It may be time for you to get charged by energy. From Beijing to Washington, D.C., this sector is considered to be one of the power sources that will drive the economic recovery. So far, the federal government has committed roughly $90 billion of the $787 billion stimulus package toward alternative energy, from electric car production to solar loan guarantees. According to a recent report from Pew Charitable Trusts, a nonprofit devoted to improving public policy, the global clean energy economy has grown 230% since 2005 despite the economic downturn. And with an ongoing focus on energy security, global warming, and job creation, worldwide investment this year has expanded 25%, to $200 billion.
With the emphasis on “clean†fuels–solar, wind, nuclear, geothermal heat, and biofuels –young, visionary professionals and entrepreneurs can take advantage of some electrifying opportunities. Combined global revenue for solar photovoltaics, wind power, and biofuels reached $144.5 billion in 2009, a 15.8% increase over the previous year, reports energy research firm Clean Edge. States such as New Jersey and California are leading the drive in making it attractive via tax credits for businesses and utility companies to generate such forms of clean energy. At the same time, there are opportunities for those who can advance production of traditional fuels such as oil, natural gas, and coal.
“There are a lot of opportunities both domestically and internationally for employment and professional growth,†says Frank M. Stewart, president and COO of the American Association of Blacks in Energy, a Washington, D.C.-based trade association. Not only engineers need apply, says Stewart. Those with backgrounds in public policy, law, sales, human resources, and business management are in demand as well. Stewart also believes energy efficiency–from home installation to designing the next line of electric cars–represents “the largest opportunity offering the greatest return for people of color in job creation and business development.â€
Black Enterprise has found this sector so
vital to our audience that our editors have developed two forums with high-powered executives, entrepreneurs, and policymakers. The most recent event was held on Nov. 8. (See the full coverage of the Black Enterprise Energy Forum on BlackEnterprise.com.) On the following pages, we share with you four emerging leaders who are making their ascent within the industry. Their experiences may offer guidance on how you can access the next big opportunity.(Continued on next page)
Julia McGinnis
Early in her career, Julia McGinnis discovered the power of water. At 25, she gained a position at the U.S. Department of Interior’s Bureau of Reclamation helping to oversee California’s Central Valley Project, one of the nation’s major water conservation developments. Within five years, McGinnis implemented changes in the CVP’s water accounting and operations system that saved more than $10 million for the bureau that manages the country’s water supply through dams, reservoirs, canals, and power plants. The experience demonstrated she could make an impact on people and the environment as well as the bottom line.
Today, McGinnis, 29, serves as chief of the bureau’s Enterprise Program Management Office, and is one of the Interior Department’s youngest managers. Her role has expanded to managing CVP’s water accounting system, including operations, storage, delivery, and financial oversight for its IT portfolio of $80 million. The multipurpose CVP is massive. Composed of 20 dams and reservoirs, 11 power plants, and 500 miles of canals, the 72-year-old federal project delivers water and produces electric power to thousands of farms, homes, and businesses in California’s Central Valley Basin as well as major urban communities in the San Francisco Bay Area.
McGinnis deals with issues such as drought, population growth, and climate change, and asserts “water shortage and management is a major issue on the West Coast.†She seeks to create greater efficiency in ensuring a clean supply of water is available while working within financial and environmental constraints.
McGinnis’ achievements have placed her at the table with some of the energy industry’s most powerful government officials and politicians. The University of Southern California graduate with a bachelor’s in political science and a master’s in public administration serves as the youngest member of the Bureau’s Chief Information Officer Council; she makes recommendations on incorporating new technology into the agency’s business practices, security procedures, and infrastructure. McGinnis, who has studied the career of her role model Colin Powell, says: “During the industrial age we were working against nature especially with the reliance on coal. Now we are trying to look at ways to work with nature. This is a great opportunity for creative and innovating individuals to find a niche and leverage that to create something significant for our communities.â€
(Continued on next page)
Ajilli Hardy
Ajilli Hardy is driven by changing the way the world uses energy. For more than two years, she has pursued this mission as an energy systems engineer for the Energy Systems Laboratory at General Electric’s Global Research Center in Niskayuna, New York. It’s the perfect job for the self-described analytical dreamer who creates models for large-scale water, oil, and gas systems. “I learn how complex energy systems work with the goal of envisioning how to make them better,†says Hardy.
