Founded by brothers Jack and Michael Hidary, Global Solar Center (GSC) is an up-and-coming destination for all things solar in the ever-expanding market of alternative energies. GSC serves residential and commercial customers by analyzing and endorsing the best suppliers and installers in a market drenched in dealers whose quality is largely unknown. By offering free quotes concerning costs and incentives for those who decide to go solar and providing a network of reliable, quality installers and manufacturers, GSC is leading the way in solar energy and efficiency services. Michael Hidary, managing director and co-founder, spoke to MGB about how going solar is green for the environment and your wallet.
Do you see fewer people interested in solar technologies during this economic downturn?
There has been strong growth in the solar industry averaging about a 30 percent increase annually for the past five years. This past year there was a 50 percent growth rate. Of course, sales would be much stronger if the credit markets were open to more customers.
What would you say to those people who are afraid to make the transition because of financial reasons? What, in the long run, is the financial outcome for someone who switches?
A one-to-five-year payback is very common today in many states as a result of federal, state and local incentives. There are not many investments today where someone can realize a 20-to-100 percent annual return on investment. Since we know how much electricity a home or building consumes, we can fit the system size around that to minimize their bills.
It’s been said that people don’t trust new solar/alternative technologies.
The great thing about Solar PV is that the technology has been around for decades and is proven. Using satellite imagery to view the roof and orientation prior to an onsite visit reduces costs as many installers will blindly visit each prospective site without qualifying the customer first.
Since the rebates and incentives can be very complicated, we built a database by zip code so that a customer can quickly see what would be available to them. We also constantly update the system as newer programs are announced. We show the customer the breakdown of how we calculate their payback and invite them to review with their accountant to determine if they can take advantage of what’s available to them.
Where do you see the most sweeping switch to alternative energy? Is it because there is a larger network of installers/suppliers in that area?
Right now our busiest market is in New Jersey as the incentives are quite high. As a result of the high incentives, many of the companies that offer Power Purchase Agreement deals to customers have been closing deals. This enables the customer to have a solar array installed on their roof with no money out of pocket. The customer enters into an agreement with the financing provider to purchase the electricity under the agreed upon terms.
What, besides more incentives, do you hope will boost greater acceptance of alternative energies?
Global Solar Center is already accelerating the adoption of solar in the US as we remove many points of friction and reduce the sales cycle by four-to-six weeks. Another game changer will be the expansion of Property Assessed Clean Energy (PACE) Bonds, which will allow customers to take a loan from their city and pay it back over 20 years via their property taxes. This has already been proven in places like Berkeley, California.
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