Renewables consultancy Reneu Energy opens offices in LA and San Diego

07 August 2018

Jersey City-based solar energy consulting firm Reneu Energy has expanded into California with the opening of offices in LA and San Diego. The firm will look to capitalize on the demand for its strategic consulting services by having a boots-on-the-ground presence in the country’s hottest solar market.

$6.8 billion worth of utility-scale solar installation were completed in the US last year, spurred on by tax incentives and cheaper Chinese panels. The solar energy industry is one the US’ fastest-growing sectors, employing more than a quarter million people according the US Energy Information Administration. 20% are employed in manufacturing, while 40% are in installation – with solar PV installer currently the fastest-growing job in the US.

Trump’s January imposition of a 30% tariff on imported solar panels, however, rocked the growing US solar industry. With up to 80% of panels installed being manufactured overseas – mostly in China – solar project costs have been boosted by as much as 10%. This has led US renewables companies to cancel or freeze more than $2.5 billion worth of large installation projects – and thousands of jobs.

Despite the industry-chilling effect of the tariffs, solar energy consulting firm Reneu Energy is expanding into California with the opening of branch offices in San Diego and Los Angeles, California.  The Jersey City, NJ-based consultancy helps solar developers source financing for projects, provides strategic consulting services for companies looking to go solar, and brokers Solar Renewable Energy Credits contracts and long-term power contracts. Reneu Energy also matches developers and investors, and performs custom research on solar markets.Renewables consultancy Reneu Energy opens offices in LA and San DiegoCalifornia is a natural expansion point for the renewables consultancy, as it remains the hotbed for American solar investment. On the back of strong policy goals and incentives, the state has grown to produce almost half of US solar generating capacity.

"Our team has been increasing our travel to meet with clients in top markets in California, a state that has been a pioneer in clean energy legislation and implementation," said Benoy Thanjan, Founder/CEO, Reneu Energy. "California law requires at least 50 percent of the state's electricity to come from clean energy by 2030. Reneu Energy is prepared to assist all companies involved in this transformation."

In business since 2012, the firm has completed a number of large consulting engagements – including the sourcing of a 50MW utility-scale solar project; helping a pharmaceutical company go solar at their corporate headquarters; and developing a corporate strategy for Asian solar panel manufacturer looking to break into the US market.

"Our company has been energized, pun intended, by our recent West Coast-based projects," added Thanjan. "The entire state is on-board for solar. The people are hungry for more solar integrations. We are so happy to now have offices in San Diego and Los Angeles so we can meet face-to-face with others who are as enthusiastic as we are about the power of solar energy."

The San Diego office will be located at 704 J Street, while the LA office will be located at 1601 Vine Street.

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Business reporting increasingly focused on sustainable development goals

18 April 2019

According to the prevailing scientific consensus, climate change, pollution and environmental degradation resulting from current economic models cannot be sustained without considerable effect on societies going forward. Purpose beyond profit is being expressed by businesses, while meeting global targets for sustainability is also being incorporated into wider business practices. Reporting on positive and negative business impacts remains poor, however.

The economy has, for decades, come first. The consequence of that mindset, particularly with poorly planned growth, has left future generations with large-scale problems. The scientific community has for decades warned of over-pollution and over-consumption, with many of the world’s largest businesses now grudgingly taking heed.

Climate change, biodiversity and waste are the current key issues, with the UN climate accord putting in place a maximum bound for human-induced warming. Loss of biodiversity and dealing with pollution remain major areas in which global protocols will be necessary to mitigate long-term negative impacts with little short-term gains.

While global-level, intergovernmental collective action will be necessary to transition to a sustainable economic model, the UN Sustainable Development Goal (SDG) are a key port of call for businesses seeking to meet current sustainability criteria for their activities. A new report from PwC, titled ‘Reporting with Purpose and Impact’, explores how effectively companies are meeting SDG reporting goals – which show the increasingly social and enviro-conscious public whether a company is meeting the sustainability goals in its operational footprint.

Responsible business reporting increasingly focused on SDG

One key indicator of good reporting is a clear statement of purpose for the business as a whole. Concentrating solely on shareholder profit could have a negative impact on the public perception of a company – particularly if that profit appears to come at the expense of SDG goals themselves. A statement that includes the wider positive impact of a company, as well as the ways in which it mitigates its externalities, are increasingly seen as a necessary tool to improve public perception.

As such, the report shows that companies that have a wider social purpose to their existence tend to have a better public perception and a wider licence to operate in society. The study found that 47% of companies had a clear statement of purpose that aligned with their core business, while 45% of companies failed to have a clear statement of purpose.

The study notes that though reporting has historically focused on key social and environmental metrics (such as CO2 emissions), new reporting standards look at the whole footprint of companies across their entire value and supply chains – including subsidiaries, contractors, and suppliers.

The fuller accounting explores the whole impact of their activity on society and the environment, which makes it considerably harder to hide the effect of their suppliers or subsidiaries, which could have considerable environmental impact – even though the parent company has in theory “reduced its emissions to zero.” Furthermore, positive achievements like reducing poverty or improving quality of life needs to be considered in light of the long-term sustainability of that achievement. 

In the end, analysis of FTSE 350 reporting finds that companies are not clearly reporting their impacts on the environment, are not aligning their stated purpose with their environmental outcomes, and are largely focusing only on positive aspects of their impact, rather than the less flattering whole.