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How To Write a Renewable Energy Business Plan (Template, Sample)

Published Nov.07, 2022

Updated Sep.14, 2024

By: Jakub Babkins

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Table of Content

Renewable energy business plan for starting your own business

Do you aspire to keep both your bank account and the environment happy? A renewable business may be the best choice for you, then. By launching it, you can generate profits while doing your bit for the planet.

A renewable energy enterprise supplies green and clean energy produced by solar, wind, or water resources. The business has immense potential especially due to the launch of B3W in near future.

To commence this business, you require a business plan for renewable energy that covers every aspect. For an insight into how to start an alternative energy company and how to document a perfect operational plan, you can read this article. In this blog, we have given a sample business plan for Clean Power, a startup based in Phoenix. Before entering the business world, it will be helpful to also read a solar photovoltaic feasibility study .

Executive Summary

2.1 the business.

Clean Power is a renewable energy startup based in Phoenix. The company aims at offering clean and green energy solutions to households, institutes, companies, and manufacturing plants.

2.2 Management of renewable energy business

After you have developed an operational plan for starting a renewable energy business, you need to devise a strategy to manage it. Your management strategy should include planning about where to procure the equipment from, where to launch your plant, and how to manage the transitions from raw product to successful installation while remaining within your finances.

In this business plan for renewable energy projects we are documenting how to start a renewable company. We will include segments from business plan for banks to help you with the financial part.

Moreover, in this renewable energy business plan pdf, we’ll also jot down the staff and other requirements to run the company.

2.3 Customers of the renewable energy business

Customer groups may be diverse, based on your preferences. Those of Clean Power are:

• Industrial Complex
• Manufacturing Hubs

2.4 Business Target

The business targets of Clean Power are centered around environmental protection and customer satisfaction. They will be mentioned in the later sections. However, monetary goals are partially demonstrated here:

Company Summary

3.1 company owner.

Clean Power will be owned by Martha Ben. Martha is an Electrical Engineer. She has specialized in Energy Systems Engineering at the prestigious Massachusetts Institute in Amherst.

3.2 Why the renewable energy business is being started

Martha always wished to start a business in the engineering niche. Due to immense renewable energy business opportunities, she decided to go for it.

3.3 How the renewable energy business will be started

If you are worried about how to start a career in renewable energy, just follow these simple steps.

Step1: Create Business Plan for Renewable Energy Company

To initiate the launch, you need to make business plan renewable energy. For reference, you may use this renewable energy business plan template or solar energy business plan .

Step2: Acquire Resources

Subsequently, you are required to procure all the equipment that may be needed to generate renewable energy. You will need to hire the personnel and staff that can help you operate.

Step3: Make you Known

The next step is to advertise your venture and competitive advantage. You should be clear and concise about how you are different and better than your competitors. A good practice these days is to exploit online media, Google Ads, and websites to make you known to the public.

Step4: Manage Finances

As you are finished with devising a business plan, you need to start operating and managing the financial flows.

Services of renewable energy business

Services for startup renewable energy business must be decided as you explore how to get into renewable energy industry. Due to diverse business opportunities in renewable energy, you are fortunate to provide services in any niche. To decide on the services, you should study several renewable energy business plans and explore renewable energy business ideas from online companies.

Whatever services you decide for renewable energy for business, make sure to include all its aspects in your business plan template for renewable energy.

The services of Clean Power are:

• Manufacturing & Setting Up Solar Cells

Our basic service will be to manufacture solar panels, solar tiles, and solar cells to be installed in small and large spaces.

• Generating Hydra Power

We will develop optimized solutions to generate clean energy by exploiting water resources.

• Wind-Powered Projects

We will also establish and install wind power plants in the city outskirts.

• Installing Power Protection Systems

We will also set up power protection systems with relaying networks wherever we install the renewable energy setup.

Marketing Analysis of renewable energy business

There are many factors to be considered before establishing a business in renewable energy. First, you need to explore how to start a renewable energy business in a specific location. You need to check out for average income of people in your vicinity to know whether they would avail of renewable energy solutions or not.

All of this information can be summarized in the marketing analysis segment of your renewable energy business plan. You can further make sections for customer segments, market trends, and prevalent pricing strategies to have a clearer idea of renewable energy business opportunity in your area.

For developing a marketing analysis that considers all business opportunities renewable energy, an expert person who knows how to gather statistical data for secondary analysis is required. You may consider hiring a professional or if you want to do the task yourself, you should thoroughly study a renewable energy business plan sample. A good practice would be to also go through biotech startup business plans to have in-depth knowledge of the field.

5.1 Market Trends

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All the graphs related to renewable energy are seeing an upward trajectory. At present, the market size is $17 billion according to IBISWorld and the figure is expected to rise in the near future. Most of the solar, hydro, and wind power projects are expected to be assigned by the U.S. government in the wake of clean energy programs sought after by B3W countries.

5.2 Marketing Segmentation

In this renewable energy company business plan the market segments identified by Clean Power are given below. Since some of the segments also do overlap with those in gas station business plan and business plan for a biodiesel , you can take guidance from them as well.

Business plan for investors

5.2.1 households.

This segment is expected to make small purchases for mainly solar panels at us.

5.2.2 Industrial Complex

This segment will be making large purchases and they are expected to avail of all of our services including the installation of protection systems.

5.2.3 Institutes

Government and non-government institutions are expected to avail of our hydro, wind, and solar energy services. They might also hire us for installing power system installation systems for generation grids.

5.2.4 Manufacturing Hubs

This segment will form most of our customers. It is because manufacturers look for ways to optimize their operations even when the initial setup costs are high. They are also expected to avail of our power system protection services.

5.3 Business Target

• Maintaining a CSAT score above 90% throughout the service years.
• Capturing 25% of the market share within three years of operation.

5.4 Product Pricing

As per this solar farm business plan , Clean Power will keep its prices in the same range as the market average. However, certain discounts will be provided at the start to attract customers.

Marketing Strategy of renewable energy business

Though there are immense business opportunities in renewable energy, they can yield you profits only when you reach out to a maximum of customers.

A major challenge in renewable energy entrepreneurship is to convince people how renewable energy is ultimately going to save them money as the initial installation costs are high. Therefore, while you learn how to get into the renewable energy industry, you should also explore how to market renewable energy for businesses’ success.

In this blog on how to make a renewable energy project, we are providing the sales strategy developed by Clean Power.

6.1 Competitive Analysis

• Our employees are highly specialized and experts in their domains.
• We are offering several discounts, in the beginning, to get known.
• Customers are our topmost priority, we are willing to go to all lengths to facilitate them.

6.2 Sales Strategy

• We’ll offer a 50% discount to our first 50 customers.
• We’ll offer a 20% discount on all our services in the months of June and July.
• We’ll advertise our startup on social media, in local newspapers, and in magazines.
• We’ll hold seminars to elucidate the importance of climate conservation by turning to renewable energy.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan of renewable energy business

If you have decided to build your own renewable energy source and help others in doing the same, you should go for planning about staffing requirements. The business renewable energy cannot be run without an expert, dedicated, and talented bunch of workers. You need to devise a criterion for employment and a policy to assign weightage to candidates’ test or interview scores, educational qualifications, experience, etc. to find the ideal one.

7.1 Company Staff

In this renewable energy business plan pdf, we are providing the list of company staff developed for Clean Power.

• 1 CEO to oversee all operations
• 1 Financial Manager
• 3 Electrical Engineers
• 1 Software Engineer
• 5 Electricians & Technical Assistants
• 1 Legal Expert
• 1 Web Developer & Graphic Designer

7.2  Average Salary of Employees

Financial plan of renewable energy business.

The costs incurred in running a renewable energy business are high. At the customer end as well, getting renewable energy setup installed is an expensive venture. The renewable energy suppliers must, therefore, develop a long-term financial plan. Individual financial strategies for each project will also be needed to demonstrate to the consumer how renewable energy is going to save them their dollars in the long run.

It is recommended to hire a professional financial analyst for developing an accurate financial plan. The professional expert in the field will ask you for your fundamental policies and monetary goals and develop a plan with accurate profit margins and loss assessment tables. In case you are looking for a renewable energy business for sale you may get a pre-developed financial plan for that business.

The financial plan of Clean Power is given below.

8.1 Important Assumptions

8.2 break-even analysis.

8.3 Projected Profit and Loss

8.3.1 profit monthly.

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 business ratios.

All tables in PDF

• How do I start a renewable energy business?

To offer renewable energy service, you need to make renewable energy plan. If your business plan renewable energy covers all the aspects of your business, you are only left with the task of executing it. You need to procure the machinery, rent the space, and hire some engineers, technical assistants, and managers and you are good to go!

• Which renewable energy is profitable?

If you compare renewable energy sources, you can figure out that solar is the most profitable. It is because its scale can be minimized and extended without many constraints. In this business plan for renewable energy projects we have provided the unit sales and income generated from the solar products.

• How can I start a small energy company?

You can read the complete guide on starting a small energy company in this renewable energy company business plan. The steps would be the same except that your sphere of activity will be confined to a smaller area and your manufacturing scale may be lower than others.

• What is renewable energy in business?

In business, renewable energy is offering those resources to generate power that are never prone to depletion. As elucidated in this renewable energy business plan sample, the business includes designing customized solutions according to your consumer needs on a small and large scale.

• What are the 7 types of renewable resources?

The seven types of renewable resources are:

• Hydroelectric
• Who is the largest renewable energy company?

Tesla is the largest and most renowned renewable energy company in the United States.

• Is renewable energy profitable?

Yes! In the financial part of this renewable energy company business plan, you can see how much profits can be generated as per investment by launching this business. To ensure your business never runs into loss, you just need to make an accurate renewable energy business plan template.

• How do renewable energy companies make money?

Renewable energy companies make money by offering clean, green, and sustainable energy solutions to their customers. In this renewable energy business plan pdf, we have provided all stats for Clean Power for you to gauge how much revenue can be earned through it.

• How can I invest in renewable energy?

You can launch a franchise, start your own company, as well as invest in other startups by buying their shares or stocks. In this renewable energy business plan, you can see a stepwise guide for if you want to launch your own business.

Download Renewable Energy Business Plan Sample in pdf

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Energy Conservation Business Plan

Start your own energy conservation business plan

Green Power Consultancy

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Green Power Consultancy is a start-up organization in Burlington, VT that offers designs and advice to architects and consumers regarding environmentally sensitive buildings as well as energy consumption recommendations. Green Power has identified three keys to its success. The first is the need to only offer solutions which are based on market demand. The second is to ensure that all of its offerings are based on economic justifications; the solution should make sense beyond the environmental considerations because it has long-term economic value.

Green Power will be targeting architects and individual consumers. Green Power will work closely with several architects providing them the ability to offer environmental solutions to their customers. This group is growing at 7% and there are 23 potential customers in the area. The second customer group is individual consumers; an environmentally conscious group that have sought out a service provider to help them implement their personal ethics into the design of their new or existing structure.

Green Power is an environmental energy consultancy that offers a wide range of services: advice regarding passive heating, grey water usage recommendations, renewable energy considerations and employee transportation options.

Green Power will be led by the seasoned management team of Dan and Sue Lang. Dan received a degree in environmental studies, business, and a Masters in architecture. Dan has several years of work experience within the industry. The second part of the team is Sue Lang. Sue has an MBA and work experience with the Bonneville Power Administration in their renewable energy department. Through a combination of excellent education and good work experience, Green Power’s management team will be able to successfully execute on its business plan.

Green Power has conservatively forecasted sales of $202,343 for year two, rising to $238,402 for year three. Net profit will be reached in the second year. Through a combination of a proven business model, a strong management team, and this comprehensive energy business plan to guide the organization, Green Power will be long lasting, profitable business.

It is Green Power Consultancy’s mission to provide the finest green energy solutions for new constructions as well as existing building owners/lessors. Through careful analysis, attentive customer support, and cost effective solutions, Green Power will become a stable business serving the Burlington community.

Keys to Success

Green Power has identified several keys to success that will be instrumental in creating a sustainable business.  If these keys are followed, the likelihood of success will significantly increase.

• Offer solutions that are demanded by customers.
• Ensure all of the solutions have economic considerations built into the respective models.
• Only provide 100% customer satisfaction.  All customers must have their expectations exceeded.

Green Power has identified three objectives that it will pursue for the long-term success of the business:

• Proven cost-benefit analysis environmental approaches to structure building, maintenance and energy consumption.
• Become the premier environmental energy consultancy in the state within five years.
• Reach profitability within three years.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Green Power is a Vermont-based L.L.C green energy consultancy. Green Power offers its services both to architects who are constructing new businesses as well as existing building owners/users who are looking to make their existing structure more environmentally sound.

