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Scott Wiater: President, Standard Solar

Scott Wiater joined the solar industry three years ago when a private equity firm purchased Rockville, Md.-based Standard Solar and made him the president of the company. He says he feels fortunate to be in the industry and in particular this company that, under his leadership, recently made Inc.’s 5000 list of the fastest growing companies in the country.

Standard Solar has grown 1,686% in the past three years and posted revenues of $23 million last year. It has installed 10 mW worth of projects and continues to build more projects. Wiater says the company expects to double the size of its revenues in 2011 and is bullish on the future.

What Wiater believes separates Standard Solar from other contractors is the fact that the company can handle a project from the concept to the installation.

“We can control a project from end-to-end, which means that we are in control and can eliminate some of the natural waste that is involved in projects,” Wiater says. “We’re in this for the long-term.”

The solar industry is a high-growth industry for companies that are committed to it, Wiater says. But it is fragmented and still in its infancy, and part of what’s causing the fragmentation is the uneasiness surrounding the future of governmental subsidies.

“We’re going to have to stand on our own at some point,” Wiater says. “But until that day comes, we need to see some stability in the incentive programs.

“The companies investing in solar energy don’t like instability,” he adds. “Every time there’s a discussion of the subsidies, it sends a ripple through the industry. That makes it harder to make long-term plans.”

Wiater also sees consolidation hitting the industry soon.

“You’ll have about 12 companies at the top of the industry doing about 80 percent of the business,” Wiater says. “Then you’ll have a bunch of companies below that divvying up the rest.” SPW