Nelnet drops residential solar business, focuses on C&I projects

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Due to the challenging regulatory and economic conditions within the residential solar market, Nelnet Renewable Energy announced a strategic shift in its solar engineering, procurement, and construction (EPC) operations to focus exclusively on the commercial solar market and discontinue its residential solar operations.

“Nelnet is committed to being an industry leading commercial solar EPC contractor and consultant with resources, knowledge, and people to deliver high quality projects and solutions for our customers,” said Jim Kruger, Nelnet chief financial officer.

Nelnet is a publicly traded financial services company, largely focused on educational services, technology solutions, professional services, telecommunications, and asset management. As a brand of Nelnet, Nelnet Renewable Energy serves others by financing, developing, deploying, and operating clean energy solutions that create sustainable value.

In 2020, Nelnet Renewable Energy started offering services to help solar developers find subscribers for their community solar projects. In 2022, Nelnet started to design and build projects of its own after acquiring a controlling investment in affiliates of GRNE Solutions known as GRNE Solar.

Nelnet Renewable Energy says it will honor its existing warranty and contractual obligations for residential projects installed to date and will proactively communicate with customers and other relevant stakeholders about available service and support.

On the commercial side, thanks to the IRA, Nelnet Renewable Energy remains optimistic, especially in the Midwest and New York. GRNE was a Midwest solar EPC, with projects across Illinois, Indiana, Iowa, Nebraska, Missouri, and Colorado. Nelnet Renewable Energy currently has 15 projects under construction with an average size of 4 MW.

“We look forward to strengthening our position in the commercial solar market, driving innovation and contributing to a cleaner, more sustainable future for all,” said Kruger. “With a strong foundation in construction and solar experience, we are set to deliver projects that exceed expectations in quality and efficiency with meticulous execution. We thank our customers, partners, and stakeholders for their continued support and trust.”

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