Growing the Team

Velo Solar Announces Addition of Sharon Lee to Sales Team

ATLANTA, GA February 1, 2020—Velo Solar, the market leader in data-driven, technically excellent solar solutions, is accelerating the shift to the clean energy future by adding new executives with solar expertise to its team.

Sharon Lee, VP of Sales 

Sharon Lee, VP of SalesAs vice president of sales, Sharon Lee can tap into over a decade of solar industry experience in her consultative sales efforts for rooftop solar, storage and microgrid initiatives. From aiding in developing over 17 megawatts of a corporate-owned solar energy portfolio, to spearheading the emergence of the solar division of a leading manufacturing/construction firm, Lee brings a wealth of experience to Velo Solar.

Further, Lee has been involved in the GA Solar Energy Association, serving on the board of directors as the marketing chair, organizing the annual conference, as well as vice chair and ultimately, chair of the organization in 2015. She is also a charter member of the Professional Women in Building chapter of the Greater Atlanta Homebuilders Association, a member of the Solar Energy Industries Association (SEIA), and Women in Solar Energy (WISE).

Lee earned her B.S. degree in communications with double minors in marketing and psychology from Middle Tennessee State University, after spending three years at the University of Tennessee in the pre-health curriculum. Lee is the mom of two boys, ages 13 and 10. She and her husband, John, spend most of their free time at the baseball or football fields, unless they can steal away for a quick round of golf.

 

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About Velo Solar:

Co-Founded by Mark Bell, Velo Solar is the only commercial solar systems firm offering a 3-tiered, scalable energy solution comprised of solar PV and PowerEnfo,  the VS smart grid energy software. Today,  Velo Solar is one of Georgia’s largest solar EPC companies. We’re proud to play an integral role in the projects and initiatives that move our city, state, and region further into a sustainable reality. Looking at Atlanta’s famous BeltLine path right outside our windows, it’s fitting to reflect on our past. But for us, it’s not only where we come from, but where we’re going. We are so much more than solar.

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Why We’re Feeling Thankful at Velo Solar

Here at Velo Solar, we’re feeling thankful this fall and festive season—not just for delicious food and holiday fun, but for the big-picture things that we appreciate now more than ever! Take a look below as we share a few things our team of professional Atlanta solar panels pros is most thankful for at this time of year.

The ability to do something great for the environment

Cooler weather and crisp blue skies are enough to make anyone appreciate their environment just a little bit more! Here in the Atlanta area, as we soak up some beautiful fall weather, we are reminded of the joy that comes with doing good for the environment. One of the ways to do this is to harness the power of solar energy, which helps you and your business reduce your environmental footprint, decrease fossil fuel dependence and overall be more sustainable. That’s something we are thankful for, this year and every year!

Family and friends, near and far

Now more than ever, we are extremely grateful for our loved ones and the ability to connect with them over the holiday season—whether we’re sharing a delicious, traditional meal, or we’re seated together at a “virtual table” connected across the state or country!

Beautiful biking weather

If you don’t already know, Mark, Velo Solar’s president, loves to bike (be sure to check out his Musings from the Saddle in our eNewsletter!). He would be the first to tell you that Georgia boasts some seriously beautiful fall views and biking weather at this time of year! Whether you’re simply exploring the neighborhood, or taking a day trip to the mountains for leaf-peeping fun, there is no shortage of ways to celebrate Georgia’s gorgeous seasonal weather.

Saving where it matters most…

Is it just us, or do all of our wallets tend to feel a little tighter toward the end of the year? From holiday feasts to gift-giving to the ever-important work of operating and growing your business, you may be looking for ways to save as you look toward the year ahead. Fortunately, going solar offers one of the best ways to do exactly that. Here at Velo Solar, we’ve seen businesses like yours save up to 70 percent on their energy bills, and installation costs have dropped by 75 percent in recent years—so you don’t need to wait long before you “harvest” some serious savings.

… and even sunnier days ahead

It’s an exciting time to go solar! Georgia is named one of the top ten states for solar energy by the Solar Energy Industries Association, and we’re grateful for our role in this ever-growing industry.

You

Most of all, this Thanksgiving, we’re thankful for you!

Velo Solar simply wouldn’t be the same without the community and companies we proudly serve every day—from beautiful B&Bs to farms, dealerships and office buildings where big ideas happen. It is a privilege to get to know you and help share our passion for solar energy (plus the big benefits it delivers), and we look forward to working with you well into the new year and beyond.