Start-up Summary

Green Power will require the following equipment in order to begin operations:

• Computer system including three workstations, standard laser printer as well as a wide mouth printer, Internet access, and assorted software such as Microsoft Office, QuickBooks and CadArchitect (the premier architect industry software).
• Three work areas including two drawing tables and the assorted office supplies for the standard workdesks as well as the drawing tables.
• Various bookshelves, lights, and couches (for clients).
• Bike storage unit/locker.
• Refrigerator, microwave, and assorted utensils for the lunch room.

Company Ownership

The two principal owners of Green Power is Dan and Sue Lang.

Green Power offers a wide range of environmentally-conscious energy solutions related to new and existing structures. The main areas of consulting that Green Power will offer are:

• Passive heating: This applies to the construction of the new structures, designing the structure to capture and utilize heat that is either generated naturally or as a by-product of the building. Examples of passive heating include specific placement of the heating vents, the design and placement of the building and the windows.
• Grey water: This is the capture and utilization of grey water.  Grey water is water that has been used for some other source such as in the faucets or rain water that can no longer be offered as potable, but still can be used for toilet flushing or land irrigation.
• Renewable energy: This service offers customers the information needed to make intelligent decisions regarding the use of renewable energy sources. Renewable energy sources can be defined as sources of energy where the rate of energy depletion is not faster than the production rate.  Examples include: wind power, photovoltaics, hydro power, biomass, solar energy.
• Employee transportation: This service is to reduce the energy consumed by employees traveling to work. Typical aspects of the plan are outlining public transportation options, developing a company subsidized public/alternative transportation voucher, building covered bicycle lockers and shower facilities as well as other activities designed to increase the number of employees using bicycles as their main source of transportation to work.
• Efficient building construction: This focuses on the use of local building materials thereby decreasing energy needed for transportation as well as the utilization of recycled materials for construction decreasing energy demands for the manufacture of new building materials.

Market Analysis Summary how to do a market analysis for your business plan.">

Green Power has segmented the market into two distinct target market groups. The first group is architects who are building a structure either speculatively (infrequently) or for a client (generally). The second customer group is individual customers who desire environmental elements designed into their building. The niche that Green Power has chosen to participate in is a fairly new field. Green Power faces competition from eco-architects as well as from the local utilities that may have a small department that offers green energy consultation advice. The industry often operates to satisfy clients; it is the end customer that typically requests green energy designs and they either seek out a specific architect or they request their architect to receive guidance from firms such as Green Power.

Market Segmentation

Green Power has segmented its target market into two different customer groups, both equally attractive.

• The architect firms typically have two – nine partners.
• Offer both residential and commercial design work, however 67% of their work is commercial.
• The firms typically have only a handful of service providers that they work with. This means that once they find someone they trust, they develop a long-term relationship with that service provider.
• Yearly revenue ranges from $200 thousand – $5 million.

Individual customers This segment contains consumers who are either having a residential home, or a commercial structure, designed. Due to their personal environmental concerns and a recognition that it can be cost effective to have building decisions with environmental considerations, they have requested Green Power’s assistance. They are generally working directly with Green Power for their design needs and will likely then take this design criteria to their builder.

• The individual is an environmentalist and they take into account how their action will impact the environment.
• The age range of clients is 35-49.
• Average household income is $65,000. Please note that while the overriding concern in using Green Power’s services is the positive impact on the environment, a cost benefit analysis indicates that in the long term it is cost effective to adopt green energy considerations.
• 89% of the group have at least an undergraduate degree, 26% have a graduate degree.

Target Market Segment Strategy

Green Power has chosen these two market segments for compelling reasons. The architects have been focused on because they are the service providers that do the bulk of the design work for residential and commercial structures. The architects are used as sales people for Green Power’s services, they are the ones that can then sell these services to their customers. It benefits the architects because they are able to offer a wider range of value-added-services to their customers without spending capital of learning the information themselves. By aligning itself with architects, Green Power is able to offer their services to a larger group of people.

Green Power will also serve individual customers. These are people who know that they want environmental considerations made in the design of their structure and will seek out a firm such as Green Power to have this work done. Burlington is a wonderful place to locate Green Power as there is a high population of environmentally-conscious people in this city. This provides Green Power with a large market of interested customers. Additionally, this market group is attractive because people that have environmental tendencies are often vocal about their commitments or causes. By offering green energy services, Green Power allows this group of people to act on what they believe in on a personal level, adhering to the wise saying think globally, act locally.

Service Business Analysis

The environmental power consultancy industry is fairly new. Only recently has there been an emergence of firms that offer these services. This can be explained by several factors. First, people are becoming more environmentally aware these days, a function of many things including the recent problems with the Middle East and Fundamental Islamists. These recent problems have forced people to reconsider America’s dependence on oil and the need to maintain good relationships with Saudi Arabia only because of their oil. Another factor that has contributed to the growth of green power is that it has become increasingly cost effective to make business decisions while taking into account the decisions impact on the environment. For years an environmental decision was based on personal consciousness and ethics, not overriding economic factors. Now money can be saved when environmental impacts are taken into account. Please read the following section which will indicate the different players within the industry.

Competition and Buying Patterns

The competition generally takes two different forms:

Eco-architects These are architects that specialize in environmental design considerations. Typically their entire practice is based around structures that have environmental elements. Green Power could actually be within this industry niche, however they are able to serve a larger customer baser, therefore earn more revenue as well as make a positive impact in our world by offering its services to both end consumers as well as regular architects as opposed to the business model of only serving one set of customers.

Local utility The local utilities often have a department that offers free consultation for environmental design considerations. There are incentives for the utilities to attempt to curb their customer’s use of their energy. These incentives take the form of not needing to make as many capital expenditures to develop the power delivery infrastructure to accommodate the increased load for energy demands. Therefore, the more the utility is able to get their customers to conserve, the less money they have to spend on infrastructure improvements, the more money they earn. That being said, the utility often has a small department that offers tips on energy conservation. While these tips can be quite helpful, since they are offered for free for the power customers, they are not nearly as comprehensive as they could be. So while they provide good initial tips, the local utility is not a strong competitor to serve a client who is committed to making as much of a positive environmental difference as can be achieved by using a specialized firm.

The buying pattern for consumers is currently being defined as we speak, a function of how new the industry is. Currently, purchasing decisions are based on customers typically making requests for these services from their architect or they do a bit of research to determine who offers these services. As the industry becomes more mature, firms will become more established and reputation and visibility/awareness will shape buying decisions. Since there is a wide range of options regarding implementation, price is less of a consideration for the decision since most of the service providers can offer a wide range of inexpensive to expensive options.

Strategy and Implementation Summary

Green Power’s business strategy recognizes and will leverage the fact that a lot of business will be transacted through networking and word-of-mouth referrals. With this in mind, Green Power will work diligently to build alliances with architects who can co-brand their services with Green Power thereby increasing Green Power’s potential qualified customers.

Green Power will rely on its competitive edge of adopting a cost effective environmental solution so in addition to meeting environmental concerns of the customer, Green Power’s services will save the customer money over time.The marketing strategy will highlight both environmental attributes as well as economic ones.The marketing campaign will recognize the existence of two distinct market customers. Lastly, the sales strategy will offer a compelling economic analysis of how the customer can save money by adopting Green Power’s designs.

Competitive Edge

Marketing strategy.

The marketing strategy is based on developing an awareness regarding Green Power’s services to both architects and the end use consumers. Green Power will strongly use networking as a means to develop relationships with many of the city’s architects. Although Burlington is a reasonably-sized city, the architect community is fairly close knit. If one wanted, it is easy to develop active relationships with many of the different architects in Burlington. By developing these relationships, Green Power will allow the firms to become familiar with not only the services offered by Green Power, but also the personalities involved, recognizing that much of business is transacted by who you know. Advertisements will be placed in the local architect newsletter.

To reach the end user customers, Green Power will use Advertisements in the local paper as well as within the yellow pages. As a means of increasing visibility of Green Power, GP will participate in several community-based seminars that serve as a free source of information for the citizens of Burlington. Green Power believes that participating in the seminars will be an effective way of meeting many of the potential customers and allowing them to become familiar with Green Power expertise.

Sales Strategy

The sales strategy implicitly and explicitly takes into account the philosophy that the reason that many of the people are attracted to Green Power is because of its personal environmental ethics. The sales strategy will leverage this desire with the fact that environmental decisions can have positive economic impacts in the long term. Therefore the sales strategy will leverage the competitive edge of economic justification as the method for turning sales leads into customers. For this strategy to be effective, Green Power will present customers case studies and quantifiable data proving economic justification.

Sales Forecast

Green Power has adopted a conservative sales forecast for the business plan. By adopting a conservative prediction, it is easier to hit sales goals and increase the likelihood that the business plan is relevant to the business. If the sales forecasts was wildly off, it casts doubt on the application of the plan for the business.

Sales will be slow for the first several months, a function of Green Power being a start-up organization. As Green Power increases their customer pool and more architects become familiar with GP’s services, business will grow. Growth will be forecasted and preferenced as steady. The steadier it is, the easier it will be to deal with the incremental growth in work. Please view the following table and charts for a graphical representation on monthly and yearly sales.

Cost of sales for a consulting company are negligible, however, cost of architects sales will be 20%, since we will pay commissions to the architects for referrals.

Green Power has identified several milestones as a way of setting achievable goals. Performance is likely to be improved through the quest of reaching the goals. This phenomenon is well documented and is used in large corporations such as GE’s Seven Sigma Program as well as many state’s benchmarked-based assessment testing systems. Green Power has identified the following milestones:

• Business plan completion;
• 10th customer;
• Revenues exceeding $50,000;
• Profitability.

Web Plan Summary

The website will be used as a marketing tool. It will offer a description of the services offered as well as a listing of different clients served.

Website Marketing Strategy

The plan for marketing the site is fairly simple: submission to search engines such as Google and listing the website on all of the company’s correspondence and printed marketing/sales media.

Development Requirements

Green Power will utilize a local programmer to build the site.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The company will be lead by the husband and wife team of Dan and Sue Lang. Dan grew up in Oregon and attended the University of Oregon for his undergraduate education. Dan’s major was environmental studies and business. After graduation Dan worked for a year at an environmental testing company. Through general networking, Dan was introduced to one of the three principals of a company called The Seal Company. The business model for this company was to make assessments for private and public companies as to their environmental impact. His position with The Seal Company provided him with wonderful insight into the industry of environmental assessment and helped provide him with a foundation of knowledge regarding green energy, just one of the areas of assessment. After a year of this Dan enrolled into the University of Oregon’s Master’s Architect program, taking course work in environmental design. This degree would provide Dan with the skills to make a larger impact in his community.

Sue went to the University of Burlington for undergrad and then moved out to Oregon to attend Willamette University’s MBA program. After her degree Sue moved up to Portland and worked for the Bonneville Power Administration where she worked in their renewable resource division. Much of her projects were marketing based, trying to gain public acceptance of renewable energy sources.

Personnel Plan

For the first three months of business the organization will be quite lean, consisting of just Dan and Sue. Dan will be responsible for most of the business-related issues as well as doing research and helping out with the work projects. Sue’s responsibilities will be marketing and sales based. She will work hard on developing visibility for the company as well as working with prospective customers. Green Power has forecasted that on month four it will need administrative assistance. The duties will be answering the phone, some input accounting, and other clerical functions. Initially this person will be part time but will move to full time at the beginning of year two.

Financial Plan investor-ready personnel plan .">

The following sections will outline the important Financial Assumptions.

Important Assumptions

The following table details important Financial Assumptions.

Break-even Analysis

The Break-even Analysis is indicated below.

Projected Profit and Loss

The following table and charts will indicate Projected Profit and Loss.

Projected Cash Flow

Projected Balance Sheet

The following table will indicate the Projected Balance Sheet.

Business Ratios

The following table contains typical Business Ratios of both Green Power as well as the industry as a whole.

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Steps to Create Your Company’s Renewable Energy Strategy

August 1, 2018

Denielle Harrison

Former Manager, BSR

At the Global Climate Action Summit this fall, stakeholders from around the globe will meet in San Francisco to discuss how we can take climate ambition to the next level . Business can play a significant leadership role in accelerating the transition to a lower-carbon economy, and as we have seen through initiatives like the Renewable Energy Buyers Alliance (REBA) , renewable energy can be a key component of climate action efforts.

