Solar Energy Initiatives, Inc. was formed to execute on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, while building a profitable company.
Solar Energy, Inc. was originally founded in 2001 as a manufacturer and distributor of solar energy equipment. In 2004, the company founded their acclaimed solar energy dealership program to train and support solar contractors with a 30-plus year knowledge base in solar design, manufacturing and installations. In 2008, the assets of Solar Energy, Inc. were acquired by Solar Energy Initiatives, Inc., a publicly traded company (SNRY) based in Ponte Vedra Beach, Florida. Since then, Solar Energy, Inc. has rapidly expanded its dealership network bringing many newly trained solar contractors to the growing marketplace. The company's focus is providing wholesale solar equipment to its network of dealers who perform installations. For do-it-yourselfers and hobbyists, we offer an extensive selection of solar equipment and systems via our online “shopping cart”.
With the company's extensive background and experience in solar, their team and affiliates have the range and depth of experience to provide technical sizing, support, equipment-matching and sourcing to supply required equipment for most any residential or commercial solar projects. The company is a master distributor for GE Photovoltaics, and offer hundreds of branded renewable energy products. Their training staff and associates are licensed solar contractors and/or North American Board of Certified Energy Practitioners NABCEP certified. The company has thousands of solar sales under their belt, let them be your preferred solar provider.
Investment Highlights
- Solar Energy Successfully moved from development stage to fully operational solar enterprise in the fastest growing industry worldwide in 2008.
- The Company is anticipating its revenue run rate to be at $6 million by fiscal year- end July 31, 2009 and $21 million by the 2010 fiscal year-end.
- Solar Energy has established a network of fifty dealers within their independent solar sales division, which is one of the largest in the U.S.
- The Company will utilize the equipment of BP Solar a division of British Petroleum, GE Solar a division of General Electric ,and leading off-shore Asian suppliers as it accelerates it integration strategy, the next growth segment of the Solar Industry.
- Management has an arrangement with an Asian Photovoltaic Solar Panel manufacturer to exclusively represent their products in North America.
- The 8-year extension of the Federal Investment Tax Credit and the anticipated drop in the cost of solar electric generation bodes well for the Solar Industry.
- The Company is now generating revenues from the sale of solar products to their network of 50 + dealers as well as income generated from the addition of new dealers and Solar University training.
- The number and quality of commercial and solar park projects in the pipeline continues to grow, with total capacity for all projects exceeding 50 Megawatts.
The Company attracts its dealer network through its proprietary domain name and website, solarenergy.com.
- The site is the most visited solar website in the world, currently receiving over 350,000 "hits" per month.
Solar Energy
Energy from the sun can be used in many ways. Light is the most common way we take advantage of solar energy to light buildings via windows and skylights. Heat or thermal, such as passive solar room heating, solar hot water and pool heating are other applications of solar “thermal” energy. With photovoltaic or “PV” (also sometimes called “solar electric”) we harness solar energy by directly converting sunlight into electricity by use of semi-conductors. Even though all of these are considered solar energy systems, the equipment, technologies and costs are substantially different for each. This section will help to clarify the basics of these systems and how they may be deployed to meet your energy needs and carbon reduction efforts.
Residential Applications For Solar Energy Systems
We don’t typically think of our home polluting or having impact on the environment. Buildings (homes and businesses) consume two-third of of total U.S. electric demand. New structures may be more energy efficient due to newer heating and cooling systems, energy-star™ appliances, better insulation, windows and doors. The U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) has set guidelines for “green” buildings that many customers and builders are embracing. In general, any improvement to the efficiency of your home (reducing your total energy consumption) helps to reduce the size of the solar installation needed or it allows the solar to satisfy a higher portion of your energy requirements. In short, energy efficiency and energy conservation amplify and complement the values and benefits to having a residential solar energy system.
Commercial Applications For Solar Energy Systems
Businesses that move from coal and oil-based energy to solar will provide a major impact on our national energy use (and pollution reduction) as buildings in the U.S. consume two-thirds of the electricity generated. Because there are many types of solar energy systems, there are also many types of commercial solar energy systems, such as photovoltaic systems, solar hot water systems and solar pool systems. These systems use very different equipment and tend to require more expertise than residential systems. Commercial solar installations differ from utility scale solar installations in that commercial systems they generally much smaller in size and the power generated is primarily utilized on site as opposed to regionally distributed.
As new construction project will typically focus on initial capital costs, less attention has been made to ongoing operating (energy) costs. The U.S. Green building Counsel’s Leadership in Energy and Environmental Design (LEED) has set guidelines for “green” buildings that many customers and builders are embracing. In fact, many states and local governments require LEED certification on new construction and major renovations and solar can be instrumental in attaining LEED certification. Because of off-set energy costs, IRS tax credits, accelerated depreciation, state and utility incentive, in addition to secondary revenue opportunities with selling Renewable Energy Certificates (RECs), commercial solar energy systems make a compelling business case scenario.
Management
David Fann, CEO
David Fann is a founder and a member of the board of directors of Solar Energy Initiatives, Inc. He brings to SEI a successful background as an entrepreneur with expertise in operational startup, acquisition and disposition, public company leadership & transaction structuring in addition to securing capital for growth companies. David has been involved in transaction processing, software systems and communications technologies companies. He will assist in the raising of various types of capital to fund the pending deals, projects & subsidiaries necessary for successful growth of SEI's renewable energy portfolio companies.
Greg Bakeman, President/CFO
Greg Bakeman has been the president and CFO of public and private sector renewable energy companies since 2001, and has 25+ years of commercial and corporate finance experience. Greg has a MBA in Finance and B.A. In Business Administration.
Pete Wilking, President, Solar Energy, Inc.
Pete Wilking brings more than 20 years of experience from both public and private sectors. Prior to joining Solar Energy, Mr. Wilking was general manager of a high volume solar installation company and is a licensed solar contractor in the state of Florida. Previously, he held positions at MPS Group as a business analyst and also finance and policy in local government. A former naval officer, he held various department head positions and is a veteran of the first Persian Gulf war. He has an MBA with a BS in environmental health and trained as an industrial hygienist.
Dean C. Leischow, Executive VP of Sales and Marketing
Mr. Leischow most recently was the President of Leischow Group Inc. which provided Energy Consulting Solutions targeted to several markets. The most prominent was multi-location restaurant and retail but also the private college and university markets. The company advised its clients on how to best procure natural gas and electricity as well as minimize the demand within their facilities for these commodities. Over an 8 year period the company designed supply and demand management solutions for clients and oversaw the implementation of these solutions to over 14,000 facilities throughout the US and Canada. The Leischow Group grew to annual Sales of $16 Million and a managed utility supply base in excess of $150 Million. The executed programs resulted in a reduction in an estimated $300 Million in annual energy consumption. Prior to starting the Leischow Group he served as the Director of Energy Performance Contracting for Siemens USA. He also held several executive rolls at Honeywell Inc. from 1986 to 1995.
