This article is sponsored by MARS Energy. In this Voices interview, Solar Power World spoke with Manvendra Saxena, Chairman and CEO of MARS Energy, to discuss the company’s rapid growth and its strategic approach to commercial and industrial (C&I) solar.
Editor’s note: This interview has been edited for length and clarity.
Solar Power World: Can you tell us about your background and what led you to your role as CEO of MARS Energy?
Manvendra Saxena: I grew up in India with an engineering background and came to the U.S. for business school. Early on, I realized I was drawn to entrepreneurship, but I wasn’t the type to start something from scratch. I learned I was passionate about taking existing businesses and scaling them—growing them from one to ten rather than zero to one. That’s what led me to entrepreneurship through acquisition.
My first venture was acquiring a street sweeping company in the Bay Area. As CEO, I focused on scaling the business through a roll-up strategy, acquiring multiple companies, and consolidating operations, which led to a successful exit to a large private equity fund. It was an incredible experience I immediately knew I wanted to do all over again, but this time more intentionally.
In December 2022, I acquired a commercial solar developer in Northern California and launched MARS Energy Group. Since then, we’ve been on a rapid growth trajectory. We’ve acquired five companies, expanded operations across California, expanded into Illinois, and are actively expanding into more states.
What were the motivating factors that drove you to the solar industry?
I took a step back and asked myself two key questions: First, where’s the next big opportunity? I wanted to be in an industry with massive growth potential. Second, how can I create meaningful impact? I felt the need to build not just a financially rewarding venture, but one that drives innovation, and creates lasting value. That’s when solar caught my attention.
It had everything I was looking for—explosive growth potential, long-term sustainability, and a chance to be at the forefront of an industry transforming the energy landscape.
It’s been an incredible journey so far and what excites me the most is this is only the beginning.
Could you walk us through the different business functions that MARS Energy offers?
At MARS Energy, we’ve structured our business into three core divisions, each playing a critical role in delivering end-to-end energy solutions.
First, we have MARS Energy Development, which handles sales and business development This team works closely with customers to design tailored solar solutions, navigate financing options and bring projects to life.
Next is MARS Energy EPC, where we handle construction and installation of our solar systems. We’ve built a strong team of electricians, journeymen and apprentices who ensure projects are completed safely, efficiently and to the highest standards.
Then there’s Solara, our new-home construction division. Right now, it’s primarily focused on single-family homes in California, where solar is required for all new builds. As the market evolves, we see opportunities to expand into multi-family developments and beyond.
Beyond these core divisions, we have shared services — finance, accounting, HR, technology, marketing and procurement — that support all areas of the business —and ensure smooth operations across the board.
We’ve also developed specialized product lines: SolarCare+, our operations and maintenance (O&M) brand, provides long-term system upkeep to maximize performance. We have an energy brokerage which helps clients navigate power markets and optimize energy costs. Lastly, we have our power purchase agreement (PPA) solution, where we provide financing structures that make solar projects more accessible.
Overall, we’ve built a comprehensive and scalable platform that allows us to serve a wide range of customers, and I think that’s the real key to succeeding in this industry.
Can you share some insights into the company’s growth over the past few years?
When we acquired our first company, it was generating about $15 million in revenue — today we’re on track to surpass $100 million by the end of this year. The best part of this is that a significant portion of our growth has been organic. Even having acquired five companies, we’ve been able to scale so quickly, this shows that we made the right acquisitions at the right time and successfully integrated and expanded those businesses.
Back in 2022, our team was so small you could count us on two hands. Since then, we’ve grown tremendously, and by the end of this year, we expect to have over 200 people across our different divisions. One of the things I’m most proud of is the incredible work being done by our shared services teams. They’ve built and found a highly skilled group of experts who are the backbone of our operations, ensuring that everything in each department runs seamlessly as we grow.
To support our growth, we developed a “MARS operating system.” It’s a combination of our proprietary enterprise resource planning (ERP) software and a robust tech stack that we’ve built in-house. This system has allowed us to streamline operations, optimize project execution and scale efficiently without sacrificing quality.
