Renewables consultancy Reneu Energy opens offices in LA and San Diego
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.
California 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.
