A Twin Cities solar installer hit a growth spurt in 2010 thanks to lower prices and new rebates.
Innovative Power Systems, which installs solar electric and solar thermal panels, as well as wind turbines, says sales are up about 50 percent compared to this time last year.
The company's growth had previously been averaging about 15 percent to 20 percent.
Sales manager Jamie Borell says the cost of solar electric panels has been cut in half over the past few years. Meanwhile,
new state and federal incentives are covering more upfront costs.
The changes are making solar projects more accessible to middle-class budgets, he says.
"I think there's a growing awareness, as well, about where our electricity comes from, and people want cleaner options for their electricity," says Borell.
Since this time last year, the company has grown from 14 employees to 23 (including outside sales reps) and moved from southeast Minneapolis to the western edge of St. Paul. The new office and warehouse space gives it better freeway access and more room to grow.
Meanwhile, there's more competition for the 20-year-old solar pioneer. Borell estimates the number of solar installers in the Twin Cities has grown from about half a dozen a few years ago to more than 50 today. One factor besides the prices and rebates: the recession has pushed some electricians to update and diversify their skills with renewable energy.
Source: Jamie Borell, Innovative Power Systems
Writer:
Dan Haugen