From the Velo Solar family to yours, we would like to wish you a very happy Thanksgiving! And as always, feel free to contact us to learn more about embracing the power of solar energy for your business, for benefits you’re sure to be grateful for.

 

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Solar addition gives The Baxly the biggest rooftop array in Savannah’s Historic District

Ariel view with 575 solar panelsTo grow an extra story on your luxury mid-rise apartment building, add solar.

That’s what The Baxly did, working with the city of Savannah to gain enough green credits through solar and other features, including a vegetated courtyard, to upgrade its six-story building to a seven-story one.

That’s about 45 additional luxury apartments, with rents starting at $1,549 a month plus utilities for a studio. The Baxly houses 275 apartments in all.

There was no further tax incentive for the solar, said Emanuel Neuman, co-founding principal of Spandrel Development Partners, which developed the mixed-use project.

“For us it was enough to get the additional density and the potential to have cost savings with our common area utility bill,” he said.

The rooftop solar array is the largest solar array of any multi-family building in the Savannah Downtown Historic District, covering nearly a full block of roof space on Indian Street in the new Power Plant District just east of the Talmadge Bridge.

Atlanta-based VeloSolar installed the 575 panels, which will produce enough electricity to power about 22 average homes, said H. Britt Lothridge, director of sales. At the Baxly it will heat, cool and light common areas such as hallways and the amenities like the heated saltwater pool, wine storage and tasting lounge, co-working space, and tool and craft shop.

Velo used Boviet 320-watt panels manufactured in Vietnam for the rooftop solar farm.

VeloSolar focuses primarily on small utility grade projects as well as commercial systems, such as The Baxly, Lothbridge said.

“As far as Savannah goes we recently completed an install on a roof of a newly constructed hotel and we did two installs for J.C. Lewis Ford (Hinesville & Statesboro),” he wrote in an email.

With the success of The Baxly, New York- and Charleston-based Spandrel Development Partners is looking at putting solar on a project in Raleigh now.

“We think that if we can build it, and if it can be accretive, meaning it doesn’t necessarily cost the project money, but it’s net neutral because of the money that it reduces your electricity bill and any tax credits that go along with it, we want to do it every time we can,” Neuman said.

Article and photo from: www.savannahnow.com
Written by Mary Landers, 9/15/20

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Top 5 Reasons to Choose Solar on Your Next Commercial Project

During the summertime and all year long, sunshine helps fuel pool fun and backyard picnics—but did you know that those warm, sunny rays can also form one of the most powerful tools for your business, too?

At Velo Solar, we help you harness the power of solar energy to keep your commercial building running smoothly and reduce your operating budget. Read on to see five key reasons to choose solar energy on your next commercial project in Atlanta and the surrounding area.

Serious energy savings

Great things happen when businesses can save without sacrificing on quality products and services. This is exactly how solar energy can transform your bottom line—by making a simple addition of solar to traditional energy, businesses can enjoy up to 70 percent energy savings. From regular operational costs to heating and cooling needs (as a temperature humid subtropical climate, Atlanta sees extremes of hot, wet summers and cold winters alike), the benefits of going solar can be observed month after month, year after year, long beyond initial installation.

A positive ROI, sooner than you might think

Investing in solar may be more affordable than you first thought! Installation costs in this industry have dropped 75 percent over the last decade—and here at Velo Solar, we always strive to find the most cost-effective, affordable solutions for the companies and communities we serve. You will likely start seeing your ROI payback in as soon as three to five years, on average, so it won’t be long before your business is economically empowered by this simple yet powerful switch.

The bottom line? When planning for the future of your business, solar energy is a step in the right, bright direction.

Serving the environment through the power of sunshine

There are opportunities for every industry to make sustainable, eco-friendly changes for the environment—from restaurants discontinuing plastic straws and packaging, to manufacturers making large-scale switches to the assembly line. Fortunately, switching to solar energy is an across-the-board benefit that can help business of all shapes, sizes and types contribute to environmental efforts. Lower your dependence on fossil fuels and help keep your community (and the globe) as healthy as possible by making this essential next step.

Fortify your reputation as a company that cares

As today’s consumers are making eco-conscious changes to their routines, so too should the businesses that serve them. This can give your company a competitive edge—according to research from the New York University Center for Sustainable Business, consumers are increasingly likely to spend their money on sustainable companies.

Help establish your company as a reputable, environmentally friendly member of the community by switching to solar and making other positive choices.

