Solar pioneer Ralph Jacobson recently pitched commercial real estate folks at a briefing-and-beer event that cost about $4,000 at Minneapolis' Surly Brewery.
That's close to the $5,000 per year Jacobs paid himself annually for the first decade after launching Innovative Power Systems in 1991.
"We've done it four times, and it's more than paid for itself," said Jacobson of the Surly events. "Commercial real estate folks tell us that owners see solar as a way to increase income" from their building roofs or a few acres of idle property.
Jacobson, a materials scientist out of the University of Minnesota, used to supplement his modest income from his solar venture by working at food co-ops and orchards, building projects, performing energy audits and whatever else was needed to keep the business afloat.
"I'm also grateful for my wife's [nursing] salary," quipped Jacobson, a St. Paul native and the first president of the state solar industry association a decade ago.
Times have changed in the rising Minnesota solar trade.
Jacobson is majority owner of what's now called IPS Solar of Roseville, which has grown from seven employees in 2013 to 45 full-time employees and contractors. IPS posted record revenue of $32 million last year, thanks partly to a 2013 state law that has ignited decentralized solar power projects.
Jacobson, 65, has raised his pay to $150,000 — still less than his top salespeople — which is plenty for a man who lives simply and drives a plug-in hybrid Toyota Prius.