Our focus over the last three years has remained the same — building a company with a strong foundation to ensure sustainable, long-term growth. We’re being intentional about how we grow so that we can continue delivering value to our customers, partners and employees for years to come.
What lessons have you learned about the renewable energy industry along the way?
One key lesson I’ve learned is just how vast and diverse the renewable energy industry is.
In residential solar, while companies in this space have been able to scale, it’s incredibly challenging to build a long-term profitable business. Even some of the biggest players in this segment have struggled with maintaining profitability.
In utility-scale solar, projects offer strong margins but can be inconsistent due to the unpredictable nature of large-scale project approvals.
Commercial and Industrial (C&I) projects offer higher margins than residential. While they aren’t nearly as complex as utility scale projects, they provide more technical depth and diverse problem-solving opportunities. More importantly, the C&I space remains relatively open, with few national-scale commercial solar providers. I believe this area is our sweet spot. This is where we see our biggest opportunity — to become a dominant force in this growing market.
Another lesson is that expanding into multiple states comes with significant challenges. Every state has its own utility regulations, incentives, and permitting processes, making it difficult to scale efficiently. Even experienced solar professionals in California may struggle to adapt to markets in other states. That’s why our approach has been strategic; we focus on hiring and developing local teams or acquiring companies with established expertise in their respective markets. This localized strategy gives us a competitive edge and allows us to navigate complex regulatory landscapes more effectively.
MARS Energy is expanding beyond California and the Midwest into the East Coast. What factors are driving this expansion, and what opportunities or challenges do you see in these new markets?
California has long been at the forefront of solar adoption, experiencing tremendous growth over the past 10 to 15 years. Expansion is still possible, but the easier gains are gone. Our focus now is on identifying the next “California” — not necessarily in size, but in growth potential.
We took time to research major key factors in different states, several being promising. Right now, we’re focusing on Illinois where we’re recently expanded and are very excited about.
Beyond policy and incentives, one of the biggest reasons for our success so far in Illinois is the incredible team we’ve built there. We’re fortunate to have Eric Peterman, President of MARS Energy EPC, join us at the board level. Eric brings deep experience, having previously scaled a successful C&I solar business and led it through an acquisition by a public company. His expertise, combined with a strong local presence, has been instrumental in helping us scale effectively in the Midwest.
The combination of market opportunity, favorable incentives, and top-tier leadership has set us up for long-term success, and we’re thrilled with the momentum we’re already seeing in Illinois. As we continue expanding, we’re using the same data-driven approach to identify and enter high-growth markets, ensuring MARS Energy remains at the forefront of the C&I solar industry nationwide.
What internal philosophies or operational strategies do you believe are most important for building a successful company in the renewable energy industry?
From my experience, three key factors are essential for success: building the right team and systems, prioritizing cash management, and staying ahead of shifting incentives.
First, having the right people is critical, but so is having the right systems and processes. C&I solar involves multiple moving parts—utility coordination, permitting, customer collaboration, and land use challenges—all of which must align seamlessly. It’s not just about following a flowchart; success requires dynamic systems that can adapt to different project complexities while maintaining efficiency. Our structured, technology-driven approach has been one of our biggest advantages.
Next, cash management is everything. We’ve built a strong finance team, led by a CFO with deep experience in project-based construction finance. We emphasize financial discipline through detailed cash flow forecasting, GAAP compliance, and percentage-of-completion accounting. Regular audits help us maintain strong margins, and when issues arise, we investigate and refine our processes immediately.
Finally, staying ahead of incentives is a game-changer. Federal programs like the Inflation Reduction Act (IRA), state-level incentives, and utility programs are constantly evolving. Having a dedicated team tracking these changes and quickly integrating them into our proposals gives us a competitive edge. The difference between winning and losing a deal often comes down to understanding and leveraging incentives better than the competition.
Solar is a demanding industry, with the right team, structured systems, financial discipline, and a proactive approach to incentives, it’s possible to build a sustainable business. The opportunity ahead is massive, and we’re eager to keep pushing the boundaries of what’s possible in commercial and industrial solar.
Explore MARS Energy Group’s EPC services, corporate strategy, and partnership opportunities. Visit marsenergygroup.com to learn more.