in the energy sector, with the goal of maximizing their solar investment.
The work we did on behalf of our clients in 2016 is making a difference. It is improving their business by reducing expenses, freeing up cash for reinvestment elsewhere and providing long-term visibility into expected energy expenses. And on top of that, it is helping to build a more sustainable world.
In celebration of the work of our clients and those at REC Solar, we created a visual summary that shows a snapshot of the environmental impact of the systems we installed in 2016.
We are excited to see what 2017 will bring as we continue to innovate and focus on delivering better solutions and results to our customers.