Corporate renewable energy procurement should be guided by a defined strategy based on available options, key priorities, and ambition. To create your strategy, you must identify your company’s motivations for procuring renewable energy, adopt supporting goals and commitments, and identify available internal human and financial resources to aid execution.

These are the steps we would suggest to help you get started.

1. Assess Your Options

The first step is to assess the landscape of renewable energy sourcing options available on the market to determine what is feasible. This will ultimately determine the renewable energy options available to you.  

Current and future policies will impact renewable energy costs, incentives, and availability. The Climate Policy Tracker can be a useful tool in assessing how regulations will impact your renewable energy choices in various jurisdictions.

After narrowing procurement options based on geography, your company must consider specific site constraints. Here are some questions to consider:

• Is your real estate portfolio suitable for onsite renewable energy generation? Leased assets often pose a challenge for onsite generation, requiring companies to liaise with their landlords; however, renewable energy availability also poses a challenge. For example, a company that leases retail space in an urban locality with poor solar energy potential may not have the option of leveraging onsite renewable energy, despite a supportive landlord.
• If your real estate portfolio is suitable for onsite generation, what is the energy capacity of potential projects/installations? Companies with owned or leased assets that support onsite renewable energy generation should consider the energy capacity of any potential projects/installations and use this to calibrate their local procurement implementation. Asset type and energy capacity should be significant considerations when negotiating contract terms with potential project developers.
• What is your time horizon? Long-term contracts should not be considered for sites that are likely to be eliminated from the real estate portfolio before the termination of the power generation contract.

2. Create Your Strategy

Once you’ve determined what your renewable energy options are, the next step is to determine your ambition level and define your strategy for renewable energy. To ensure adoption and integration within your company, this should complement both your business and sustainability strategies. A company with existing energy intensity, greenhouse gas reduction, and business growth goals should design a renewable energy strategy that complements existing objectives and initiatives to facilitate execution. Available financial resources should factor prominently into this and will ultimately dictate the realistic level of ambition your company can set.

Your strategy should reflect your company’s motivation for renewable energy procurement. For example, a company seeking to grow the renewable energy market and illustrate private-sector demand for clean power may prioritize options like new onsite or regional solar installations and choose to only purchase renewable energy attributes (e.g. RECs) that are bundled with renewable power. One example of this is Intuit’s Purely Green Program , which the company launched in part to show market demand for wind energy in Texas for its business partners, employees, and customers. Adobe’s renewable energy strategy prioritizes onsite installations and PPAs, supported by energy efficiency and policy advocacy, to meet its 100 percent renewable energy goal. Anheuser-Busch InBev’s strategy aims to source roughly 75 percent of its electricity from direct PPAs and roughly 25 percent from onsite installations.

3. Identify Opportunities to Collaborate

While renewable energy procurement variables can be complex to navigate, you do not need to work in isolation. Collaborating with other companies can help you achieve your strategic renewable energy objectives and minimize the barriers to entry for procurement.

For example, you could consider partnering with a group of companies with regional operations who are willing to enter into a shared procurement contract. This approach, known as consortium aggregation, is both feasible for companies with energy demands that are typically individually too small for project developers and companies with significant energy demands that can appropriately distribute the project load. For example, AkzoNobel, DSM, Google, and Philips leveraged this approach in the Netherlands—each company assumed an equal stake in a wind PPA there. The shared contract can also be anchored by a company that assumes the majority share of the energy, leaving smaller companies to assume small shares of the overall project load.

Initiatives like the Future of Internet Power and REBA can also provide the resources and tools for companies to execute against their renewable energy strategies together. Contact us if you’re interested in learning more about how you can help increase your climate ambition with renewable energy in advance of the Global Climate Action Summit.

Let’s talk about how BSR can help you to transform your business and achieve your sustainability goals .

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How to Become a Renewable Energy Entrepreneur

Katie Miller is a consumer financial services expert. She worked for almost two decades as an executive, leading multi-billion dollar mortgage, credit card, and savings portfolios with operations worldwide and a unique focus on the consumer. Her mortgage expertise was honed post-2008 crisis as she implemented the significant changes resulting from Dodd-Frank required regulations.

From photovoltaic solar panels to kinetic energy adapters that generate electricity from pedaling stationary bicycles, entrepreneurs are taking advantage of the green revolution by finding and marketing renewable energy solutions.

Since we use energy for almost everything, the recent trend towards greener, more sustainable technology is creating many opportunities for entrepreneurial-minded individuals.

But is this just a fad? Or are there viable business opportunities for the long term?

Key Takeaways

• Not every entrepreneur is an investor. Consider opportunities for green services.
• Focus on the industries you're most familiar with.
• Consider government financing sources.

Renewables Are Here to Stay

As the global population rises, the reality of finite resources is sinking in. Our energy requirements cannot depend on fossil fuels forever. Advances in technology have allowed us to tap into reserves that were inaccessible in the past, but that only delays the inevitable.

These concerns, along with the negative impacts of burning fossil fuels, have created an environmentally and socially conscious mindset among different sets of economic actors, including consumers, investors, corporations, and governments. Companies and investors looking for profits have taken advantage of consumer interest in cleaner energy alternatives and government-incentivized green business initiatives.

With all these factors driving the shift towards renewable energy, now is the time to start looking for opportunities to help solve the world’s energy problems and, perhaps, make money doing it.

Recognizing the Opportunity

There are innumerable opportunities for implementing an innovative renewable energy solution. However, the best place to start looking is in your own area of expertise. Think about the industries you’ve worked in and how renewable energy could benefit them.

Also, remember that becoming a renewable energy entrepreneur doesn’t mean you have to build your own wind farm or hydroelectric dam. Renewable energy is about more than just electricity generation. It is also about storage, conservation, and distribution.

Product or Service?

You also don’t need to invent a new product or technology. You can get involved in installation, repair and maintenance, or consulting.

Think broadly, and focus on your areas of expertise.

Finally, brainstorm with friends, family, and colleagues about things that people want or need.

Some people build a business around an idea and then try to sell that idea rather than building the business around something people already want to buy. Green consumers are no different.

Green Consumer Challenge

Despite all the hype about environmental sustainability, the evidence suggests that green consumers look for the same things most consumers want: individual benefit at a low cost.

Although the environmentally conscientious market, labeled LOHAS (Lifestyles of Health and Sustainability), is growing, the green market is still relatively niche. Marketing to everyone else means educating consumers on the advantages of renewable energy, including showing them how it can add value to their lives at a lower cost.

Beyond the LOHAS

Consumers are not the only group that one needs to consider when looking for the right opportunity. Think about how the product or service will affect or be affected by others, such as suppliers, the government, the competition, and financing organizations like banks.

All of these actors could have an impact on the success of your business, so it is helpful to think about the role they will play while you’re in the development stage .

Developing a Business Plan

In devising a business plan , it is helpful to determine if there are other businesses in other regions of the world that are already offering a similar product or service. Look at the fundamentals of those businesses and use them as models for developing your own plan.

The percentage of entrepreneurs who invest some personal savings in the early stages.

Regardless of how extensive you decide to make your business plan, you definitely need to do some initial market research and summarize a business concept. You will want to analyze costs, make revenue projections, and set out some key milestones for developing and launching your business.

Talk to Potential Customers

Remember to conduct interviews with potential customers in order to get a sense of the demand for your product or service and how best to introduce it to the market.

Also, contact suppliers to get price quotes on materials and services that you will need to manufacture your product or deliver your service.

Once you’ve completed your business plan, it is time to figure out how you are going to finance your business.

Financing Your Business

Every business succeeds or fails on the basis of its ability to sustain itself financially, but it could take some time before revenues are large enough to cover costs.

Although there are a number of financing options for new businesses and startups, the research shows that almost 90% of entrepreneurs invest some personal savings at the early stages of their business. And more than 74% said that personal savings were the primary source of initial financing. Using your own savings may also show other potential investors that you are serious about the future of your new venture.

The Options for Financing

Some entrepreneurs obtain financing from banks, venture capital , angel investors, or the government. The first two options may be harder to obtain in the early stages as they tend to demand to see an existing company with strong growth potential before forking over the money. Angel investors, those who offer new and fledgling businesses capital in exchange for equity, are also possible funding options, but tend to offer smaller amounts.

While it can take some time to receive approval and not all businesses are eligible, government funding could be a good way to go given the numerous incentives for cleaner, more sustainable technologies and services.

Visit the U.S. Department of Energy site for current energy efficiency and renewable energy funding opportunities and the National Renewable Energy Laboratory (NREL) site for renewable energy project financing information.

The Bottom Line

Once you’ve had an idea, made a plan, and figured out how to finance your business, you’re on your way to becoming a renewable energy entrepreneur.

But the work has just begun. Now you’re going to have to convince consumers to spend money on your product or service. This is not easy, but it can be rewarding, especially considering that you're sustaining not only your livelihood but that of people all over the world for generations to come. Renewable energy entrepreneurs may just save the planet yet.

RetailMeNot. " 4 in 5 Consumers Think Eco-Friendly Products Cost More 'Green .'"

Eric Koester. " Green Entrepreneur Handbook: The Guide to Building and Growing a Green Business ," Page 88. CRC Press, 2016.

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How to start a solar business — the basics

Want to learn more about the solar industry? Join us for Empower 2024 on June 5-6! You’ll hear from industry experts on everything from how to run a successful solar business, to how AI is affecting the industry, and more.

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Note: This blog was originally published in February 2021. It was updated October 25, 2023 to reflect recent information. If you have any questions, please contact us .

The solar industry is growing, and its sun is still just starting to rise. Solar power continues to lead the way when it comes to renewable energy — and arguably energy in general. According to SEIA data, in the first half of 2023, 45% of all new electric capacity added to the US grid was from solar. 

Likewise, solar installation professionals is among the fastest growing professions in the United States. The trade is projected to enjoy a 22 percent growth rate between 2022-2032, and the 2022 median income was $45,230 per year. 

This data represents a promising prospect for contractors looking to cut their teeth in this exciting business. If you’re wondering what it takes to start your own solar business, this post is for you.

How to start a solar business — beginnings

Of course, there’s much more to solar installation than slapping up panels: there’s general contracting, roofing, metal fabrication, sales, repair and maintenance, consultation, landscape design, and so much more.

The best place to start a new solar business is between the cracks of large, over-saturated markets. Find out what solar professionals are doing in your area by checking in with local SEIA chapters and chambers of commerce, and conducting internet searches. It’s highly likely that even if your market is saturated with traditional solar businesses, you can find a niche that only you can fill.

Solar incentives

Becoming an expert means more than knowing your product. It requires having your finger on the pulse of the various rebates and incentives available, an important differentiator for companies looking to get ahead of the pack. Businesses that do the research to save their customers time and money have a leg up when it comes to getting the contracts.

Solar sales

Starting a solar business doesn’t necessarily mean you’ll need a crew up on roofs installing panels. If sales is your thing, there are many businesses that focus on just that. 

These companies do all the work of selling solar systems : getting leads, qualifying them, doing in-home or virtual consultations, and getting the customer to sign. Once a customer has signed on, these organizations then work with a contractor that takes care of the rest of the installation process.

With the recent improvements in solar sales software, it’s easier than ever to stand out from the crowd. Click through this Tourial to see how Aurora’s reimagined Sales Mode can help you sell with confidence and close more sales.

Solar installers

Solar installers are usually the most saturated business in the market. If you’re wondering how to start a solar installation business , you might want to start at the basics: Roofing. If you’re a roofer, solar installation could be a great option to add to your business. The solar and roofing industries are starting to converge, and for good reason. Solar panels and roofs have about the same lifespan (approximately 25 years), and savvy roofers are realizing the one-two punch of installing a new roof and solar system simultaneously. Whether you’re a roofing contractor or solar installer, there’s a lot of overlap between the two, and plenty of untapped market opportunities for incorporating roofing and solar into your business plan.

What is a PV system?

Before we move on, let’s take a quick look at how a PV system works to get a better idea of how you can make money building one.

How does a solar photovoltaic system work?

Solar panels convert the energy of the sun into electricity through a process called the photovoltaic effect. When a photon hits a photovoltaic (PV) device, its energy knocks electrons in the material. These electrons begin to flow, producing an electric current.

At a high level, the process of how solar panels works involves three primary steps:

• Solar cells within solar panels absorb light from the sun, which causes electric current to begin flowing.
• An inverter converts DC electricity to AC electricity .
• This electricity is used to supply current energy demands in the customer’s building and excess electricity beyond what the customer can use is exported to the grid (or used to charge a battery).

