It’s been quite a 2020 at Inovateus. Despite the pandemic, our mission to build a brilliant tomorrow with solar solutions continued with only minor delays in construction. As of the end of 2020, Inovateus now has over 500 MW of solar built or under development. The year also had many firsts for the company. Here are some of the highlights:
2020: Prioritizing Sustainability and Investing in Your Energy Future
In March, Tyler Kanczuzewski, our VP of Marketing and Sustainability, published the company’s first-ever sustainability report, benchmarking the company’s carbon footprint and setting a development plan to build more sustainable solar installations. Specifically, our report also sets three goals:
Goal 1: Developing one gigawatt total (or 600 + more MW developed) of solar + energy storage delivered to the energy market by 2025.
Goal 2: Having carbon neutral operations by 2025, with a net positive impact on the planet
Goal 3: Become a renewable energy industry thought leader and educator, and grow stewardship and sustainable practices across the U.S.
Inovateus is proud to be leading sustainable solar development in the Midwest and across the U.S., but our efforts are just beginning. We’ll continue to be accountable, publishing a new sustainability report every year.
Shortly after publishing our first annual sustainability report, we announced the completion of our first net-zero waste solar projects for NIPSCO, a Northern Indiana utility. Inovateus team members and our construction partners ensured that all construction waste—mainly plastics, cardboard, pallets, and packaging materials—were either recycled, repurposed, or reused. In addition, we’re also proud that these three net-zero waste commercial projects were NIPSCO’s first solar projects.
Despite the seriousness of the pandemic and our sustainability efforts, Inovateus also tried to maintain our sense of humor. We were pleased that PV Magazine published our April Fool’s joke about our new “100% zero waste bathrooms.” A month later, we released an Earth Day celebration video that asked kids about their solutions for climate change and preserving the environment. As you’ll see, the kids offered some creative solutions, including Mermaid Power:
In June 2020, we also saw the start of our 16 MW Logansport, Indiana solar project. In addition to being the City’s first solar project, Inovateus will plant a honeybee and butterfly pollinator mix as ground cover under the solar panels. Once grown and mature, the habitat will support pollinating the crops of local farmers and naturally enhance the appearance of the solar field.
Soon after, we announced that Middleburg Capital Development (MCD) had made a significant investment in the company and appointed Timothy F. Sutherland as Chairman of the board of directors. I urge you to read Tim’s blog that eloquently captures his reasonings for MCD’s investment. MCD’s ownership investment will enable us to further expand our solar development operations beyond the Midwest and to provide customers with expanded services and project financing opportunities.
The new financing opportunities include the launch of Brilliant Capital. As we announced in October, Brilliant Capital is a new solar financing venture formed by Inovateus, MCD, and Logikan Group. Having Brilliant Capital as our financing partner will allow Inovateus to develop and build projects faster. For more about how Brilliant Capital will speed up projects, watch a recording of our recent webinar:
Finally, in 2020, we were honored to win POWER Top Plant award for renewable energy for our Kokomo Solar 1 Indiana “brightfield” project. This Power Magazine award recognized our work remediating and transforming a brownfield and EPA superfund site into a 7.2 MW solar field for the City of Kokomo.
2021: Building an Even Brighter Tomorrow
If 2020 was an exciting year with pandemic twists and turns, we anticipate that 2021 will be more stable—but still exciting. First, we’ll have the deployment of COVID vaccines, which means that solar workers in the Midwest and throughout the nation will soon be protected from COVID-19. We’re also excited that Congress recently passed a two-year extension of the 26% solar investment tax credit (ITC), delaying the ITC step down to 22%. Maintaining the 26% level will enable more tax equity investments and enable more utilities, cities, schools, and universities to go solar.
We’re also excited to continue to fulfill our sustainability goals in 2021. Our team is already speaking to our solar equipment suppliers about their sustainability initiatives, encouraging them to reduce the carbon footprint of their finished products and supply chains. As a solar leader in the Midwest, we will also continue our efforts to become carbon neutral by 2025 and develop end-of-life decommissioning best practices for our solar projects.
Wherever you are in the world, thank you for being a part of our solar community. We wish you a very safe, sustainable, and happy new year as we continue to build a brilliant tomorrow.