It’s a fast-paced environment where she may work on five projects at a time with teams varying in number from five to 15. Her projects range from redesigning a U.S. geothermal power plant to recycling water for human consumption in the Middle East. Identified by be as one of our 40 emerging leaders of the future, the 32-year-old also spent a great deal of time improving natural gas consumption and greenhouse gas emission by processing Canadian oil sands. As a result, Hardy and her team have been making oil extraction from the earth more eco-friendly.
She has access to resources that
will enable her to be one of the next major innovators in the field. GE global research has a $555 million research and development budget ($4.3 billion for GE total) with facilities in India, China, and Germany. Hardy, however, is one of a small community of African Americans engaged in such groundbreaking work. Of GE global research’s 1,800 engineers, roughly 25 are African American. And Hardy is the only African American female engineer in the entire group.She’s used to blazing new trails. Hardy attended MIT at the age of 17. Twelve years later, she became the first African American female to earn a bachelor’s, master’s, and doctoral degree in mechanical engineering there. It was at MIT that Hardy took advantage of a variety of career opportunities, including highly coveted internships at Sandia National Laboratories and the Budker Institute of Nuclear Physics in Novosibirsk, Russia. She also interned at Procter & Gamble, Boeing, as well as a few years in the automotive industry working on fuel emission efficiency–three at Ford Motor Co. and one at BMW in Munich–prior to her current position.
“This is an industry where there is a lot of room for impact,†says the Philadelphia native. “What we have witnessed in the past couple of years is that the people who can find their way to relevancy even in the most difficult and challenging economic climates are the most stable. One of the benefits of pursuing a career in the energy field is that you will always be relevant.â€
(Continued on next page)
Gilbert G. Campbell III and Simon Antonio Francis
Gilbert G. Campbell III and Simon Antonio Francis are seeking entrepreneurial success by harnessing the power of the elements. Volt Energy, the green power company they launched in 2009, installs solar photovoltaics, solar thermal, and wind systems for governments, businesses, school systems, nonprofits, and utilities in North Carolina, Pennsylvania, and New Jersey.
Earlier this year,
the Winston-Salem, North Carolina-based company completed its first commercial solar energy installation. Located in downtown Winston-Salem, the 10-kilowatt solar panel-powered system is part of a statewide initiative to encourage use of clean, alternative energy sources. The company’s rooftop system captures heat and converts it into electricity. Volt has turned that power into profit by selling it back to the utility Duke Energy for 8 cents per kilowatt-hour over a 15-year agreement, while their renewable energy certificates are sold for 15 cents per kilowatt-hour to North Carolina Green Power.So Campbell, 30, and Francis, 31, have found a way to generate revenues not only from selling solar power but trading energy as well. “We primarily do solar installation, providing turnkey solutions for commercial and government clients,†says Campbell. Volt generated solid profits in 2009 and is projected to top $1 million in revenues for 2010.
For emerging green power companies, the cost of entry can prove to be a huge barrier. The longtime friends and Howard University alums have been able to take advantage of federal and state tax credits and to gain resources through their network, including valuable contacts at North Carolina A&T State University’s Center for Energy Research and Technology and the American Council on Renewable Energy. A recent capital source came from a $300,000 grant Volt received from the Commonwealth of Pennsylvania’s Department of Labor and Industry to provide green job training.
Several projects are under way and in development, including designing a system that operates without an electrical grid to power laptops, cell phones, and other communication devices.
The duo’s other plans call for global expansion, particularly in South Africa where there is a huge demand for renewable energy. Says Francis: “There are 7 billion people in the world today and there are roughly 1.5 billion people without electricity.
This is one of the industries where there are no boundaries for minority business owners.â€