The photovoltaic process occurs at the solar cell level. Solar panels are composed of multiple cells, and PV systems are a series of solar panels wired together (called “ stringing ”) to provide appropriate voltage to the system’s inverter.

After a PV system is installed , there’s nothing standing between a customer and cheap, green energy.

Solar company licensing & certifications

Solar licensing.

Not every state requires solar licensing, but some do. Keep in mind that if you’re planning on working outside of your home state, you’ll need licenses for any state you want to work in. For states requiring licenses, you’ll often need a plumbing or electrician license, or both. Some states require a specialized solar contractor license.

Check here to check on what type of licensing you may need in your state, region, or municipality.

Solar certifications

Even if you don’t need a license to operate in your area, earning a solar certification is a great idea. Solar certifications are an important way to promote customer confidence, putting you ahead of the average uncertified business. 

Certification can also lead to more income, with certified solar professionals earning an average of $11,000 more annually. Getting certified may also allow you to operate in more than one municipality or state, increasing your competitiveness.

The North American Board of Certified Energy Practitioners (NABCEP) voluntary certifications provide national standards for PV professionals, certifying they have the skills, experience, and competency to set themselves apart. NABCEP’s certifications include :

• PV Installation Professional (PVIP)
• PV Design Specialist (PVDS)
• PV Technical Sales Professional (PVTS)
• PV Installer Specialist (PVIS)
• PV Commissioning & Maintenance Specialist (PVCMS)
• PV System Inspector (PVSI)

Set up your solar business

You’ve nailed down your niche, identified solar certifications and licenses, and are ready to make the jump. Let’s take a dive into how to start a solar business from the ground up, starting with the legal stuff first.

Establish an LLC

An LLC, or limited liability company, is a business structure set up by state statute. LLCs provide several benefits, including liability protection, flexible structure, and tax advantages. They provide the same limited liability as a corporation but are much cheaper and easier to form and operate.

In most states, getting an LLC entails choosing a name, selecting members (which can include just you), creating articles of organization and operating agreements, and getting an EIN (employer identification number). You’ll then need to obtain any seller’s permits and licensing required by your state. Check your state’s LLC requirements for more information.

Business insurance

The right insurance coverage is essential to mitigate potential risks and liabilities. Every contracting business must meet general insurance requirements, but there are a few considerations specific to the solar industry. Here’s your solar business insurance checklist:

• General liability insurance
• Workers’ compensation
• Automobile liability insurance
• Excess/umbrella liability insurance

Most contractor general liability insurances provide a minimum of $500,000 coverage. Keep track of your inventory, equipment, and properties, and get the right insurance that would cover the worst-case scenario. Do yourself a favor and get the right insurance before you even land your first contract. Click here for an in-depth look into the right solar business insurance .

Establishing a solar team

1. how to find salespeople.

Salespeople are the backbone of most solar businesses. Regardless of your niche, chances are that someone on your team is making at least part of their paycheck knocking on doors and making phone calls.

When seeking out a salesperson, here are three elements to consider when vetting your candidate pool:

• Knowledge about your niche
• Passion and persistence
• Familiarity with questions and concerns that customers have about solar

It’s crucial that you foster a culture of customer satisfaction in all of your employees, but salespeople in particular. They are usually the folks leading your conversion process and are often the face of your business.

If an in-house sales team isn’t feasible, there are several options available for sales outsourcing. Many businesses exist that specialize in outsourcing solar sales for installers, consultants, and retailers.

2. Ramping up a team

Start out with nothing but the best right from the gate. Find team members that are NABCEP certified (see above). If your team isn’t certified, give them the time and resources to do so.

Make sure your salespeople, installers, marketing team, and others know the ins and outs of your product. Give everybody on your team the time and resources to learn about your product and services.

Your dream team doesn’t have to be all employees. Network with other solar experts outside of your niche. They will become invaluable sources of help and referrals if you keep at it.

3. Setting up compensation structures

Solar salespeople are usually paid by commission. Commission payouts are usually paid as a percentage of the total contract price or as a cut of the base contract price. 

Commissions have various pros and cons. On one hand, they can motivate your teams to work hard. On the other hand, commissions may encourage your salespeople to sell more than a customer needs, take on cost-prohibitive projects, and inflate project costs above market rates.

Read more on common commission structures in the solar sales industry today.

Pro tips: Avoid these solar sales barriers

There are many barriers when it comes to getting a solar business off the ground. Here are three common ones that can be easily solved with the right solar software.

Incorrect or inefficient designs

It’s all too easy to under- or over-engineer a solar system. Incorrect or inefficient designs are a surefire way to sink your business. Aurora Solar’s sophisticated solar design software uses technology like LIDAR-based shade analysis and AI-assisted 3D modeling to give you a pixel perfect design almost instantly — without a truck roll.

Electric quotes from customers

Customers are often wary of providing their electricity bills. Just a few days can mean the difference between landing a new customer and losing them, so make this process as seamless as possible for your customers.

Most electric customers receive a bill in the mail every month. If they don’t, they can likely access it online from their utility. Either way, Aurora can provide a forecast of year-round energy usage from just one month’s bill — taking into account factors like weather, HVAC, and more.

Take this opportunity to remind your customer that making efficiency upgrades in the home could drastically improve energy efficiency. 

And don’t forget to study up on the net metering rules for your state. Being able to sell excess power back to the grid can be a huge selling point for solar installations.

Permitting problems

Flawed designs can lead you straight back to the drawing board. If a solar design isn’t compliant with state or local regulations, your plans will be rejected. Collecting and reporting permit-related project data constitutes up to 8% of soft costs associated with solar, owed largely to mistakes and regulatory bottlenecks. 

Aurora’s Plan Sets Service expedites your post-sales permitting process. It’s also a great tool for new businesses looking to scale without the growing pains and backlogs of permitting — Aurora can handle any growing volume of plan sets you need.

See how it works in the Tourial below.

Starting a solar business takes research, investment, time, and leadership. But, it can be worth the effort, providing a great career in a growing and fulfilling industry. 

When you do start your business, make sure you have a software solution that sets you up for success. Schedule a free demo today to see how Aurora can help you get started in the solar industry.

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How to Start a Renewable Business

Our sources of energy are becoming more and more scarce and increasingly expensive, and eco-friendly green living is becoming more an essential than optional. Correspondingly, starting a renewable product or energy business can be a profitable endeavor that does our environment some good as well. Many renewable energy businesses requires no start-up fees or formal training.

• Determine what type of renewable business you wish to establish. Many types of business opportunities exist in renewable and green energy fields with different goals, objectives, expenses and operational procedures. For example, Energy Automation Systems provides a solar products affiliate sales program for energy conservation with a one-time start-up fee of $59,000 at the time of publication. On the other hand, a solar panel cleaning business offered by the Solar Maid Company requires no franchise fees or royalties.
• Check what permits you might need. Check with your local governing agencies, such as the secretary of state, county commissioners or city council to determine what -- if any -- types of business licenses and permits you need to legally operate your business. Business license regulations vary from state to state, but no matter where where you operate, the IRS requires that you have an employer identification number to claim your earnings and pay your taxes. You can apply for an EIN by visiting the IRS website.
• Educate yourself about the green and renewable energy industry. Though you don't need to have a college degree to become a professional in the renewable energy industry, it does require knowledge and passion to succeed. Research all aspects of the environmental state, national recycling and energy efficiency statistics, product evaluations and consumer needs for renewable sources. Look for business opportunities that include training programs, seminars and support.
• Carefully investigate your potential suppliers. Unfortunately, some renewable energy companies don't survive long due to poor business habits or inferior products. Once you've narrowed your options for investments, affiliate participation or service agreements, conduct a background check on the companies you are interested in working with. Search for all available reviews and rating with the Better Business Bureaus before joining any affiliate programs or making an investment.
• Create business and marketing plans. Your business plan is basically a handbook guiding you -- and your investors -- through each step of building your company. Include an executive summary, product information, operational procedures, financial aspects, goals and projections. Create a solid marketing strategy outlining your target consumer and how you plan to reach them--advertising, social media, sales calls and other avenues.
• Acquire any necessary capital. Depending on the type of renewable business you are establishing, you may be eligible for grant funding. Check with U.S. Small Business Administration or Grants.gov to see if you qualify for any small-business grants. You will likely need to write a proposal, complete an application and provide copies of your business and marketing plan. If you are ineligible for energy business grants or are in need of additional funding, explore loan opportunities.
• Pinpoint your target consumer and execute your business and marketing plan. Once you have settled the logistics of your start-up and secured necessary funding, it's time to engage your target consumer and make the sales pitch. Research local demographics to determine where the most potential customers are. Look for businesses, homeowners, landlords, school districts, construction companies and other facilities, organizations and consumers that would benefit from your renewable products or services.

More For You

Government energy saving grants, how to start a reseller business, how to start my own manure selling business, how to open a pumpkin farm, how to get a loan for a first time business.

• Energy Consumers Edge: Renewable Energy Start-Up Business Investing
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• To ensure a smooth start-up, consider having consultations with industry professionals such as accountants, legal advisers, grant writers and business and marketing specialists.

Michelle Renee is a professional trainer and quality assurance consultant in the career, education and customer service industries, with two decades of experience in food/beverage and event coordinating management. Renee has been published by Lumino and Career Flight as well as various food, education and business publications.

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Energy Strategy for the C-Suite

• Andrew Winston,
• George Favaloro,

Many companies spend millions or even billions of dollars on energy every year. This is not just costly, but also represents an often overlooked opportunity to reduce risk, increase resilience, and add value across the board. As environmental concerns grow more urgent and new technologies emerge, companies must respond to these shifts with a robust energy strategy. This article offers a five-step framework to revamp your company’s energy policy: Create a C-level mandate, integrate energy goals into the vision and operations, track progress companywide, tap new technologies, and engage stakeholders.

Energy is no longer merely a cost to be managed.

The Problem

Sweeping environmental, social, and business trends have propelled energy up the corporate agenda. But most firms still approach energy as merely a cost to be managed.

The Solution

Companies need a cohesive energy strategy that reduces risk, improves resilience, and creates new value.

Companies must create a C-level mandate, integrate energy goals into their vision and operations, track progress companywide, tap new technologies, and engage stakeholders. These steps are not revolutionary—but systematically applying them to a company’s energy use is.

Large companies spend millions, or billions, of dollars directly on energy each year—and millions more indirectly, on supply chain, outsourcing, and logistics costs. Yet outside the most energy-intensive industries, the majority of firms approach energy as merely a cost to be managed. This is a strategic mistake that overlooks enormous opportunities to reduce risk, improve resilience, and create new value.

• Andrew Winston is one of the world’s leading thinkers on sustainable business strategy. His books include Green to Gold , The Big Pivot , and Net Positive . AndrewWinston
• George Favaloro  is a managing director in the sustainability services group at PwC. Follow him on Twitter @GeorgeFavaloro.
• Tim Healy is the chairman and CEO of EnerNOC, an energy intelligence software provider.

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New energy businesses: The independence versus integration dilemma

There is enormous value at stake in the energy transition as the world continues to move toward cleaner energy. Electrification and renewables, in particular, show accelerated growth, with electric power and hydrogen expected to represent 32 percent of the global energy mix by 2035 and 50 percent by 2050 (Exhibit 1). It’s hardly surprising that energy incumbents are entering this new energy space. The potential 2030 market opportunity in new energy businesses is estimated at $3 trillion, with top energy majors expected to make an average investment of $35 billion between 2022 and 2030. 1 McKinsey analysis.

About the authors

This article is a collaborative effort by Esmee Bergman , Ignacio Fantaguzzi, Christopher Handscomb , Jesper Ludolph, and Phil Quadri representing views from McKinsey’s Global Energy & Materials Practice.

As many energy majors embark on their own new energy business ventures, an important question on their minds is whether they can strike the right balance between dependence and independence, harnessing the advantages of being an incumbent while enabling the agility of a start-up.

With new energy businesses in their early days, there are no definitive answers to this question of independence or integration; different types of new businesses are seeing initial success with different operating models. However, there are key choices and considerations that can help incumbents avoid the most common pitfalls of business building. This article explores the different operating models chosen for new energy ventures by companies with an established incumbent business (for example, oil and gas and utilities).