Custom solutions and long-term confidence

We know that every business is different—and so is every commercial building! At Velo Solar, we don’t rely on one-size-fits-all solutions for your solar needs; instead, we can custom-craft energy options to suit your specific needs.

For example, while working with Atlanta retailer Green’s Beer & Wine, we faced the challenge of an unconventionally shaped roof and multiple obstructions—but out team of engineers was able to successfully craft a system design which maximized the space for ultimate efficiency, going on to save the store $12,000 per year. (You can read more about our case studies here.) This attention to custom detail, plus regular monitoring options with our proprietary PowerEnfo smart grid software, allows us to deliver meaningful results to your commercial project.

Now that you know some of the big benefits behind solar energy, let Velo Solar guide you to your next steps! Contact us today to learn more. We look forward to working with you as you make positive changes for your business, the environment and beyond.

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Solar Finance Options in Georgia

There are several effective finance vehicles available in the state of Georgia to consider when looking to deploy rooftop solar in your business. It is a good idea to consider all your options before moving forward on a deal and this article is designed to help the average consumer vet the best option for his or her business.

Cash Purchase

Like most capital expenditures in a business, the most cost effective method of purchase is with cash from the business. This is almost always the cheapest form of capital and requires no debt obligations. There are some cases however where the opportunity cost of using cash in the business for a large capital expenditure such as solar can exceed the short-term benefit of the investment itself, thus leading to a constrained cashflow which can be detrimental to the vitality of the business. If this is the case, other forms of financing should be strongly considered.

Traditional Debt Financing

It was only a few years ago that traditional financing was rarely an option for small to midsized commercial solar projects. This was due to the fact that commercial solar and renewables, in general, were in somewhat of an unknown asset class creating a high perceived risk for lenders and investors. Thus, debt for these projects usually carried higher rates and early maturities leading to limited access to capital for commercial solar customers.

In recent years, lenders have started to see the benefits and relatively low-risk profile of commercial solar projects. Now that commercial solar has started to reach maturity as an industry, lenders are able to calculate real risks and returns more accurately and as a result, build terms and rates which are proportional to each project’s profile. This has resulted in lower interest rates (6-8%) and longer terms (10-15 yrs.) making traditional financing a viable option.

What does this mean for your business?

If your business carries a relatively mid to high credit rating, traditional financing should be an option to consider. The ideal scenario is to structure a deal where your monthly savings exceeds your loan payments, thus creating an ESCO-like (Energy Service Company) model which will yield positive and predictable cash flows from day one.

If you are planning on going through a re-fi on a property or already plan to finance a large CAPEX such as a rooftop, new property, or another infrastructure project, it would be wise to bundle your solar rooftop project into that loan package. This typically leads to a lower cost of capital due to consolidated underwriting costs, loan origination fees, and lower perceived risk to lenders due to a diversified asset portfolio.

Third Party Ownership (PPA)

The third financial vehicle to consider is somewhat unique to the solar industry. A Power Purchasing Agreement, or PPA, is a third-party finance model in which a third party constructs, owns and operates a rooftop solar array and sells the power generated to the lessee (off-taker). This structure is relatively new in the Georgia market and was recently introduced by House Bill 57 in July of 2015.  PPA structures have been made popular by firms such as Solar City, Sunrun, and SunEdison who have deployed most of their rooftop PPA projects in states where retail electricity costs are highest. This is because the PPA rate agreed to by the third party and off-taker must be competitive with the retail electricity rate from the grid for the arrangement to make economic sense.

What does this mean for your business?

The obvious benefit of a PPA is the avoidance of a large capital outlay for a solar array purchase by the off-taker. This arrangement allows your business to use solar energy at a lower rate than your utility’s retail rate during the daytime thus providing your business with some energy savings over a set period. This also produces a long-term hedge against utility price increases for your daytime use.

The drawbacks of a PPA are also obvious. The savings profile is not as attractive as actually owning the system outright and you are locked into a long term (usually 20-25 years) contract with a third party to purchase power. PPA contracts are usually assignable, but this can be perceived as a burden for most business owners who might look to sell the property or move their business.

Conclusion

These are only three basic financial options to look at when considering solar for your business and should be carefully vetted to determine which will yield the most benefit for your specific project and business model.

It is always a good idea to seek council from seasoned industry professionals when considering your options. Firms such as Velo Solar are great resources when it comes to navigating the renewable energy landscape. Call us at (404) 975-1948 for a free solar consultation or visit our website at www.velosolar.com.

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