REC Solar

Mainstream Energy Corporation purchased REC Solar in 2006, combining it with its other company AEE Solar. AEE Solar is a large wholesale distributor of solar energy products like solar panels and inverters.

In 2007, Mainstream Energy announced that REC Solar had agreed to install large scale commercial solar arrays for Costco wholesale retailer.[2] These arrays were to be placed on four Costco buildings in western US states, the first being a 680 kW DC installation on the Costco in Kona, Hawaii.[3] These installations are now delivering power.

In 2008, Mainstream Energy in turn received an investment of $40 million in return for a 20% stake in the company belonging to the Renewable Energy Corporation of Norway. Known as the REC Group, the Norwegian company manufactures silicon for incorporation in solar cells and modules in plants throughout Europe and in North America. It sells these products worldwide.[4]

Included among recent projects, REC Solar installed solar arrays for companies and organizations such as Safeway, IKEA, Fresh & Easy, Taylor Farms and the Department of Veterans Affairs.[5] These renewable energy systems are expected to last years beyond that payback date, with on-going energy production at very low cost.

In 2013, REC Solar was listed as the No. 10 solar contractor in the US, specializing in utility, commercial and residential-scale installations, by Solar Power World magazine.[6]

In February 2014, Mainstream Energy sold the residential division of REC Solar, AEE Solar, and Snap N' Rack to Sunrun.[7] REC Solar is now strictly focused on bringing affordable energy solutions to commercial customers.[8]

In June 2015, REC Solar acquired Stellar Energy, a California-based commercial solar provider.[9]

In February 2015, Duke Energy announced a majority share acquisition of REC Solar. Additionally, Duke pledged up to $225 million towards REC Solar power purchase agreements. [10]

In July 2017, REC Solar was named the eight top commercial solar contractor in Solar Power World's 2018 Top 500 Solar Contractors List.[11]

In November 2017, REC Solar celebrated their 20th year in business, with more than 300 megawatts of solar installed across 650+ projects in 22 states.[12]

In December 2017, Duke Energy acquired full ownership of REC Solar. REC Solar continues to be a part of Duke Energy Renewables, Duke Energy’s commercial renewables organization.[13]

In July 2018, REC Solar was named the third top commercial solar contractor in Solar Power World’s 2018 Top 500 Solar Contractors List.[14]

• October 2015: Two solar energy arrays totaling 388 kW at Niner Wine Estates in Paso Robles, Calif. Together, the systems will provide enough clean energy to power 100 percent of Niner’s 46-acre Heart Hill Vineyard, including the tasting room, restaurant and winery operations. Niner will save approximately $2 million over a 20-year period.
• November 2015: 12-megawatt (AC) solar array for Kaua‘i Island Utility Cooperative (KIUC) in Anahola, HI. The utility-scale system is the largest in the state of Hawaii and REC Solar’s largest project to date. The 60-acre PV system will generate twenty percent of the island’s annual energy needs during the daylight hours. The installation is coupled with a six megawatt lithium-ion battery system designed to smooth the integration of solar power on the grid. By generating clean energy on the island, KIUC will decrease fossil fuel imports from the mainland and save nearly $250,000 a month on operating costs alone.[15]
• September 2016: 1 megawatt (MW) project for Taylor Farms in Gonzales, California. This system coupled with its existing wind turbine can offset more than 25 percent of that facility’s energy consumption during peak periods.[16] REC Solar previously completed a solar project for Taylor Farms in Salinas, California, and is working with the company on additional projects for facilities in Tracy, California and Dallas, Texas.[17]
• November 2016: 1.16-megawatt commercial solar and energy storage system from REC Solar and Green Charge for Sonoma Mount Village in Rohnert Park, Calif. The combined solar-plus-storage system is expected to deliver more than $160,000 savings in the first year and more than $1.8 million over the first 10 years of operations, and will bring the mixed-use development to 100% on-site renewable energy. [18]
• March 2017: 27.6 megawatt (AC) solar installation for the Eurus Waianae Solar Project in Hawaii. The utility-scale project, whose yearly energy output is equivalent to the electricity used by 11,000 homes, was built on 200 acres in West Oahu. The Eurus Waianae Solar Project sells its energy to Hawaiian Electric Company, Inc. under a 22-year PPA and at approximately 14.5 cents per kilowatt-hour, making it one of Hawaii’s lowest-cost renewable energy projects.[19]
• April 2017: A microgrid (including a 500-kilowatt solar photovoltaic system and a 950 kWh Tesla battery storage system) for Blue Lake Rancheria. This low-carbon community microgrid will help the century-old Native American reservation in Northern California to power government offices, economic enterprises, and critical Red Cross safety shelter-in place facilities across 100 acres. This project is estimated to save the Tribe over $200,000 in annual energy costs, will reduce at least 150 tons of carbon per year and will grow Tribal clean energy jobs by 10 percent.[20]
• April 2017: A microgrid consisting of a 354-kilowatt (AC) solar array and natural gas generator for Schneider Electric's Boston One campus. The microgrid is expected to generate more than 520,000 kilowatt-hours (kWh) of electricity per year. The natural gas generator as an anchor resource, allowing the solar panels to operate during grid outages to maintain critical operations.[21]
• June 2017: 2.94 megawatt (DC) solar installation for Applied Medical at their multi-facility corporate headquarters and a local distribution center. The solar system consists of rooftop arrays on eight separate buildings. Combined, they generate almost five million kilowatt hours of electricity annually, enough to power more than 370 homes, or about 15 percent of the facility’s energy.[22]
• August 2017: 517-kw rooftop solar system for San Antonio Winery’s Paso Robles Production Facility. It generates 827,000 kilowatt hours of electricity annually, enough to power 60 homes for a year. The system will provide about 80 percent of the energy needed for the facility and is expected to save more than $4 million over the next 30 years.[23]
• August 2017: 550-kw rooftop solar system for Zurn Industries. The system meets 88% of the facility's electricity needs and powers manufacturing process for irrigation equipment. It generates 940,000 kilowatt hours of electricity annually, enough to power 70 homes electricity for a year, and is expected to save Zurn Industries an average of about $110,000 annually for the life of the system.[24]
• January 2018: 4.5-megawatt (AC) solar farm for Cal Poly in San Luis Obispo, CA. The 18.5-acre facility will generate up to a quarter of university’s electricity, create millions of dollars in savings. Cal Poly partnered with San Luis Obispo-based REC Solar (which was founded by Cal Poly graduates) to design, construct and maintain the solar facility.[25]
• April 2018: 20-megawatt (AC) fixed-tilt solar facility, located at the U.S. Navy’s Joint Base Pearl Harbor-Hickam West Loch Annex on the island of Oahu, HI. Hawaiian Electric partnered with REC Solar and the U.S Navy on the solar farm, which will produce the lowest-cost renewable energy in the state at less than 8 cents per kilowatt-hour (projected to save customers $109 million over its expected 25-year lifespan).[26]
• October 2018: 432 kW, fixed-tilt solar facility in the Greenfield, California for Franscioni & Griva Corporation. Once completed, the solar farm will provide the energy equivalent to 112 passenger vehicles or 79 homes. [27]
• October 2018: The official activation of two advanced microgrids, consisting of a 2-megawatt (AC) solar project and two combined heat and power (CHP) units, for Montgomery County, MD. The completed project is provided through an innovative public-private partnership with Schneider Electric and Duke Energy Renewables that required no upfront costs for the County. The two advanced microgrids will produce over 11 million kWh per year with solar and combined heat and power.[28] [29]

• Google Finance