Why the right choice matters

Leaders can underestimate the difficulty of starting a new venture within the boundaries of existing processes, systems, culture, and behaviors. New businesses often fail to scale. Only 16 percent of executives in Fortune 100 companies report that their corporate business builds have achieved blockbuster success after four years. 2 Matt Banholzer, Markus Berger-de León, Subu Narayanan, and Mark Patel, “ How industrial incumbents can create new businesses ,” McKinsey, November 13, 2019. The remainder were partially successful at best.

Disruption was once considered the domain of start-ups. Today, however, incumbents are actively using this strategy themselves to disrupt the industry. Incumbents are rightly asking how to strike the right balance between dependence and independence when it comes to their new energy business.

The pressure to make the right choice is enormous, given its impact on operational performance. Clear prioritization and end-to-end accountability for business units and teams, for example, can drive an uplift of more than 30 percent in operational performance. Ensuring purpose and the ability to operate autonomously to get things done can increase employee engagement by 30 percentage points. And creating teams of doers and removing red tape can turn plans into action five to ten times faster than if the incorrect operating model has been chosen. 3 Wouter Aghina, Christpher Handscomb, Olli Salo, and Shail Thaker, “ The impact of agility: How to shape your organization to compete ,” McKinsey, May 25, 2021.

Weighing the options

Corporate structures for new energy businesses range from full business separation to full integration within the core business, each with its own benefits and risks.

Full separation

Case study: eni creates an independent renewables business—plenitude.

In 2023, Eni, a leading energy company, decided to fully carve out their renewables business in order to diversify their portfolio and accelerate their growth. As part of this process, they combined their existing renewables generation business with their retail, energy management, finance, and environmental, social, and governance operations. 1 Eni retail and renewables capital markets day , Eni, November 22, 2021. In doing so, a financially self-sufficient company was created with an entirely independent operating model from the parent company, with some exceptions on risk management, compliance, and selected audit processes. The board of the new venture was made up of independent board members as well as several members selected from the parent company.

Creating the fully independent organization, Plenitude, allowed them to integrate the renewables value chain (from generation to consumers), better position this part of the business to attract “green” financing, and achieve a higher valuation for the combined entities.

In separation model, the new business can be set up as a separate entity (such as a subsidiary). As a subsidiary, the new business has its own legal and financial structure, leadership team, processes, and people model. In many cases, it is largely funded by the parent company but often attracts additional external funding and partners (see sidebar “Case study: Eni creates an independent renewables business—Plenitude for an example of this approach).

BP partnered up with a renewables venture

An example of a partnership approach is LightsourceBP. In 2017, BP initiated a collaboration with Lightsource Renewable Energy, investing $200 million for a 43 percent stake. 1 “The deal on the Lightsource deal,” bp, March 15, 2018. Two years later, this collaboration became LightsourceBP, a 50:50 joint venture. For BP, it offered a way to establish a start-up-minded renewables business with solar expertise. Conversely, Lightsource Renewable Energy gained credibility, capital, and process standardization through the BP association, leading to rapid growth in the pipeline from five markets and 1.5 gigawatts (GW) to 19 markets and 55 GW in the pipeline in just five years. 2 “Better together: Five years of Lightsource bp,” bp, December 14, 2022.

Currently, LightsourceBP is transitioning to closer integration within BP’s Gas and Low Carbon unit, aiming to share the capabilities, experience, and learnings from their other technologies (for example, onshore wind).

What can we learn from this? Opting for this level of independence for the new venture offers autonomy and decision making free from the processes in the parent company which are often designed for a different type of business. External talent can infuse an entrepreneurial mindset and drive rapid expansion. However, such independence potentially sacrifices benefits like access to the parent company’s customer base, stakeholder network, distribution channels, and assets. It also necessitates establishing its new processes, systems, and support functions.

An alternative approach is to form a partnership with an existing renewables venture. The incumbent often provides the brand, access to customers, capital, and seconds specific key capabilities into the venture while the renewables venture provides the lean governance, processes, and culture required to grow at pace (see sidebar “BP partnered up with a renewables venture” for the story of how BP formed a joint venture to accelerate their solar business).

Integration into the existing structure

Edp renewables goes through a journey with varying levels of integration over time.

EDP Renewables (EDPR), one of the largest renewables players in the world, has been through a journey in terms of its level of independence.

EDPR’s origin story is closely tied to EDP’s strategic decision to expand into the renewable energy sector. In 2006, EDP created a dedicated division focused on renewable energy, which laid the foundation for what would become EDPR. This division was tasked with developing, building, and operating renewable energy projects, with a particular emphasis on wind power.

Over the years, EDPR experienced significant growth and in 2008, EDPR completed its initial public offering (IPO), becoming a publicly traded company. 1 Alex Bugge, “EDP raises $2,4 bln in renewables unit IPO,” Reuters, June 2, 2008; “EDP Renováveis announces launch of its IPO at a price range of €7.40 to €8.90 per share,” EDP, May 15, 2008. This move allowed it to access additional capital for its renewable energy projects and signaled its commitment to further growth and expansion. Over time EDP and EDPR’s story has remained closely intertwined. This is a story about creating a renewables unit flexible enough to grow in an environment closer to a start-up than the conventional business with the ability to raise external capital needed to do so. EDP always retained more than 70 percent ownership of their EDPR listed subsidiary and they continue to be core to EDP with a shared CEO and CFO. 2 Capital markets day , EDP, 2023.

Many incumbents choose to set up a new energy business within their existing structure, with varying degrees of independence. The level of independence may vary over time, driven by the maturity of the business, the type of technology, and perceived synergies with the core business (see sidebar “EDP Renewables goes through a journey with varying levels of integration over time” to read the story of how EDP evolved the level of integration of their renewables business over time). This is a choice we also see in Equinor and others where the business is kept closer to the core when incubated and, over time, given more independence as it matures.

A more integrated new energy business, especially in the early phases, allows incumbents to provide their new ventures with advantages not available to an independent venture. These include customer access, brand recognition, negotiation leverage, stakeholder relations, existing base of suppliers, talent, intellectual property, distribution capabilities, as well as easier access to capital.

There is still a spectrum in terms of the level of integration across five relevant dimensions: steering model, who sets targets, capital allocation process, talent approach, and operational processes (Exhibit 2).

The first factor to consider is the steering model of the new business. In addition, incumbents need to decide what level of control the core business will have over the new energy business, and which part of the business sets the strategy and targets for the new venture. Capital allocation needs to be considered as does the talent approach. Where will the new energy venture source its talent and capabilities—from within the core business or from outside the core? And, lastly, what are the operational processes that the new venture will use, and specifically, which parts of the business are involved in project delivery?

Organizations make different choices on each of these five dimensions when setting up their new energy business. However, for capital allocation, we do see a trend that the large majority chooses to allocate an envelope to the new business with stage gates to release funding. For their talent approach, many of the oil and gas majors start out using a very integrated HR process but over time move to more independence for the new businesses.

Integrating a new business into the core traditional business of an incumbent does not come without risks. It is important to make sure entrenched ways of working, relatively cumbersome processes (compared to those of a start-up), cultural norms, and mindsets do not hamper the success of the new venture. Incumbents must be mindful of the risks and purposefully mitigate those.

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Based on our experience, eight imperatives are starting to emerge that leaders could consider when starting a new business that is integrated within the existing business:

• Avoid short-term earnings pressure. Start-ups often prioritize market share and scale over short-term profits. If a parent company pressures its new businesses to meet return thresholds similar to the parent company’s, they are more likely to make decisions that limit long-term prospects.
• Provide rapid access to capital. Access to capital is fundamental for scaling. The operating model could facilitate securing the necessary funding for projects, whether through internal resources, external investments, or partnerships. Financial flexibility is key to seizing growth opportunities when they arise.
• Allow customization of core processes and project design. Streamlining operational processes is essential for cost-effectiveness and scalability in a low-margin industry (especially compared to major capital projects in oil and gas). Lean and efficient processes help manage project delivery, reduce overheads, and allocate resources effectively. In addition, designing projects with scalability in mind is essential. The new business could be set up to replicate successful project models in different markets, minimizing the need for reinventing the wheel.
• Create shortcuts for decision-making processes and avoid red tape. A parent company’s bureaucracy can limit the ability to make quick decisions. The new business could be allowed to make swift decisions without being bogged down by bureaucratic processes. A streamlined decision-making framework accelerates the response to market opportunities and challenges.
• Freedom in talent acquisition and retention. Attracting and retaining top talent is crucial. The setup could enable the new energy business to recruit skilled professionals who are passionate about the renewable energy sector. Offering competitive compensation, growth opportunities, and a compelling employee value proposition (EVP) is vital to building a talented workforce.
• Allow for partnerships and ecosystem integration. Building strategic partnerships within the new energy ecosystem can accelerate growth. Collaborating with other industry players, research institutions, and start-ups can provide access to complementary capabilities, technologies, and markets.
• Autonomy when setting up enabling services and platforms. Our research shows that successful business builders grant their new businesses considerable autonomy in core IT, marketing, data and analytics, and HR while making sure the new business stays aligned with the overall strategy of the company. 4 2021 Global report: The state of new-business building , McKinsey, December 6, 2021.
• Entrepreneurial culture, aligned with the values of the parent company. Ensure that the new business’s culture, while different, aligns with the mission and values of the parent company. A cohesive cultural framework fosters collaboration, knowledge sharing, and a sense of purpose.

By carefully considering these critical factors, incumbents can position themselves for rapid growth and success in a competitive and evolving industry.

The first steps for incumbents

Choosing an operating model for a new energy business isn’t a matter of right or wrong—it’s about being clear on the choices and consequences. Striking the balance between dependence and independence to harness both the strengths of incumbency and the agility of start-ups is a complex challenge. The next steps for established energy majors involve carefully weighing the options, understanding the spectrum of integration, and mitigating potential risks.

To navigate this transformative journey successfully, leaders can consider various factors, including how much the new venture would benefit from customer access, brand recognition, negotiation leverage, stakeholder relations, existing base of suppliers, talent, intellectual property, distribution capabilities, as well as easier access to capital. They can also ask whether any of these benefits can be provided while balancing the need to create a lean, fast-growing organization with a different metabolic rate than the traditional business.

Once the corporate structure and level of independence versus integration have been chosen and the business has started, the next questions arise. How do you accelerate growth and scaling in terms of project pipeline, required workforce, and capability building?

In terms of growing rapidly, new businesses can look at acquisitions as one potential avenue for accelerating growth. An acquisition not only provides access to physical assets and partnerships, it also offers access to a new talent pool when executed well. For example, new businesses were 25 percent more likely to significantly exceed expectations when they made two acquisitions early in the scaling process compared to businesses that made no acquisitions or that made three or more. 5 2021 Global report: The state of new-business building , McKinsey, December 6, 2021. The new venture may need an “acquisition playbook” to ensure successful integration and retention of talent and constant screening of acquisition targets.

For talent strategy, the new business could focus on improving its EVP scores to attract and retain talent. Leaders could consider their EVP right from the start by designing an action plan that gives them a talent advantage.

On the leadership front, leaders need to operate with substantially greater speed and entrepreneurialism when entering the new energy sector. They may need to develop innovative ways of collaborating, both within their organizations and in the emerging energy ecosystems. A major challenge is attracting and retaining talent in an environment where traditional energy companies are under intense negative public pressure. These leadership challenges will be more keenly felt in the more integrated operating model, where leaders have to be the bridge between the old and new worlds.

New energy businesses have the potential to thrive, and many incumbents are eager to enter this high-growth space. The operating model that energy players choose can directly impact the success of their new business, and incumbents need to decide what strategy would best suit their business needs. This decision is only the beginning, but it can pave the way for future success.

Esmee Bergman is an associate partner in McKinsey’s Oslo office; Ignacio Fantaguzzi is a partner in the Houston office; Christopher Handscomb is a partner in the London office, where Phil Quadri is an associate partner; and Jesper Ludolph is a partner in the Bengaluru office.

The authors wish to thank Andre Anacleto, Oriane Chamoun, Sherlyn Chen, Tom Coxon, Lena Lindvall, Hege Nordahl, Des Paschou, and Christian Repole for their contributions to this article.

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Why using only renewable energy is a strategic business imperative

Unlock competitive advantage, resilience, and a greener bottom line through a renewable energy transition

The transition to a 100 percent renewable energy model by 2030 for internal company operations and by 2040 for franchise and third-party processes are ambitious goals – and a strategic imperative for forward-thinking businesses. This shift absolutely delivers environmental benefits but it also creates a competitive advantage, bolsters resilience, and drives long-term profitability.

