SM: What is your prognosis on solar? Are we going to have grid parity in 2012? MH: I think we will have grid parity on the retail side, the distributed generation side, which is systems on houses and office buildings. I think that people will then challenge the whole premise.
SM: Will you limit yourselves strictly to project financing? Do you envision a technical leadership role? MH: Our industry is new enough that we absolutely need to stay involved in engineering and evaluating new technologies. We have a technology group that does evaluations and downstream technology development such as balancing systems and racking.
SM: Is your business entirely residential? MH: No. Now we are entirely the other way. I took over as CEO in January. After the investment came in we restructured the board and the company. We had separated into two divisions in 2007, which provided a nice, clean way of splitting. Accordingly, we sold the residential
SM: What was the process of finding your mentors? MH: There is a group in San Diego called the Chairman’s Roundtable. Semi-retired business leaders volunteer their time. They only work with companies with over $10 million in revenue and want to grow.
SM: How long were you able to take advantage of the beneficial AdWords pricing? MH: Within four or five months people started realizing that Borrego Solar was advertising there so they figured they should, too.
SM: So you had a perspective for your search for a green economy job. MH: Exactly. It’s funny because in 2001, my brother and the original founder of Borrego Solar had re-incorporated the company and moved it to San Diego where they tried to grow the business.
Mike Hall serves as CEO and board member for Borrego Solar Systems, Inc. Mike has been with Borrego Solar since 2002. Prior to joining the company, he worked as a product development engineer for Applied Materials in Santa Clara. He holds a MS in Chemical Engineering from Stanford University and a BS in Chemical Engineering
SM: What is the future of venture capital? GT: It will go back to its roots. It will be a smaller industry with fewer firms practicing it as a craft. There will be smaller fund sizes. I do not believe there is evidence that venture capital is an industry that scales.