Client:
Robert Evans
Independent Energy Systems
1115 Thompson Ave. #1
Santa Cruz, CA 95062
(831) 477-0943
www.iesolar.com

SBDC Consultant:
Jim Weisenstein
Central Coast SBDC at Cabrillo College
6500 Soquel Drive
Aptos, CA 95003
(831) 479-6136
www.centralcoastsbdc.org

Client Profile - Independent Energy Systems (IES) specializes in the design, installation and sales of solar electric and thermal systems for residential and commercial properties in Santa Cruz and the Monterey Bay area. President and founder Robert Evans began his business in 2001 with the mission of providing the community with an opportunity to participate in renewable energy. In 2006, the California government showed support of this future in renewable energy by passing the “Million Solar Roofs Bill, SB 1”, which provides $3.2B over 10 years in rebates to solar electric system purchasers throughout the state.

Challenges - Knowing that the rebate program was solid, Evans was ready to aggressively grow his company with the goal of doubling his revenue. The company had a strong backlog of orders but there was a risk of assuring adequate supply of solar panels if he increased sales. Also, Evans needed to develop sound financial projections to present to local lenders with the goal of securing working capital.

Actions Taken - Evans met with Central Coast SBDC Consultant Jim Weisenstein who conducted an initial business assessment. During the first few meetings they outlined 2006 financial objectives, an ideal client profile, existing and potential solar panel suppliers, and potential lender requirements. Additionally, Weisenstein suggested increasing staff so that Evans could focus on growing the business. He met with Weisenstein again to assess the financial health of IES, was recommended to increase IES’ profit margin and reduce costs of goods sold.

A few months later, IES was a preferred customer for a new solar panel supplier, and Evans had secured a home equity line of credit. Profits increased, 10 additional full-time employees were added, and IES secured 4000 sq ft of additional shop space. By the end of 2006, IES exceeded the original goal and nearly tripled revenue in one year to $3.3M. Evans was also honored to be a presenter at the Association of Monterey Bay Area Governments (AMBAG) Tri-County Economic Conference on “Leveraging the Green Economy” in January 2007.