The obvious business advantage is cost savings. The specifics will vary by region but, overall, the costs for renewable energy are declining. Moreover, in some markets, investing in greener options can help companies lock in more stable energy agreements and mitigate exposure to the volatility of electricity prices. Companies interested in self-generation can also take advantage of government subsidies, tax credits, and other incentives, reducing initial investments and shortening payback periods.

There are also benefits that are less quantifiable. Early adopters can gain a competitive edge by getting ahead of regulatory changes and customer preferences, setting industry standards, and influencing market trends. Progressive energy policies can also foster community goodwill and create local jobs.

A commitment to sustainability, including renewable energy adoption, is rapidly becoming a business imperative. Investors, consumers, and employees are increasingly demanding it. A recent Capgemini Research Institute report, A world in balance 2023: Heightened sustainability awareness yet lagging actions , found organizations are increasingly prioritizing social sustainability as defined by the UN Global Compact. Social sustainability programs identify and manage the impact businesses have on employees, customers, and surrounding communities at every stage of the supply chain.

Companies transitioning to renewable energy will encounter a number of options and products, and their selection criteria needs to be influenced by operational costs, environmental quality, organizational characteristics, regional specificities, and product features. This requires a systematic and data-driven approach to determine the optimal mix of options.

• Inspiration
• Top Startups

11 Emerging Renewable Energy Startups

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As the world accelerates its transition to sustainable energy sources, innovative startups are emerging as key players in shaping the future of renewable energy. These companies are pushing the boundaries of technology and business models to address critical challenges in clean energy production, storage, and distribution. From advanced battery technologies to novel approaches in carbon capture and sustainable investing, these are the top renewable energy startups to watch this year. 

Top Renewable Energy Companies to Watch

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the most exciting renewable energy startups of 2024 that startup-lovers, investors, and aspiring entrepreneurs should follow. 

Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below aren’t officially ranked and are listed in no particular order.

1. Gaussion

• Location: London, England
• Founder(s): Dr. Thomas Heenan, Dr. Chun Tan
• Founded In: 2017
• Funding: Series A, $15.6 Million
• Investors Include: Autotech Ventures, AlbionVC, BGF

Gaussion is focused on developing advanced battery technology for electric vehicles (EVs) and energy storage systems. The company works on innovative cathode materials and cell designs to improve battery performance, energy density, and charging speeds. Gaussion’s goal is to create batteries that can significantly extend the range of EVs and enhance the efficiency of renewable energy storage, potentially accelerating the global transition to sustainable energy.

2. Heimdall Power

• Location: Oslo, Norway
• Founder(s): Brage Johansen, Marie Højvig, Anders Skånlund
• Founded In: 2016 
• Funding: Series B, $53.7 Million
• Investors Include: Orlen, NRP Zero, Sarsia Seed

Heimdall Power provides real-time monitoring and analytics for power grids. The company’s technology uses sensors and artificial intelligence (AI) to optimize grid operations, predict failures, and increase the capacity of existing power lines. By providing grid operators with detailed, real-time insights, Heimdall Power aims to reduce energy waste, prevent outages, and enable more efficient integration of renewable energy sources into the existing power infrastructure.

3. H2GO Power

• Founder(s): Dr. Enass Abo-Hamed, Dr. Luke Sperrin, Jonathon Blackburn
• Founded In: 2014
• Funding: Accelerator/Incubator, $3.39 Million 
• Investors Include: Urban Future Lab, Innovation Council Fund, Enterprise Hub – Royal Academy of Engineering 

H2GO Power is making strides in energy storage — particularly hydrogen. Hydrogen is typically stored in large, high-pressure tanks capable of withstanding up to 10,000 pounds per square inch (PSI). H2GO Power Cofounder Dr. Enass Abo-Hamed discovered a more compact storage solution while studying for her doctorate at Cambridge that’s capable of keeping hydrogen in a lighter, safer space.

4. INTI-TECH

• Location: Santiago, Chile
• Founder(s): Nicolás Correa Ojeda, Camilo Garrido, Camilo Contreras, Mauricio Castillo
• Founded In: 2016
• Funding: Accelerator/Incubator, $1.14 Million
• Investors Include: Lorentzen Investments, Alaya Capital, Albi Investments

INTI-TECH has created a Hardware as a Service (HaaS), high-frequency cleaning solution for photovoltaic (PV) plants. The company’s water-free, autonomous robots are cheaper and more effective than traditional cleaning methods and require less staffing. The technology can clean on-demand and weekly at small-scale power plants while larger-scale plants can get customized solutions. The robots are designed for desert and semidesert areas. 

• Location: Santa Barbara, California 
• Founder(s): Zachary Jones 
• Founded In: 2020
• Funding: Series A, $50.6 Million
• Investors Include: AP Ventures, SK Gas, ENGIE New Ventures 

C-Zero develops technology to produce clean hydrogen from natural gas without CO2 emissions. The company’s process — called methane pyrolysis — splits methane into hydrogen and solid carbon, potentially offering a more cost-effective and scalable method of hydrogen production compared to electrolysis. This approach could play a crucial role in the transition to a hydrogen economy, providing a bridge between current fossil fuel infrastructure and future renewable energy systems while significantly reducing greenhouse gas emissions.

• Location: Stockholm, Sweden 
• Founder(s): Peder Broms, Jodok Betschart, Valentin Gönzcy, Tony Kirmo
• Founded In: 2022
• Funding: Seed, $121 Million 
• Investors Include: Broadhaven Ventures, Lowercarbon Capital, 9900 Capital 

Cloover partners with renewable energy professionals to deliver affordable, sustainable home enhancements. By embedding finance options, more homeowners are able to switch to renewable energy sources like solar power and heat pumps with a lower barrier of entry financially. 

• Location: Salt Lake City, Utah 
• Founder(s): Nate Walkingshaw, Gilbert Lee
• Founded In: 2021
• Funding: Series A, $67 Million
• Investors Include: ICONIQ Capital, Convoi Ventures, EPIC Ventures 

Torus manufactures and sells hybrid battery systems that are more powerful and longer lasting than chemical batteries or backup generators. The Torus system includes the company’s innovative battery as well as software with real-time monitoring, smart storage features, and cost-saving predictions to ensure customers receive the maximum benefit from their system. 

8. Climatize 

• Location: Santa Cruz, California 
• Founder(s): Will Wiseman, Alba Forns 
• Founded In: 2019
• Funding: Pre-Seed, $1.75 Million 
• Investors Include: Techstars , Myriad Venture Partners, Climate Capital

Climatize offers a mobile app designed to help individuals take action against climate change while potentially earning returns on their investments. The app allows users to invest directly in local solar projects and energy efficiency upgrades for multi-tenant buildings as well as a broader range of climate solutions. Unlike traditional carbon credits, Climatize provides greater transparency about project locations, community impacts, and potential environmental benefits. By combining climate action with investment opportunities, Climatize aims to empower individuals experiencing climate anxiety to make tangible contributions to sustainability efforts while also potentially benefiting financially.  

• Location: Stockholm, Sweden
• Founder(s): Giovanni Fili
• Founded In: 2009 
• Funding: Debt Financing, $249 Million
• Investors Include: SoftBank Group, Qualcomm Ventures, 3T Invest

Exeger manufactures flexible solar cell technology that converts all forms of light into energy. The technology can then be used to power small gadgets, such as wireless headphones or a self-charging bike helmet with light. The company’s goal is to produce items that billions of people can use in everyday life within the next decade. 

10. Peak Energy

• Location: Denver, Colorado 
• Founder(s): Landon Mossburg, Liam O’Connor, Cameron Dales
• Founded In: 2023
• Funding: Series A, $65 Million
• Investors Include: TDK Ventures, Eclipse, Doral Tech Ventures 

Peak Energy develops innovative energy storage solutions to address the intermittency challenges of renewable energy sources. The company aims to industrialize sodium-ion in an effort to lower energy storage costs and accelerate grid decarbonization. Peak Energy’s solutions aim to enable greater integration of renewable energy into power grids by providing reliable storage capacity during peak demand periods. 

11. 3V Infrastructure 

• Location: Tottenham, Canada  
• Founder(s): Aubrey Gunnels, Benjamin Kanner 
• Founded In: 2008
• Funding: Private Equity, $40 Million 
• Investors Include: Greenbacker Capital Management 

3V Infrastructure specializes in financing, owning, and operating Level 2 EV chargers for various types of properties. The company’s business model focuses on partnering with property owners of multifamily housing complexes, hotels, medical facilities, and other similar establishments to provide EV charging solutions. By taking on the financial and operational responsibilities of EV chargers, 3V Infrastructure enables property owners to offer this amenity to their tenants, guests, or customers without the associated costs and management burdens. 

You Might Also Like…

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• Startups Tackling Fast Fashion
• Startups Helping to Save the Bees
• Startups Tackling Natural Disasters
• Startups Conserving Marine Life

Further Reading

• What Is a Startup? July 2, 2024
• 80 Best Startup Ideas to Make Money in 2024 November 5, 2024
• How to Start a Startup in 10 Steps (2024 Guide) October 30, 2024

Topics to Explore

• Startup Ideas
• Startup Basics
• Startup Leadership
• Startup Marketing
• Startup Funding

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540 Renewable Energy Company Name Ideas for a Sustainable Future

Choosing the right name can set your renewable energy company apart and attract customers. A great name should be memorable, easy to pronounce, and reflect your brand values.

Here are 540 renewable energy company names to help you find the perfect one for your business.

Creative Renewable Energy Company Name Ideas

Choosing a creative name can help your renewable energy company stand out. Here are 30 imaginative name ideas to consider:

• Sunshine Solutions
• GreenFlow Energy
• Nature’s Power
• Clean Current
• Bright Earth Energy
• PureVibe Energy
• FreshWave Power
• Bright Paths Energy
• Solar Sphere
• EarthWise Energy
• Evergreen Energy
• Infinite Energy
• SkyBeam Energy
• Green Horizon
• SunStream Solutions
• Bright Future Energy
• EcoLogic Power
• Sustainable Charge
• Nature Powerhouse
• Fusion Energy
• Solar Synergy
• PowerUp Renewables
• GreenBridge Energy
• LightWave Energy
• TrueGreen Energy

Cool Renewable Energy Company Names

A cool name can make your renewable energy company appealing and memorable. Here are 30 cool name ideas to inspire you:

• EcoThrottle
• SolarFlare Energy
• Velocity Energy
• Radical Renewables
• Green Lantern Power
• Stealth Solar
• NextGen Energy
• WaveRider Energy
• SkyHigh Renewables
• Elemental Energy
• TurboCharge Energy
• Quantum Green
• HydroHorizon
• EcoFreight Energy
• Vibrant Energy
• Revolution Energy
• AeroGreen Power
• ElectraWind
• BrightStar Energy
• SkyHaven Energy
• EcoSphere Power
• Impact Energy
• Infinity Energy
• JetSet Energy

Funny Renewable Energy Company Name Ideas

A humorous name can capture attention and bring a smile. Here are 30 funny name ideas for your renewable energy company:

• Watt’s Up Energy
• Solar Flair
• Watt’s Your Plan?
• Windy City Power
• Shocking Green Solutions
• Let It Glow
• Are You Kitten Me Energy?
• Alternating Current-ary
• Eco-Hilarity
• Green with Energy
• Sun’s Out, Funds Out
• The Energy Avengers
• Whimsical Wattage
• No Current Events
• Watt a World
• Jolly Green Power
• Over the Moon Energy
• Lighten Up Energy
• Solar Giggle
• Power Puff Girls
• Green Light District
• Nature’s Giggles
• Watt are the Odds?
• Charged Up Laughs
• The Green Scene
• Can You Feel the Power?
• Laughing Current
• Watt Happened Here?
• Cackling Charges
• Energized and Amused
• Son of a Watt!

