Business Advice from an Entrepreneur in the Solar Energy Industry

“Have your five second spiel about what your company is all about and what you can provide and be comfortable presenting that to anyone.” - Michael Yearwood, Owner of Blue Green Solar Ltd.

Michael Yearwood’s company was born following his own personal building project. As he was building his own house, he wanted to keep his costs low. He purchased a small solar system to run all of his power tools, but it was clear there was potential for more.

“I could use this to heat hot water and run a fridge, and then it just sort of expanded. So, I incorporated it into the design of my home, and now I run everything.” By everything, he means all of his appliances, three freezers, two buildings, a wood boiler that runs all winter, pumps for in-floor heating, chain saws – everything. His passion for solar energy turned into a lot of hands-on experience, trying out different inverters and different solar configurations and battery management systems, putting it all together to understand what works best for the climate in northern BC. After seeing how well living off solar energy was working for him, he decided to launch Blue Green Solar part-time in 2017, before moving to full-time in 2021. His work in designing and installing off grid and grid interactive solar systems is something he enjoys doing.

“When I wake up in the morning, I look forward to building a system and putting a smile on people's faces,” Michael says.

To say Canada’s solar energy industry is growing is an understatement. Year over year, the country’s solar energy capacity grew by 13.6% in 2021, with western Canadian provinces leading the way in solar power growth in 2022. As the cost of living continues to rise, electric vehicles, off-grid living and solar power in general continue to be an attractive option for Canadians looking to lower their costs and their carbon footprint. More than just a trend, labor market predictions from Statistics Canada are forecasting a shortage of solar panel installers between now and 2031, underscoring the growing demand in the industry. Across seven provinces and two territories, solar power was feeding the electricity grid in 2022. It’s no wonder Michael’s company has been in demand, with more expressing interest, he says. His advice to other entrepreneurs starts with being firmly grounded in your product knowledge and in sound business practices.

“Be as honest as possible. If you don't know the answer to something, tell your client that you don't know the answer, but you're going to find the answer,” he says. “Don’t cheap out. Pay your taxes. Pay yourself. Keep your credit low. Try not to borrow, and get a really good accountant. That's critical.” He recently gave a presentation at University of Northern BC (UNBC), an event organized by the Black Entrepreneurship Knowledge Hub, where he was able to share his experience. He’s also a big believer in networking.

“I think it's also important to integrate in the community. Just put your best foot out there,” he says. “Don't hold back because of our race. Just get out there and interact with people in the community and get those business cards out there and hand them out and sell yourself. Have your five second spiel about what your company is all about and what you can provide and be comfortable presenting that to anyone.”

With some major projects under his belt, and others potentially in the works, Michael is optimistic about the future of his company. His primary form of marketing is word of mouth, having expanded the business without relying on social media. His advice around fiscal responsibility – specifically, paying yourself first – is one he reiterates for up-and-coming entrepreneurs.

“It's critical – critical – in small business to pay yourself first and tuck away a good slush fund to tap into in case, say, COVID comes along or something similar to that, so that you can carry yourself through,” he says. “I can't emphasize that enough.”