John Blake Interview
President/CEO continued

Does that mean unhooking from the traditional power grid?
No. The connection remains so electricity is available when the sun isn't shining.

When and how did you get involved with Nationwide Solar Power?
Three years ago, I joined a private foundation as its Director of Venture Philanthropy. Our geographical focus for projects was East Africa. Our guiding principal for projects was a triple bottom line. For us, that meant a project that was set up to make a profit for its principals, that would produce goods or services to benefit the people in the community, and where appropriate that would be beneficial to the environment. We turned our focus at one point to renewable energy and decided that the solar sector would be the best place for the foundation to work. Our entry point was determined to be buildings and land in the investment portfolio of the founder of the foundation. Since his company is a land and real estate investment management company, it was natural to start within the portfolio.

Is Nationwide Solar Power part of the foundation or the real estate management company?
No. It is a stand-alone, for-profit company that we spun out of the foundation.

What would be the basic structure of a project?
A building may or may not be occupied by its owner. Whatever the case may be, the owner starts with a desire to control his energy cost for his building and make predictable the cost of energy for the next 20-25 years. Over the last 30 or so years the cost of electricity has increased on average 6.7% per year. That means the typical energy bill has doubled every 9 years. It is generally believed this is only going to get worse, especially considering that in the last 30 years we have had the cheapest oil and gas prices we will probably ever see. So it starts with an owner that wants to save money.
We analyze the energy usage for the immediately preceding 12 months. We then design a system to produce 80-90% of that energy. We then review the site to determine the configuration of the system. Based on that, we estimate the project cost. If the owner wants to move forward, we enter into a non-binding letter of intent. If the owner would prefer not to use his own funds for the project and not to borrow the money, we then arrange for financing with an outside investor. The owner then enters into what is called a power purchase agreement which says how much power will be provided and what the price will be for the next 20-25 years.

What services do you and your team provide?
We design, install, finance, operate and maintain the system.

How does energy efficiency fit into a project?
Every project we do gets an energy efficiency analysis. We consider this the low hanging fruit. Efficiencies are less expensive than solar production. We can usually significantly reduce the cost of a project by this approach. The less energy needed the lower the price.

Are you tied to any particular vendors for panels or equipment?
No.

What kind of projects are you currently working on?
In the portfolio there are between 6 and 12 buildings that are candidates. In addition there are three vacant land parcels that will probably not be developed for many years. These are between 50 acres and 800 acres and would be utility-scale projects, meaning large installations. In addition we are working on two local high schools, a produce packing plant, a winery, a temple, and a warehouse.

What is your professional background and experience?
Notre Dame undergraduate and Northwestern Law School. Assistant Attorney General for the State of Washington doing trial work. Started my own law firm. Owned and operated a large beach-front restaurant for eight years. Founded a community bank and was the Chairman of the Board for four years and President for one year. Built a large sport center for two local non-profit organizations. Helped found a unique medical center focused on wellness and a non-insurance-based business model. Was vice president, secretary, and corporate counsel for six years for a 50-year-old, executive-development company with 12,000 business owners and presidents, world wide, as members. Then came the foundation.

What sets Nationwide Solar Power apart from other developers in the solar sector?
That's an easy one. We are owner-centric. Since we are starting with our own portfolio of buildings, we view everything through the eyes of the building owner. Also, since most buildings are not owner-occupied we are sensitive to the unique perspectives of property managers and tenants. We treat our clients the way we want to be treated as a building owner. It makes a difference.