Unique Renewable Energy Company Names

A unique name can set your renewable energy company apart from the rest. Here are 30 distinctive name ideas to inspire you:

• Harmonic Energy
• Radiant Roots
• Solar Symphony
• Vivid Energy Solutions
• Solstice Power
• TerraNova Energy
• Elemental Essence
• Harmony Power
• Renewal Energy Services
• NextWave Energy
• Aether Energy
• Bright Bloom Energy
• Solar Tapestry
• Prism Power
• Synergy Energy
• Blue Sky Solutions
• GreenPromise Energy
• EverBright Energy
• SolarFlourish
• TerraFusion
• Elevated Energy
• PurePath Energy
• Sunlit Springs
• Essence of Energy
• Flourish Power
• NovaGreen Energy
• Zenith Renewables

Cute Renewable Energy Company Name Ideas

A cute name can create a friendly vibe for your renewable energy company. Here are 30 adorable name ideas to consider:

• Sunny Smiles Energy
• Puddle Power
• BumbleBee Energy
• Snuggle Solar
• Happy Harvest Energy
• Cozy Green Solutions
• Little Leaf Energy
• Sunny Side Power
• Cuddle Current
• Wiggly Wattage
• Daisy Power
• Whisker Wind Energy
• Bright Bud Energy
• Playful Power
• Cheery Charge
• Merry Solar
• Bubbly Breeze Energy
• Frolic Energy
• Giggle Grid
• Joyful Joules
• Glow Getter Energy
• Tiny Tot Energy
• Petal Power
• Radiant Rainbows
• Sunflower Energy
• Wren Energy
• Cuddlebug Power
• Sparkle Energy
• Sunshine Sprouts
• Happy Hearth Energy
• Pixie Power

Clever Renewable Energy Company Names

A clever name can showcase your creativity and innovation in the renewable energy field. Here are 30 clever name ideas to spark your imagination:

• Watt Wonders
• Solar Brilliance
• Green Genius Energy
• Energy Inception
• Sunshine Savvy
• Watt’s Your Source?
• Eco Innovators
• Bright Ideas Energy
• Watt a Deal Energy
• Clever Currents
• Eco-Logical Energy
• The Energy Equation
• Electric Puns
• Smart Power Solutions
• Power Shift Dynamics
• Cleverly Green
• Eco-ceptional Energy
• Watt a Difference!
• Brilliant Light Energy
• Shrewd Solar Solutions
• Brainwave Energy
• Clever Charge
• Current Creators
• Power to the People
• BrightBeam Innovations
• Ingenious Energy
• Energy Powers Activate
• Wise Choice Energy
• Eco-Smart Power

Short Renewable Energy Company Name Ideas

A short name can be memorable and impactful for your renewable energy company. Here are 30 concise name ideas to get you started:

• SproutEnergy
• SwiftEnergy

Catchy Renewable Energy Company Names

A catchy name can easily attract attention and leave a lasting impression. Here are 30 catchy name ideas for your renewable energy company:

• Radiant Rise
• Green Charge
• Energy Oasis
• Solar Surge
• BrightMove Energy
• Renewal Boost
• Charge Up Energy
• Watt Wizard
• Green Light Energy
• Dynamic Renewable
• Sun Powerhouse
• EcoPowerhouse
• Energy Whiz
• Sunbeam Solutions
• EcoVibe Energy
• Brilliant Wattage
• Green Pulse
• Spark Energy
• Bright Path Energy
• Cheerful Charge
• FutureBright Energy

Solar Power Company Name Ideas

A strong name can highlight your focus on solar energy and attract customers. Here are 30 name ideas specifically for a solar power company:

• Solar Radiance
• Sunshine Energy
• SolarFlare Solutions
• Bright Sun Power
• SunBeam Innovations
• Solar Quest
• Golden Rays Energy
• SkyLight Solar
• EcoSun Energy
• SunWave Power
• Solar Blossom
• EverSun Energy
• Sunny Horizons
• Sunstream Power
• Radiant Solar
• Solar Bloom
• Sunkissed Power
• PureSun Energy
• Sunrise Energy
• Bright Idea Solar
• SunPower Partners
• SunnySide Power
• Sunshine Path Energy
• Solar Sprout
• Solar Harbor

Wind Energy Company Names

Choosing a name that reflects your dedication to wind energy can enhance your brand identity. Here are 30 name ideas for a wind energy company:

• WindWhirl Energy
• Fresh Breeze Power
• SkyWind Solutions
• Gusty Energy
• AirFlow Energy
• GreenWind Dynamics
• WindStream Power
• Zephyr Energy
• HighWind Innovations
• WindKite Energy
• SwiftWind Solutions
• SkyBlades Energy
• Windy Path Power
• WindHarvest
• WindChaser Energy
• AirGen Energy
• Breezy Solutions
• WindEnergy Solutions
• DriftForce Energy
• EcoWind Power
• WindBlaze Energy
• GaleForce Power

Hydroelectric Business Name Ideas

A name that emphasizes the flow of water can effectively represent your hydroelectric business. Here are 30 name ideas to consider:

• HydroFlow Energy
• Blue Current Power
• WaterWay Energy
• HydroHarvest
• Tidal Power Solutions
• Streamline Energy
• RiverRun Energy
• ClearWater Energy
• HydroSphere
• PureFlow Energy
• Cascade Energy
• AquaGen Solutions
• HydroBridge
• StreamPower
• SurgeWater Energy
• WaterNest Power
• HydroHarmony
• RiverWave Energy
• BlueWave Power
• Streamline Solutions
• CrispCurrent Energy
• WaterCrest Energy
• HydroRevolution
• StreamWise Energy

Biofuel Company Names

A name that highlights sustainability and innovation can effectively represent your biofuel company. Here are 30 name ideas for your consideration:

• BioFuel Innovations
• GreenFuel Solutions
• EcoDiesel Energy
• RenewBio Fuels
• BioPower Dynamics
• EcoBlend Energy
• GreenGrove Fuels
• CleanFuel Partners
• BioHarvest Energy
• Sustainable Biofuels
• PathwayFuel
• AgriFuel Solutions
• BioFlame Energy
• EcoBeyond Fuels
• PureBio Power
• BioSphere Energy
• Seed to Fuel
• BioFusion Energy
• VitalFuel Solutions
• NextGen Biofuels
• HorizonBio Fuels
• BioRise Energy
• CircularFuel
• BioWorks Energy
• Green Horizon Fuels
• EcoSource Energy

Geothermal Energy Business Name Ideas

A name that captures the essence of geothermal energy can effectively showcase your business’s focus on sustainable solutions. Here are 30 name ideas for your geothermal energy company:

• GeoHeat Innovations
• EarthCore Energy
• HotSpring Power
• GeoSource Energy
• Geothermal Green
• DeepEarth Solutions
• ThermalFlow Energy
• EarthHeat Systems
• GeoWave Energy
• Subsurface Solutions
• EcoTerra Energy
• Heat Nest Energy
• EcoGeo Energy
• Earthly Energy
• Natural Heat Power
• GeoVista Energy
• ThermoPower
• EarthBalance Energy
• HotZone Energy
• GeoSustain Solutions
• TerraTherm Energy
• HeatWave Innovations
• GeoGreen Power
• GroundSource Energy
• WarmEarth Solutions
• EarthPulse Energy
• GeoRoots Energy
• Thermal Nexus
• Subterra Energy
• EverHeat Energy

Tidal Energy Company Names

A name that reflects the power of the ocean can effectively represent your tidal energy business. Here are 30 name ideas for your tidal energy company:

• TidePower Solutions
• BlueWave Energy
• Tidal Flow Energy
• OceanCurrent Power
• Marine Energy Innovations
• WaveNest Energy
• Seawater Synergy
• Coastal Power Systems
• TideRise Energy
• EcoTidal Energy
• Flowing Tides
• HydroTides Energy
• Oceansource Energy
• MarineSpring
• DeepBlue Energy
• TideHarvest
• Current Power Solutions
• WaveLink Energy
• BlueTide Innovations
• Seabreeze Energy
• EbbFlow Energy
• Kinetic Tides
• AquaPower Dynamics
• Tidal Nexus
• OceanPulse Energy

Green Energy Solutions Name Ideas

A name that emphasizes green energy can convey a commitment to sustainability and innovation. Here are 30 name ideas for your green energy solutions company:

• EcoEnergy Solutions
• GreenWave Innovations
• Sustainable Synergy
• EcoRenew Solutions
• Vital Green Power
• EverGreen Energy
• GreenSpark Solutions
• Balance Energy
• Green Horizon Solutions
• Nature’s Energy Source
• EcoStream Energy
• FreshForce Energy
• GreenRoots Energy
• Clean Current Solutions
• Renewable Edge
• EcoSphere Energy
• Nature’s Power Solutions
• GreenVista Energy
• Green Flow Dynamics
• EcoLogic Innovations
• Green Compass Energy
• Clean Energy Pathways
• Sustainable Energy Nexus
• GreenEdge Solutions
• EcoFlex Energy
• Renewale Energy Solutions
• EcoGuide Energy
• Green Impact Energy

Sustainable Energy Startup Names

A great name can inspire confidence and highlight your commitment to sustainability in the energy sector. Here are 30 name ideas for your sustainable energy startup:

• EcoLaunch Energy
• NewWave Sustainability
• Sustainable Futures
• EcoRevolution Energy
• GreenStart Innovations
• PureFuture Energy
• Renewal Ventures
• TerraEco Solutions
• SustainAbility Energy
• Vibrant Earth Energy
• Future Energy Partners
• EcoImpact Solutions
• Sustainable Drive
• EverGreen Ventures
• CleanLeap Energy
• BrightHorizons Energy
• Greener Path Energy
• Innovative Sustainables
• EcoBridge Solutions
• Conscious Energy
• EverSustain Energy
• Horizon Energy Partners
• EcoVenture Solutions
• GreenShift Energy
• EcoAdapt Energy
• PlanetWise Energy
• Renewable Blossom

Eco-Friendly Power Company Name Ideas

An eco-friendly name can effectively communicate your commitment to sustainable energy solutions. Here are 30 name ideas for your eco-friendly power company:

• GreenLight Energy
• EcoPower Innovations
• NatureFlow Energy
• SustainPower Solutions
• PureEarth Energy
• EcoSource Power
• FreshEnergy
• GreenGuard Energy
• EarthWise Power
• Energize Nature
• EcoVision Energy
• CleanWave Power
• EcoShield Energy
• GreenSpan Energy
• Solar Blessings
• EarthSmart Power
• Green Realm Energy
• EcoRise Solutions
• BrightFuture Power
• LiveGreen Energy
• EcoRise Energy
• Nature’s Charge
• ConsciousPower
• Harmonious Energy
• EcoHarmony Energy
• Vibrant Power
• Greener Energy Systems
• EcoDynamic Power
• PureHabitats Energy
• EarthFirst Power
• EcoPinnacle Energy

Renewable Energy Consulting Firm Names

A strong name can convey expertise and a commitment to advancing renewable energy solutions. Here are 30 name ideas for your renewable energy consulting firm:

• Renewal Advisors
• EcoConsultants
• Sustainable Insights
• Green Path Consulting
• Renewable Strategies
• EcoWise Consultants
• CleanTech Advisors
• Future Energy Consultants
• Green Vision Consulting
• Renewable Solutions Group
• EcoThink Consulting
• Innovative Energy Advisors
• Bright Ideas Consulting
• Clear Path Energy Advisors
• Sustainable Growth Consulting
• EcoSolutions Group
• Renewable Guidance
• Energy Transformation Advisors
• GreenLight Consulting
• EcoConsult Group
• Strategic Energy Solutions
• Smart Energy Advisors
• EcoShift Consultants
• Renewable Insights
• Carbon Neutral Consulting
• Green Energy Experts
• Energy Efficiency Partners
• EcoAdvisory Services
• Horizon Energy Consultants
• NextGen Energy Advisors

Key Tips for Naming Your Renewable Energy Company

Choosing a name for your renewable energy company can be challenging. Here are some tips to help you make the best decision.

Keep It Simple

A simple name is easier to remember and spell. Avoid complicated words or unusual spelling.

Reflect Your Values

Your company’s name should reflect what you stand for. Think about the values and message you want to send to your customers.

Use Relevant Keywords

Incorporate words related to renewable energy, like “solar,” “wind,” and “green.” This helps people understand what your business is about instantly.

Check for Availability

Ensure the name is available as a domain and on social media. This keeps your online presence consistent.

Consider Future Growth

Pick a name that allows room for your business to grow. Avoid very specific names that might limit what you can offer later.

Make It Unique

A unique name can help you stand out from competitors. Do some research to ensure your chosen name is not already in use.

Get Feedback

Ask friends, family, or potential customers for their opinions on your name ideas. This can provide valuable insights and help you make a final decision.

Final Thoughts

The right name can make your renewable energy company stand out and attract the right clients. With 540 ideas to choose from, there’s something for everyone. Select the option that best matches your business’s identity. Consider using the name generator at the top of the page for tailored suggestions.

Slava Velikiy, CEO of Rontar and GainRep, has over 20 years of experience in entrepreneurship, project management, and software development. Passionate about innovation and solving real-world problems, he shares his insights on entrepreneurship, leadership, and technology.

