REC Solar, a leading provider of commercial solar and energy solutions, announced the appointment of Matt Walz as chief executive officer.
Walz has worked at Duke Energy for 12 years and joins REC Solar after serving on the company's board of directors. Walz's appointment is an extension of Duke Energy's commitment to provide affordable and accessible energy solutions to REC Solar's commercial customers.
Walz brings to REC Solar leadership experience in renewable energy, retail electric supply and wholesale generation. Building off his tenure as a vice president at the nation's largest utility, Walz will help REC Solar further integrate with Duke Energy Renewables and create additional strategic partnerships to solve commercial customers' most pressing energy challenges.
"Our customers want an energy partner that understands the unique needs of both small and large businesses and is able to provide simple, affordable and customized solutions," said Walz. "As CEO, I am bringing together the nearly two decades of solar experience at REC Solar with Duke Energy's more than 100 years' experience serving customers' energy needs."
The Solar Energy Industries Association (SEIA) notes that "challenges remain in providing competitive financing for smaller companies without credit ratings."
"Together, Duke Energy and REC Solar are providing secure financing options, partnering with best-in-class service and technology providers, and using our energy experience to build the best solution for each customer," Walz added. "We want to make it easy for customers to save money and generate onsite solar power."
When Duke Energy acquired its majority interest in REC Solar in 2015, the company committed to invest up to $225 million in commercial solar projects developed through the commercial solar leader and supported by long-term power purchase agreements. This is bridging the gap between customer demand for and access to fast financing, reliable service and comprehensive energy solutions.
"Delivering a simple sales and financing process to commercial energy buyers gives them quick access to smart, high-quality solutions to their complex energy problems," said Rob Caldwell, an REC board member and president of Duke Energy Renewables and Distributed Energy Technology. "Matt's leadership experience makes him well qualified to solve these challenges and lead REC Solar into its next phase of growth. REC Solar and Duke Energy Renewables bring unmatched collective expertise to any company seeking to lower energy costs and find multiple services under one provider."
Under Walz's leadership, REC Solar is expanding beyond its traditional direct sales model and accelerating its value to customers by creating a network of strategic partnerships with trusted energy companies:
- Channel partner program. REC Solar is creating a one-stop shop to provide easy financing and project support for a broad range of solar partners. The company announced Sungevity as its first partner earlier this year and is actively onboarding dozens more. The program includes competitive financing options for projects ranging between 50KW and 2MW.
- Enterprise solutions group. REC has a team focused on providing enterprise solar and energy solutions to the Fortune 1000. To address the broader energy needs of these customers, REC Solar has built partnerships with best-in-class energy solutions providers like Green Charge Networks (energy storage) and Phoenix Energy Technologies (energy management software). It also works closely with Duke Energy Renewables. Instead of bundling standardized solutions, the company tailors the right package of high-quality products and services for the unique needs of each business.
"REC Solar is focused on growing partnerships and deploying affordable financing to meet the specific needs of commercial customers who want more options, not fewer. We're a partner that truly understands the business of energy generation," added Walz.
About REC Solar
REC is the only renewable energy provider focused exclusively on businesses and backed by Duke Energy, one of the largest energy companies in the world. Incorporating experience from more than 500 successful commercial solar installations over 19 years, REC Solar tailors financing and technology solutions to immediately deliver bottom line savings. REC Solar makes commercial solar simple, working seamlessly with customer operations to deliver clean energy for decades. For more, visit recsolar.com or call 844-REC-SOLAR (844-732-7652).
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes approximately 20 wind projects and more than 40 solar facilities in operation in roughly a dozen states, totaling about 2,700 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
