Hopkinton solar firm plans N.Y., Ill. expansion, new Holliston location
The secret is out that Massachusetts is among the most solar-friendly states, with incentives that were rolled out seven years ago under the Green Communities Act. That’s why it’s no surprise to Ken Driscoll, CEO of Hopkinton-based Solect Energy, that out-of-state companies are moving in for a piece of the market.
While Driscoll feels confident that his business, which serves commercial, nonprofit and government users, is established enough to fend off competitors, he and his partners are looking outside the Bay State just as others are moving in.
In early 2016, Solect may open offices in New York and Illinois, according to Driscoll. The company also announced the hiring of three senior executives this week who will help Solect transition to its status as a multi-state company while expanding service offerings.
“I think it’s more opportunistic that we’re looking elsewhere,” Driscoll said. “We’ve been able to grow the company (to the point) that we’re strong enough and stable enough to expand without diluting our efforts.”
New York has robust incentives and regulations to support the solar industry, though it has been a little slower than neighboring Massachusetts to roll them out, according to Driscoll. Illinois’ incentives aren’t as substantial, but Solect has important “go to market” partnerships with companies there, he added.
Meanwhile, Solect has already begun to expand to Rhode Island and Connecticut with sales efforts and some installations already under way. The company has also set sights on New Hampshire.
But it’s not just geographic expansion that Solect, one of the state’s largest commercial solar installation companies, is planning. The company is also looking to expand its business lines, especially energy management services.
John Mosher was hired as vice president of energy solutions to assist customers with energy management options. Along with Mosher, Solect hired Matthew Shortsleeve as senior business director of development services to expand third party-financed project business, and Brian Herr as vice president of business development for the public sector and education to advance the company’s nonprofit business.
Holliston will be home to operations center
In addition to out-of-state expansion, Solect is planning to open a customer operations center in Holliston next year that will house logistics and services staff, as well as administrative staff.
With a staff of 45, plus an additional 40 to 60 contract workers in the field on any given day, Driscoll said prospects are strong well into the future. Net-metering caps, which have been an issue for many installers in National Grid’s service territory, aren’t a major concern of Solect because most of its clients, which tend to be smaller businesses and nonprofits such as schools, are generating and using energy on site rather than selling it back to the grid.
“I think we’re really excited about what we’re seeing out there in terms of the energy space … about the overall health of the economy. Companies are investing in themselves (and) banks are lending,” Driscoll said.
Image source: Freedigitalphotos.net
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