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Starting Your Own Clean Energy Business - What Does It Take?

Diane Cherry is a woman owned small business providing clean energy consulting services for local government, clean energy companies, non-profits and educational institutions. Her projects and...

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• 101 items added with 51,952 views
• Nov 8, 2022 Nov 8, 2022 6:23 pm GMT

Clean energy project development is an entrepreneurial venture, with significant risks and unknowns, and it requires an immense amount of time and financial resources to complete projects. But individuals are launching their own companies every day, bolstered by clean technology trends. What does it take to start your own renewable energy development company?  This article offers some insight into that question and includes advice from Matt McMonagle, CEO and Founder of NovoHydrogen . Prior to founding NovoHydrogen six months ago, Matt served as the Vice-President at Dimension Renewable Energy and oversaw all the firm’s energy storage projects. He also worked at ForeFront Power and SunEdison.

So you want to launch your own clean energy business, what should you know? Here is a list of the top ten suggestions.

• Make sure you have the right temperament.

Matt talked about the importance of passion in what you do and having an ability to weather uncertainty and ambiguity. “When you start your own company, you must do many different things and often there is not a clear precedent. If that excites you, then great, but if not, you may be better off working for an established company, in a mature market, with clearer responsibilities”. Matt worked for five previous companies – four of them start-ups - so that gave him comfort in understanding the culture, its evolving nature, and the lack of a clear job description.

• Understand the competitive landscape and where you fit. 

Be laser focused on the market and where you show up in the value chain. Matt left Dimension Renewable Energy, a company that develops solar and storage projects. Solar and storage are known technologies and serve more mature markets. Starting a small company focused on solar and energy storage can be harder because large companies operate in these mature markets. Green hydrogen, on the other hand, is not a mature market, especially in the Americas. Matt “could be early but not too early.” In that way, there is less risk.

Hydrogen technology has been around, but has not been cost effective yet. Countries in Europe have been in the field a bit longer, and are a few years ahead of the U.S. in green hydrogen. As a result, Matt felt the timing right to start a green hydrogen company here in the U.S. because the green hydrogen market is new, evolving, entrepreneurial and development is inherently local. 

• Figure out your niche — pivoting from one technology to another should not be considered lightly.

Matt’s ambitions differed from his former company’s path, which gave him more impetus to do his own thing.  That said, moving from energy storage and solar to green hydrogen was not something he considered lightly. He spent many hours researching the green hydrogen market. He notes, when you pivot from one technology to another, it may be even harder because you must bring knowledge and expertise to something unfamiliar. 

• If your niche includes the same business as your current company, understand the non-compete clause.

If you are leaving an established renewable energy company to launch a new firm in the same market/technology, it is important to understand any non-compete clause. One employee leaving to start a new firm may not be controversial but several employees looking to branch out is a common litigation scenario. Non-compete agreements are enforceable if restrictions are reasonable in duration/scope/geography. 

• There is risk in anything you do.

Even though starting a new company is risky and uncertain, Matt noted there is risk in everything – including staying put. An established clean energy company may decide to lay off an entire division, or merge with another firm. Though he knew it would be challenging, Matt decided creating his own path was worth the risk. At worst, he could still get a job elsewhere even if his venture didn’t work. Starting his own green hydrogen company would build marketable skills and allow him to work in a field he was passionate about.  

• Acquire any necessary capital. 

Every business succeeds or fails based on its ability to sustain itself financially, but it could take some time before revenues exceed costs. Although there are several financing options for new businesses and startups, research shows that almost all entrepreneurs invest some personal savings at the early stages of their business.  Some entrepreneurs obtain financing from banks, venture capital, or other development capital providers like Leyline Renewable Capital. The first two options may be harder to obtain in the early stages as they tend to want to see an existing company with strong growth potential before lending money. 

Matt launched his firm without any other co-founders and had enough money committed from investors that he felt comfortable taking the leap. Beginning a firm on your own versus with others is a choice to weigh carefully. For some, starting up alone is easiest. However, it may pose challenges when it comes to gaining investors, if the investor isn’t willing to risk it all on one person.

• Hiring people in a small company is hard.

Matt started his company without another co-founder. He knew that he had to hire staff immediately but noted that finding the right people in a small company is crucial. But it is a two-way street: while he is hiring for the company, that person is also taking a chance on him. Wrong decisions are costly.

• There is more development capital today than ever before.

There is much more development capital available for companies today than there was 3-4 years ago across all different stages of development. The good news is that it is easier to get money from lenders, which makes starting a company less stressful than in the past. When capital is committed and mentors are available to guide you, this is one less thing to worry about.

• In the end, betting on yourself is worth it.

Matt said it was a “no-brainer” to start his company and in retrospect, he would have regretted it if he didn’t take the plunge. In the end, everything is in flux, and you must evaluate what is right for you. Betting on himself, Matt said, was well worth it. 

     10. Be willing to accept help and leverage your network. 

No one person or company can do everything on their own. Check your ego at the door and take advantage of help that others are willing to provide. Matt credits a big part of his conviction to start NovoHydrogen to the amazing mentors, leaders, and bosses he has worked for and with throughout his career. They have shown him how this is done and remain trusted advisors.

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Sponsors & Partners

Over next 20 years, MidAmerican plans big investments in solar, natural gas power plants

(This article was updated to correct information.)

MidAmerican Energy, Iowa’s largest electric utility, says it expects to invest heavily in solar energy, natural-gas power plants and a small modular nuclear facility over the next two decades to meet the state’s increasing energy needs, driven in part by the growing data center industry.

Owned by Warren Buffett’s Berkshire Hathaway, MidAmerican, anticipates adding 6,890 megawatts of generation plus 155 megawatts of storage, according to a resource evaluation study it filed with state regulators Friday.

The increased generation would be in addition to the Des Moines-based utility’s $3.9 billion WindPrime plan to build 2,042 megawatts of wind and 50 megawatts of solar energy generation.

"Even as MidAmerican continues to develop projects associated with WindPrime, real-world demand coupled with forecasted growth, including large loads under contract, shows a generation capacity need," the company said in the report.

Over the next five years, the company said it needs to build two natural gas plants that would add 233 megawatts each to meet peak demand. The so-called “peaker plants” are small, only about 40% the size of MidAmerican’s natural gas plant in Pleasant Hill. They wouldn't likely come online until 2028 and 2029, the report says.

Just how much more energy MidAmerican customers need is unclear. The company redacted demand forecasts from its report, providing only data showing that its Iowa and South Dakota customers' energy use climbed nearly 40% over the past 12 years.

Iowa has attracted massive Facebook, Google, Microsoft and other tech data centers that have helped drive the state's increased demand. NextEra Energy, for example, is weighing reopening its Duane Arnold nuclear power plant near Palo to meet growing demand from data centers developing artificial intelligence, as well as the nation's push toward electric cars and trucks.

MidAmerican expects to need to build an additional three peaker plants from 2031 to 2035 and four large natural gas plants, ranging in size from 466 megawatts to 699 megawatts, from 2040 to 2044. The company, the nation's leader in wind power generation, also expects to develop 2,300 megawatts of solar energy from 2033 to 2044 — a big step up from the 141 megawatts its says it currently generates .

More: Energy-hungry cryptocurrency mining is growing in Iowa. Will it help or hurt the state?

Altogether, MidAmerican anticipates adding 3,495 megawatts of natural gas-fired generation, 3,050 megawatts of solar energy, and 345 megawatts of modular nuclear energy, which would pair with 155 megawatts of molten salt power storage. The small-scale nuclear plant likely wouldn't be added until 2036, the report says.

MidAmerican spokeswoman Tina Hoffman said the company will look to lessons learned by PacifiCorp., a Berkshire Hathaway sister company that's partnering with Microsoft billionaire Bill Gates' TerraPower to build a modular nuclear reactor pilot project in Wyoming.

Hoffman said MidAmerican won't have an estimate on the cost for the new power generation until it's ready to make a request to the Iowa Utilities Commission for regulatory approval.

Critics push company to speed up coal plant retirement, add more renewable sources

The report outlines shutting down most of the company's coal-fired power plants over the next 20 years, but environmental groups have urged it to adopt a more aggressive plan while adding renewable energy.

The Iowa Environmental Council said it and other partners "identified lower-cost paths forward that would also reduce the air pollution that is making asthma and (chronic obstructive pulmonary disease) worse in places like Sioux City," near two of MidAmerican's coal power plants, Kerri Johannsen, the group's energy program director, said in an email.

The company's plan, she said, "prioritizes the company's profits over the health and financial well-being of the Iowans."

Josh Mandelbaum, an Environmental Law & Policy Center senior attorney and Des Moines City Council member, said he disagrees with the model MidAmerican used to forecast its needs, saying it's doesn't fairly weigh renewable energy's benefits. It means “you leave cost-effective, more economic, cheaper renewable options on the table because your model won't select them,” said Mandelbaum, whose group plans to pursue its own analysis.

MidAmerican said in a statement that the analysis ensures the company will generate "long-term reliable power for customers while maintaining its position as one of the lowest-cost electricity providers in the United States." It said the plan reflects its "all-of-the-above strategy that combines a strong, continued commitment to renewable energy with proven, on-call power sources to meet the significant projected growth in customers’ electric demand."

Over the past 20 years, MidAmerican says, it's developed more than 3,400 wind turbines across 32 Iowa counties, making it the nation's largest rate-regulated owner of wind energy generation. Iowa gets nearly 60% of its energy from wind, the largest share nationally.

MidAmerican agreed to the resource evaluation as part of a settlement with consumer groups concerned about the effect of the WindPrime proposal on rates, according to trade news website Daily Energy Insider . The company said several people and groups participated in the company's analysis, including the Environmental Law & Policy Center, Iowa Utilities Commission members, the Iowa attorney general's consumer advocate, the Iowa Business Energy Coalition, the Sierra Club, Microsoft and Google.

This article has been updated to correct that Iowa and South Dakota MidAmerican customers' energy use climbed nearly 40% over the past 12 years.

Donnelle Eller covers agriculture, the environment and energy for the Register. Reach her at  [email protected] .

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India’s NTPC and ONGC form renewable energy joint venture

The NGEL-OGL JV aims to expand into the renewable and new energy domain.

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Indian public sector companies the National Thermal Power Corporation (NTPC) and the Oil and Natural Gas Corporation (ONGC) have collaborated to create a joint venture (JV) to advance their renewable energy opportunities.

The JV will be formed by the companies’ green energy subsidiaries NTPC Green Energy (NGEL) and ONGC Green Energy (OGL) in an equal partnership.

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The partners signed the joint venture agreement in February 2024 during India Energy Week, and have already received statutory approvals from the Department of Investment and Public Service Management, and NITI Aayog (the National Institute for Transforming India).

NGEL has submitted its application to the Ministry of Corporate Affairs to establish a 50:50 renewable energy joint venture with OGL.

The collaboration will explore opportunities within the sustainable energy domain to advance renewable and new energy development in solar, onshore wind, offshore wind, pump and battery energy storage, green molecules (green hydrogen, green ammonia, sustainable aviation fuel, green methanol), e-mobility, carbon credits and green credits.

The joint venture will also explore the acquisition of renewable energy assets and consider participation in offshore wind tenders in the states of Tamil Nadu and Gujarat.

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The partnership marks a significant step towards promoting sustainable energy initiatives, in line with India’s ambitious goals for a more sustainable future.

In October 2024, JSW Energy Thirteen, a subsidiary of JSW Energy, finalised a power purchase agreement with NTPC for a 700MW solar energy project.

This strategic decision was in line with JSW Energy’s plan to grow its renewable energy assets and contribute to India’s overall objectives for energy transition.

The solar project, scheduled for commissioning by June 2026, will be connected via the Inter-State Transmission System and State Transmission Utility networks.

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China's Climate Policy:

Shanghai Unveils Green Shipping Plan as New Emissions Rules Loom

• IMO’s decarbonization plan expected to be outlined in 2025
• Transition to methanol and ammonia could take many years

The government in Shanghai wants to convert the world’s busiest port into a center for greener shipping.

China’s biggest city aims to build its capacity to supply cleaner fuels in preparation for more stringent global emissions mandates. The target is to raise Shanghai’s low-carbon bunkering to over 1 million tons a year by 2030, according to a statement on Friday.

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Bharti Telecom raises Rs 11,150 crore via bonds to fuel investment goals

Rec looking to raise rs 6,500 crore this week.

Bharti Enterprises Chairman Sunil Mittal

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First Published: Nov 04 2024 | 7:42 PM IST

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