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Published: September 2007
Up-and-Coming Entrepreneur of the Month, Scott Blood of Empire Solar Store, discusses the economic and environmental potential of solar power for homeowners.
Success Magazine: Scott, what does success mean to you?
Scott Blood: Wow, I guess being financially and emotionally comfortable.
SM: How do you propose to achieve that?
SB: The emotional comfort comes from feeling secure and enjoying what I am doing. It is not strictly about making money and becoming rich. Initially, it is about paying the bills. If I become rich thereafter, I won't complain.
SM: What made you leave the comfort of your corporate job to start your own business?
SB: I always wanted to start my own business. I always wanted to venture out on my own. I was finally motivated to do so, because I was laid off from my corporate job.
SM: Why solar energy?
SB: I have always been intrigued by solar power and renewable energy. I researched the different opportunities, and I found that solar energy has tremendous business potential.
SM: Why did you decide to team with the USA Solar Store to launch your business? How are you getting your name out in the industry?
SB: The USA Solar Store originated in Vermont. It is a licensed store, so it was a chance to become a part of a larger entity, and share their name. As far as marketing, and getting our name out there, we're doing some advertising promotion, and we're very active in trade shows and energy expos. We are holding monthly seminars, designed to educate the consumer about our products and the tax incentives to go solar.
SM: How effective is solar energy in the Northeast?
SB: Solar Energy is reasonably effective in the northeast. We like to use Germany as a prime example of the feasibility of solar power. Germany gets less sun than the Northeast, yet they have a very aggressive and competent solar energy program. They are the largest consumer of solar energy in the world. They have very good government programs that help to make solar energy possible and worthwhile in their environment.
SM: Until we have an energy crisis in New York and our nation, the government is unlikely to develop large-scale solar programs. It will take an initial investment by the homeowner to install solar energy in homes. At what point does solar energy become economically viable?
SB: Today's solar energy products are substantially more energy and cost effective than they were in the 70's. New York State offers a lot of good energy incentives for solar electric programs. Even people who have expendable money are now watching a good portion of their disposable dollars go out the door to pay for their heat and utilities. So, we might stop seeing as many SUVs, as well as gas and electric toys and appliances in our homes. Before, in the 70's it was more that solar users were environmentally savvy people who wanted to make a difference. Now, it is the basic homeowner who does not want 25% of his or her paycheck going to the utility companies and to the government for the taxation of those utilities. The first thing that we talk about in the store is how to look at the home as a whole so that we can analyze what is feasible and what is necessary for someone to make their home more energy efficient. They may achieve efficiency through proper insulation, windows and doors; then they may incorporate the use of natural solar power to save on their energy bills. It is becoming much more feasible to install solar energy systems, and the return on investment is improving as the inevitable increase of our energy costs continue to rise.
SM: Who is your target market?
SB: The basic home owner is our target customer. I am also starting to work with builders in the region who, as you know, are building million dollar homes. If those homebuyers can afford to spend a million dollars on their home, they can probably afford to waste money on energy. However, they did not get rich by throwing money away, and those homes use a lot of power. So, homeowners of all different income levels are researching more powerful and positive ways to save on energy costs. They can certainly afford our solar system, with a very good return on their investment.
SM: Are there smaller units available to the consumer who wants to save money on a portion of their energy expenses, without going off grid?
SB: Yes, our solar units are available in diverse sizes to serve different purposes, and have varying costs associated with them. We are also looking into delivering a prefab home that is entirely off the grid. These off-grid homes would save the average home owner $4,800 per year in energy expenses. They would be perfect homes for new homeowners, or for a vacation or retirement home. This house would make a family entirely independent of utilities and utilities taxes. I want to be able to give back to society and to the environment at the same time. I am tired of giving my paycheck to the utilities, oil companies and government.
SM: What incentives does New York State give to purchasers of Solar Energy systems?
SB: Whenever you buy energy star products, you receive tax credits. The major incentive in NYS is the per watt installed incentive savings program. If you have a 4 kilowatt, system you get back about $16,000 over time. You would get back a tremendous amount of money as a tax rebate.
SM: As an entrepreneur did you have a business plan or market plan?
SB: Not an official plan. I was laid off and this opportunity arose so I jumped into the program very rapidly.
SM: I understand you will be bringing in energy efficient building partners to provide a full service "Energy Efficient Home" program?
SB: Yes, we are networking with other qualified home builders and renovation companies that have established themselves as energy efficient installers for windows, siding, doors, and insulation products to make the home more energy efficient.
SM: Having gone through the first phase of business, what advice would you give to an entrepreneur who is just starting out?
SB: Make sure that you have a lot of capital set aside to help you weather the first six months of operation in your business, to get through the incubation period. You need capital to get started, and to maintain your business. You also need to know the business of what you are getting involved in. Know the product, the industry, and your competition. I knew quite a bit about renewable energy before opening the doors to my showroom, but now I have to know everything to be competitive with people who have been in the field longer. Energy related products are constantly being enhanced and changing, so it's critical that I stay on top of the changes in the industry. Try to know your business inside and out before you open your doors. Planning, planning, planning...
SM: If you had to describe yourself in one word what would it be?
SB: Enthusiastic, you have to be enthusiastic about your product, your company, and your ability to succeed.
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