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New Firm Pedals Solar Services to Owners

SAN FRANCISCO-Recurrent Energy is targeting a turnkey solar installation and operation service to owners of existing industrial portfolios.

By Marita Thomas | Updated on June 27, 2008

SAN FRANCISCO-While developers’ interest in adding solar technology to new buildings is rising, locally based Recurrent Energy was formed within the past two years to develop an ambitious program for owners of large portfolios of existing industrial properties. Called “Solar as a Service”, it is a turnkey program under which the company leases rooftops, builds the solar panels and ancillary equipment, then operates the system and charges owners for the energy the system produces for the building.

Because the sun doesn’t shine everywhere all the time, the buildings stay connected to the local utility grid. Solar power typically displaces the expensive, peak-time utility power, according to Arno Harris, CEO. He says his company’s solar service will typically shave between 5% and 10% from a building’s previous electric bill.

“On large buildings, that can be significant,” he says, “but the more important benefit is that it makes the building more sustainable. There’s a huge explosion of interest in sustainability. Most of the big green initiatives are for new construction. Managers are concerned about older buildings’ ability to compete,” he suggests. Harris says his company developed the program to “overcome the problem of first cost” to building owners and “get beyond the one roof at a time business model.” Neither owners nor tenants pay for the installation and operation, and Recurrent Energy profits from the sale of electricity the installation generates for the building.

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