Innovative Solar Systems

About Innovative Solar Systems

Innovative Solar Systems, LLC (ISS) is a developer of utility-scale, ground-mounted solar photovoltaic (PV) projects, operating as an incubator for large-scale solar farms across the United States. Founded in 2011 in Asheville, North Carolina, by brothers John and Richard Green, the company established itself by developing significant solar capacity. One of the founders, John Green (1961-2024), held a Bachelor of Science in Electrical Engineering from the University of South Carolina and had an extensive career as a project engineer at companies like Kimberly-Clark and Augusta Newsprint before co-founding ISS. This engineering background has been central to the company's focus.

The company's business model centers on the early-stage development of solar projects. This involves identifying and securing suitable sites, conducting engineering and design, obtaining interconnection agreements from transmission providers, and negotiating power purchase agreements (PPAs) with off-takers. ISS then offers these de-risked, shovel-ready, or ready-to-build (RTB) projects for sale to long-term asset owners, investors, and other renewable energy stakeholders. The firm's revenue is generated through the sale of these developed projects and entire project portfolios. The client base primarily consists of large-scale investors and energy companies seeking to enter or expand their presence in the U.S. renewable energy sector, with investment opportunities ranging from $100 million to over $25 billion. By managing the complex initial development phases, ISS provides a streamlined entry point for capital into the construction and operational stages of solar energy generation.

The core service offered by ISS is a complete, in-house development package for utility-scale solar farms, typically ranging from 20MW to over 200MW. The company handles all critical development aspects, including site procurement, system engineering, financial modeling, and securing power off-take arrangements. Since its inception, ISS has developed and sold approximately 3 GW of solar projects. The firm maintains an active project pipeline, which has been stated to be between 5GW and 15GW at various times, located in numerous states, with a significant focus on the ERCOT market in Texas. In early 2022, the company announced it was offering a partial or full equity sale, presenting an opportunity for buyers to acquire its project pipeline, development team, and proprietary systems.