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Growing up in Hawaii, Aric Saunders appreciated the beautiful environment, the hard-working people and his good fortune to live in what he describes as a "dream world." But he learned along the way about the state's dependence on imports and how people panicked over shipping outages "because there's no way to truck things in."
"As I got older, it came to light what a bad situation it is with all the imports and reliance on coal and oil," he said. "And that planted the seeds of getting into the energy industry."
Aric is a clean energy champion well versed in reaching low to moderate-income communities, creating innovative products, and integrating storage into the grid. "My interest in the environment and sustainability has always been there, understanding how integrated humans are with nature," he said.
He's now VP of Sales for Electriq Power, a battery storage company in San Leandro, California. He joined Electriq as director of business development in 2017 to advise the company on its residential energy storage and go-to-market strategy.
Electriq has developed a smart battery storage solution for homes and small businesses that helps owners harness the power of smart batteries to achieve a more renewable energy solution.
Before Electriq, he founded three companies in Hawaii and was the first to bring a specific kind of solar power purchase agreement (PPA)financing to the market, which we discuss in today's podcast. You'll hear how he incorporated sales operations, product management, and finance into an interesting and diverse career.
A serial entrepreneur, Aric spent eight years in real estate development post-college before venturing into the renewable energy industry. The lightbulb moment occurred when he realized solar was comparable in many ways with his real estate work based on its financing.
"The only difference I saw was this is overall a depreciating asset versus an appreciating asset because you'll have replacement costs. But once you have that site lease, you can replace panels down the road," he said. "There are no occupancy risks, and maintenance is much less."
Aric entered the solar industry in 2009 and, two years later, started his first company, Hawaii ECO Project, a provider of photovoltaic systems focusing on nonprofits.
He helped create and implement the first no-credit-check residential PPA for Native Hawaiians, reducing electric bills for low-income participants by more than 30%. "We found the investors, created the document, did community outreach, procured and installed the equipment and still operate and maintain the PPAs today," Aric has said. "This project allowed us to maximize the benefits of renewable energy and cut through outsider complaints that solar only benefits the wealthy. It was proof that renewable energy could change everyone's lives."
As an innovator, Aric said his next step deepened his involvement in technology. "We saw a big need for energy storage and knew that would be the future."
In 2014, Aric founded SolarHale, which provides consumers with transparent information and pricing for residential rooftop solar, and HyGrid Energy, a renewable energy consultant, developer and financier.
Three years later, he decided he could be more impactful by joining an existing company as an employee where he could be "laser-focused" on helping it build its business.
"That was one of the key emotions I had," he said. "And I'm not going to lie. I also had a kid right before that. So that played a role in the decision."
Aric thinks we're at the beginning of a fundamental change in how humans use and purchase electricity. He said he wants to look back and know that he and those he works with made a difference and made the world better.
"Democratizing energy is critical to what we're trying to achieve," he said. "One of our core values is making energy ubiquitous. It's one of our goals [at Electriq], and we're making it happen."
If you're curious to learn more about Electriq, how the battery storage markets are growing and how the recently passed US Inflation Reduction Act will affect it, tune in to today's show.
TIMESTAMPS:
3:32 Misconceptions about Hawaii
5:51 First glimpse of alternative energy
7:02 Aric's journey into renewables
10:21 From energy project developer to creating a solar marketplace
14:15 From SolarHale to Electriq Power
16:22 Aric's proudest moment in the early years
18:54 A first time no credit check product
22:47 Decision to work for someone else
27:25 Gaps in the marketplace that needed to be filled
29:49 How companies can differentiate themselves
31:19 Providing financing for different sectors
33:30 Hurdles that developers are overcoming
37:17 How grid service programs work
40:34 Democratizing energy
41:36 Key lessons or takeaways from mentors
42:46 Advice for entrepreneurs going through a startup
44:16 How the Infation Reduction Act effects energy storage
44:59 Aric's book recommendations
47:40 Where to connect with Aric
48:24 Aric's bold prediction
50:49 Wrap up
BOOKS MENTIONED AND RECOMMENDATIONS:
NOTEWORTHY QUOTE:
“I’m really excited about what the future brings, right? I mean, the goals of this energy transition and democratizing energy will have such a huge impact on, you know, our society in general.”
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SUNGROW focuses on integrated energy storage system solutions, including PCS, lithium-ion batteries and energy management system. Pleae visit https://www.mysuncast.com/sungrow
ABOUT THE HOST OF SUNCAST:
Nico Johnson is the creator and host of SunCast, consistently rated a top solar podcast in the clean energy sector. The content of the show is geared towards listeners looking for insights on where the markets are headed, how to position themselves or their companies, and what today's market leaders do to stay ahead of the pack.
Nico is an Investor, Executive Coach, and 16-year veteran of the solar industry, having led development in the US and Latin America for global companies like Trina Solar and Conergy.
You can connect with Nico Johnson on Twitter, LinkedIn or email.
If you’ve been second-guessing your work decisions or maybe trying to reconsider how you "fit" in the renewable energy industry -> grab 20 minutes on Nico's calendar and discuss whether having him as Your personal coach might be the right next step.