The commercial and industrial (C&I) solar market, often called the "messy middle," has lagged behind the rapid growth of residential and utility-scale projects. Yet, with vast rooftop spaces on commercial buildings offering significant untapped potential, the opportunity to reduce our carbon footprint and optimize energy costs is more compelling than ever. But the economics of C&I solar are finally, at long last, shifting for the better.  With transferable tax credits from the Inflation Reduction Act and rising electricity costs,it’s never been a better time for commercial rooftop solar in America. Versiris Energy, a wholly owned subsidiary of New Energy Equity, is focused specifically on capturing market opportunity as the C&I sector takes flight.

Nick Kerwin, Senior Vice President, and Rocky Shoemaker, VP of Engineering & Construction, bring 30 years of combined solar expertise to Versiris Energy. Rocky, an electrical engineer and one of New Energy Equity’s first employees, has extensive experience managing complex C&I projects. Nick, who joined in 2021, specializes in solar finance, acquisitions, and distributed generation. Together, they lead Versiris Energy with startup agility and the backing of an established parent company, addressing the unique challenges of the C&I solar market.

Expect to learn:

• The strategic decision-making process behind spinning out Versiris from New Energy Equity
• Why rising electricity rates are opening new C&I markets in regions like Alabama and Indiana
• How transferable tax credits from the IRA unlock opportunities for commercial property owners.
• How advancements like the UL 3741 standard are reducing costs and simplifying C&I solar installations.

Hit play to explore how a business idea inside one of the industry’s most successful developers becomes a successful standalone venture, as Rocky and Nick share their intrapreneurial journey of launching Versiris Energy.

If you want to connect with today's guest, you’ll find links to his contact info in the show notes on the blog at https://mysuncast.com/suncast-episodes/.

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CPS July 2024 V2