Year after year, Pivot Energy strives to do better and be better as a company. As 2022 comes to a close and the planning begins for an even more impactful year ahead, let’s take a look at some of our accomplishments from the last 12 months.
Already a long-standing Certified B Corporation (B Corp), Pivot Energy doubled down on its commitment to benefit the public by legally registering this May as a Benefit Corporation in Delaware. With this new legal status, we are protecting our mission and ensuring that Pivot will be held accountable to all stakeholders both today and in the future, leaving a measurable positive impact on individuals, communities, and the future well-being of the earth.
Through discussion, Pivot learned about the needs of the communities in which we operate and decided to deepen its ongoing community partnerships and make new community reinvestments. As a result, we made multiple donations to Energy Outreach Colorado that will aid households facing severe energy poverty. Additionally, Pivot elected to support the sustainability goals of Mile High Ministries by investing $100,000 towards the development of a 50 kilowatt (kW) onsite solar array and providing a 196 kW community solar subscription to the nonprofit organization’s new affordable housing complex, Clara Brown Commons.
Pivot made several financial contributions to support educational and career development opportunities. Renewing our support for the Pueblo Hispanic Education Foundation (PHEF) supported another cohort of students through the Renewable Energy Scholarship Fund. Committing to investing $70,000 in the Community College of Aurora helped them launch a renewables career program. Pivot also partnered with Solar Energy International (SEI), helping the educational nonprofit to expand the reach of its widely respected renewable energy training courses to more students, and introduce wrap-around services that will place students directly into careers with renewable energy companies.
With grit, Pivot overcame supply chain challenges and a tight labor market to continue executing on our project pipeline. Additionally, our company closed a $190 million financing facility to support a multi-state 90 MW portfolio of distributed generation solar projects. This is the first portfolio of projects that we will build, own, and operate since our strategic acquisition by ECP in June 2021, which enables us to have even more flexibility in making ESG-related business decisions.
This year, Pivot acquired SGC Power, a Maryland-based community solar developer. 100% of the employees from SGC were retained as part of the acquisition. Together, we have proven that this partnership will drive substantial growth over the years to come. Our company more than doubled in size while maintaining a strong culture and a nurturing environment for all employees.
The Denver Business Journal named us as a 2022 Best Place to Work finalist, and internal surveys revealed that an overwhelming 99% of our employees are proud to work at Pivot. We’re proud to say that Pivot employees genuinely care about our corporate mission — click to listen to what our employees have to say — logging a total of 575.5 employee volunteer hours in 2022, far exceeding the initial goal of 300 hours. Nearly 95% of the company has participated in an ESG activity, and our goal is to have that percentage increase to 100% by the end of the year.
With all that we’ve accomplished this past year, Pivot is more excited and optimistic than ever about what lies ahead for not just us, but the renewables industry as a whole. The passage of the Inflation Reduction Act has more than rekindled our sense of optimism, and we look forward to inspiring enthusiastic and impactful change in communities, municipalities, and businesses across the nation.
If you’ve made it this far and want to work with Pivot Energy in 2023, contact us, and we’ll figure out how to serve you best!
Together, solar and storage offer the unique ability to lower both demand and energy portions of a customer’s electricity bill.