One of the hottest business industries many entrepreneurs decided to focus on and invest in is renewable energy. Often referred to as clean energy, it has enormous potential. But renewable energy also comes with its specific challenges, including on the financial and accounting side.
How can we learn about them? Sarah Wells, Senior Vice President of Finance and Accounting at Spruce Power, joins us to share details about the renewable energy industry and its specific challenges.
Sarah is an experienced finance leader with a demonstrated history of working in the renewable energy and building materials industries. With her vast experience in operational strategy, budgeting, modeling, and overall business analysis, Sarah is the right person to educate us on the topic.
In this episode, we discuss the nuances of the renewable energy industry, skills and traits for accountants in the renewable energy sector, how a clean energy company functions operationally, among other interesting topics.
The Nuances of the Renewable Energy Industry
The solar energy industry is incredibly complex because of the limited partnerships, the federal tax attributes ascribed to these investments, and the legal entities required to protect those investors. The secret to dealing with it is to be as efficient as possible in managing projects.
“While the technical accounting standards tend to be the same, there are some unique things to the solar energy industry”
Looking for Solar Accountants
In terms of talent, Sarah looks for accountants that worked in the solar industry, either former auditors or accountants coming from audited, highly controlled, structured environments. Another important criterion is being constantly curious.
“Complacency is not a great spot to be in for an accountant”
See how we can help your renewable energy company reach new heights with our customized accounting solutions.