Former Duke Energy executive Matt Walz replaced Al Bucknam as CEO of San Luis Obispo-based REC Solar, the company announced August 24.
"The impact of this project is threefold: it addresses energy burden by reducing both home heating and electric costs; it enhances opportunities for distributed generation; and it demonstrates the viability of rooftop solar offerings for low-income households", said Joseph Pereira, director of low-income energy services for the Colorado Energy Office.
Walz previously served as the vice president of marketing and later as the vice president of commercial solar for Duke Energy in the Cincinnati area.
"Building off his tenure as a vice president at the nation's largest utility, Walz will help REC Solar further integrate with Duke Energy Renewables and create additional strategic partnerships to solve commercial customers' most pressing energy challenges", Duke added in a statement.
"As CEO, I am bringing together the almost two decades of solar experience at REC Solar with Duke Energy's more than 100 years' experience serving customers' energy needs", said Walz.
When Duke Energy acquired its majority interest in REC Solar in 2015, the company committed to invest up to Dollars 225 million in commercial solar projects developed through the commercial solar leader and supported by long-term power purchase agreements.
The aim is to make it easy for customers to save money and generate onsite solar power, while enabling access to fast financing, reliable service and comprehensive energy solutions.