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NM Solar Group Becomes Employee Owned

NM Solar Group NM Solar Group   

I started NM Solar Group in 2015.   It had always been my dream to start a company.   I had been warned of all the risks and challenges, but they didn't scare me. In my heart, I knew I could do it.   

 As the son of entrepreneurial parents, I learned that the key to any successful business venture is hard work. Quite simply, I was taught that if you just kept the faith and kept working, eventually you’d get to the other side. So that was what I did.

 The first year of NM Solar Group was very easily the hardest year of my life to date.  As any prospective small business owner will tell you, being solely responsible for the success of your dream can be daunting.

Throughout the stresses of the first year, there were several months where I was sick to my stomach every single minute of every single day. It was during that time that I realized the true challenges of entrepreneurship. No one wanted to help with anything; prospective advertisers, software programmers, and other business owners took advantage of me. I had never felt so alone or frustrated.

 But I stuck to my dreams and to parents’ advice. I worked hard, I kept the faith and piece by piece, NM Solar Group came together. In year two, with the right people by my side, the business grew 500%. What a miracle.

 With growth, comes problems. As the demand for solar increased, the need for NM Solar group to expand was apparent so we migrated from our home base in Albuquerque and established a second location in Alamogordo. Initially, working in both Alamogordo and Albuquerque proved to be much more difficult than I could’ve imagined. However, thanks to the great people in Alamogordo, and their acceptance of us, the expansion paid off. We were able to bring our solar services to an entire community; they took care of us and we took care of them. Still, having so much growth and only having one me made it somewhat scary to be the sole owner of an LLC.

 NM Solar Group quickly became the largest residential solar installer in the state of New Mexico. Our success is primarily attributed to our fair pricing, honest dealings and customer focused values. With all of this evolution and activity, I wanted the culture to continue. I wanted the company to succeed. I wanted the employees who built the company to be rewarded for the hard work. But wanting it wasn’t enough and I knew I needed guidance in getting us to where we wanted to go.

 During my research, I explored many different options: business brokers, venture capitalists, partners or even franchising but still, nothing felt quite right. As a company, we had built such an amazing culture of honesty, hard work and trust. I had to protect it! And as I learned more about ESOP programs, I knew it was the right fit.

 By choosing the Employee Stock Option Plan (ESOP), the employees that have worked tirelessly to build this company become it's true owners. That’s right, I’ve sold NM Solar Group! But to the best buyers around: my employees. As an authentically employee-owned company, NM Solar Group will continue to service our clients and provide the best experience possible. Prior to organizing the ESOP, I worked hard to build the best executive team, the best project management teams and the best install crews possible. It was no easy feat and it was certainly not without hardships, but we did it. 

 So what changes? Giving each employee a vested individual interest in the company’s success guarantees that we will reach new heights in our achievements as a team. It means that every screw on every system will be fastened by an owner of the company. Every service call placed to an NM Solar Group employee will be placed to an owner of the company. The person sweeping the floor in the warehouse? You guessed it. An owner. The successes and challenges of the business will be shared by every employee at NM Solar Group which means our team really, truly cares.

 NM Solar Group’s mission is to do as much solar as possible, the right way. I fully believe in our mission, more so every day. Over the past few years, the solar coaster has been more intense than I could’ve imagined but I am looking forward to continuing to lead the company, now as an employee. In doing so, NM Solar Group will continue to lead the industry and personally, I hope to continue to bring solar to home and business owners throughout New Mexico.

 NM Solar Group, a local and employee-owned company, would love to bring solar to your home and into your community. We are, without a doubt, the best solar provider for New Mexicans. We’re helping homeowners, we’re growing and we sure aren’t done yet. 

--- Ryan Wallace, Founder of NM Solar Group

Increase Home Value by Installing Solar

Installing solar panels on your house and owning the system can pay for itself with an increase in value to your home. According to a study conducted by Berkeley National Lab with Sandia National Labs, the average increase in a home's value across the nation is about $3.78 per Watt. The average home has a 6KW system, translating to (6KWx$3.78=$22,680) about a $22k increase in value immediately after the install is complete. Meaning homes with solar panel systems sell for more than without.

Do Solar Panels add Value to a house?

The study analyzed 20,000 homes in six states across the country to find out just how much a solar panel system would increase the price of a home. The study concluded, home values increased at a rate between $2.68- $4.31 per watt of energy. This data is just beginning to become an asset to realtors while selling homes. Solar panel systems are becoming exceedingly popular making it easier for realtors to value these systems, and recognize the potential for home value increase. Speaking to New Mexican appraiser Mark Raney, SRA who specializes in "valuation of sustainable homes, he says "Many appraisers use ‘PV value’, a program originally developed by a Sandia Labs engineer to get the value contribution.  Just type in the size and age of the system, the tilt of the panels and the zip code and they will set a value."

If you are thinking about purchasing a solar system for your home, the study should give you confidence that you are making a smart investment. The study found that homes with owned solar panels will benefit from a ‘solar premium’ when they are sold because buyers are willing to pay more for a home with solar panels.

The location, size, age, and efficiency must be considered when evaluating the value of a home with a PV system. To be sure you are getting the maximum value while getting your home appraisal done with your solar panel system, be sure to use one of the many New Mexican appraisers who specializes in the valuation of sustainable buildings

Is it worth the Investment?

This suggests that if you sell your house soon after you have a solar system installed, you will recoup most or all of your investment while saving money on your power bills. It also confirms: Payback periods on solar power systems are not something to be overly concerned about. Your solar system will either increase your home value should you decide to sell your house, or it will pay itself off in power bill savings before you move out. In both cases, solar is a sound investment."

Thinking about getting Solar? Click here to get a quote.

 

Sources:

EnergySage

Electricity Markets & Policy Group

 

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Solar Energy Saves Water

Solar Energy could be the answer we need to save one of our most valued resources. Water. Especially in a state that rarely comes out of a drought phase. We recently had the first day in over 90 that New Mexico received any measurable precipitation. We love our bright blue skies and brag about the sunshine, but we all know that New Mexicans crave a good day of heavy rain or snow. Today we all got to rejoice while our solar panels got a good rinse, and we could rest, assured that our water supply recouped a little of what we take from it each day.

One thing that not everyone knows, or understands is that power plants use an exuberant amount of water to give energy to the people. Water is used to pump crude oil out of the ground, remove pollutants from power plant exhaust, flush out residue after fossil fuels are burned, cool power plants, and much more. Our energy resources rely on water, much more than we probably realize. This is something New Mexican residents cannot ignore. You will see in the infographic below, created by One Block Off The Grid That Coal power plants use approximately 100-1,100 gallons per MWh, Nuclear uses 600-800 gallons/ MWh, natural gas 20-300 gallons/ Mwh, while solar uses nearly no water at all.

Switching your energy over to solar, with NM Solar Group won't just save you money on your electric bill monthly, but it will help preserve the scarce resource we all need.

 

To read more about water used for energy click here.

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