Sustainable energy solutions have become essential, and Plankton Energy has established itself as a leader in commercial solar development. The company, founded in 2018, has created successful solar power projects across the United States.
Mastering the Solar Development Industry
Plankton Energy, based in New York, delivers comprehensive commercial solar solutions. The company combines project development, finance, engineering, and academic research capabilities to generate economic and environmental value for its clients.
“We transform unused spaces into clean energy powerhouses,” says Dan Giuffrida, founder and CEO of Plankton Energy. “We see potential for sustainable energy generation in every rooftop and parking lot.”
This direction has driven Plankton Energy to build an extensive portfolio of projects across multiple states, serving schools, houses of worship, non-profits, and small to medium enterprises.
Powering Success Across Industries
Plankton Energy serves a wide range of clients through various projects that demonstrate the company’s technical capabilities.
The company completed a 600kW rooftop solar system for Sportika, a premier indoor sports and recreation facility in New Jersey. This installation, which began operating in late 2022, generates approximately 800,000 kWh of solar power annually, enabling Sportika to meet 100% of its electricity needs.
“The Sportika project demonstrates how businesses can reduce their energy costs while creating a positive environmental impact,” Giuffrida explains.
Solar Success Stories: From Classrooms to Courts
Plankton Energy completed a 229 kW rooftop solar system at Cheshire Academy in Cheshire, CT, in February 2023. The company funded the entire project at zero cost to the academy, utilizing the roofs of multiple campus buildings, including the John J. White ’38 Science & Technology Center and the Gideon Welles Dining Commons.
The Cheshire Academy installation generates approximately 272,000 kWh of solar power annually. The system will save the academy over $297,000 on electricity expenses and eliminate over 1,248 metric tons of CO2 emissions, which equals the CO2 produced by consuming 140,000 gallons of gasoline.
“Our mission empowers students to thrive as global citizens. Nothing proves more global than our environment, and the solar cells and energy made possible through our work with Plankton reminds our students, faculty, staff, alumni, and visitors daily that acting locally creates positive global impacts,” said Jennifer Dillon, sustainability coordinator of Cheshire Academy.
Meet the Solar Power Pioneers
Plankton Energy stands out through its project execution and skilled team members. Dan Giuffrida, the founder and CEO, previously served as vice president at Safari Energy, where he led the financing and development of over 100 MW of distributed solar projects. He teaches Solar Project Development at the Earth Institute at Columbia University.
Nik Mittal, a partner, manages transaction structuring and strategic planning. Mittal founded Molecule Ventures LLC, a New York City-based environmental markets investment firm, and serves on the Board of Directors of JetBlue Airways.
Rachel Margolese, the engineering & operations manager, leads the technical aspects of Plankton’s projects. She worked at Underwriters Laboratory as a solar engineer on their Renewables Due Diligence team, where she reviewed electrical plant design and grid interconnection.
New Laws Spark Growth
The Inflation Reduction Act (IRA) has created opportunities in the mid-market solar sector. The investment tax credit remains at 30% for qualifying projects through 2032. The law made the tax credits “portable,” which reduced barriers to tax equity investment and benefited mid-market projects particularly well.
These policy updates enabled Plankton Energy to expand its operations. The Cheshire Academy project succeeded through the Connecticut Zero Emission Renewable Energy Credit Program and the Federal Investment Tax Credit (ITC), which Congress extended through the IRA.
Illuminating Tomorrow’s Energy Industry
Plankton Energy continues to grow across the United States while focusing on making clean energy accessible and cost-effective for businesses and organizations.
“We partner with our clients for sustainability,” Giuffrida states. “We help our clients reduce their carbon footprint and improve their financial results simultaneously.”
The company plans to expand and serve schools, houses of worship, non-profits, and small to medium enterprises, bringing solar energy benefits to diverse communities.
Plankton Energy advances commercial solar power in America. Its projects span various states and contribute to renewable energy adoption in the United States. The U.S. added 42GW of new renewable power generating capacity to the grid in 2023, while overall investment in energy transition reached $303B, a 68% increase since 2020. Companies like Plankton Energy lead this clean energy transformation.