How to make solar energy your energy business
The solar industry is in a tizzy with the solar industry on the brink of a solar energy management committee (SEM) meeting, which could pave the way for the solar energy industry to go public.
In an interview with Business Insider, CEO of SunPower Energy, Paul Anderson, said the solar power industry has seen a spike in the number of investors following the introduction of the Solar Energy Standard (SES) which is aimed at curbing emissions from solar energy generation.
But, he added, the solar companies have not been able to come up with a plan to make the industry viable.
“We’re not in a position to make a profit from this,” Mr Anderson said.
“It’s something that has to be dealt with through a management structure that’s going to be more sustainable and that’s not going to happen overnight.”
But, SolarCity’s co-founder and chief executive officer, Lyndon Rive, said that it is difficult to forecast what will happen to the industry as the solar sector has yet to see a plan from the SES.
“I think we’re just going to have to wait and see,” Mr Rive said.
Solar Energy Industry has also been under the spotlight with a new lawsuit filed against the company in California in May.
In the lawsuit, Solar Energy Industry said it has been unfairly targeted by the lawsuit alleging that it failed to protect its investors from “the threat of a class action suit”.
“The company was not required to provide adequate notice of the lawsuit or disclose that it had been filed by a defendant named in the complaint,” Solar Energy Industries claimed.
The lawsuit also claimed Solar Energy industry failed to comply with state and federal environmental laws.
A spokeswoman for Solar Energy Energy Industry told Business Insider that it has “been cooperating with the state in its investigation and is confident the company will prevail”.
But, the spokeswoman added, “We believe this lawsuit was a frivolous attempt to force Solar Energy into providing the documents and information it requested in order to defend itself against claims that it breached its obligations under California law”.
Mr Anderson said that the solar businesses have been “very cautious” about the prospects of Solar Energy coming out with a “solar company” plan.
“Solar Energy is not a solar company,” Mr Lee said.
“We’re a small company that is very focused on getting solar power out into the market, and we’re doing that with the help of the state and the federal government.”
Mr Lee also said that Solar Energy is “very supportive” of renewable energy and has invested in a number of renewable power plants, including wind farms in California.