Mission Possible: Climate Tech with Deep Chakraborty, Enact

Welcome to ‘Mission Possible: Climate Tech’ with Xan Winterton, a Q&A focused on the Climate Technology Industry.

This Q&A Series will be led by our Managing Director & Head of Climate Tech, Xan Winterton. Xan will be speaking with the movers and shakers across the climate technology sector, the folks that are galvanizing change to make our planet greener, cleaner and dare I say it serener!

This week we have been in touch with Deep Chakraborty, CEO and Co-Founder of Enact.

Enact’s Software platform is transforming how solar and energy storage projects are designed, deployed and managed, with thousands of users in 20+ countries. Enact’s platform enables sales teams to design, price and sell remotely, finalize contracts and track project execution. End-customers can also leverage Enact’s platform to manage their solar and energy storage transition and track financial outcomes.

What led you into Climate Technology and specifically the solar industry? 

After beginning my career in the automotive industry for Chrysler in Michigan, I moved to a strategy consulting career working for Roland Berger. Based in Germany, much of my focus then was on electric vehicle (EV) transportation, charging, and battery storage startups. It was here in Europe, back in 2007, that I experienced first-hand the transformational impact of renewable energy with the booming solar sector in Germany and joined one of Europe’s largest solar companies then.

Several years later after moving back to the US, in 2015, we launched Enact. Our award-winning platform now allows customers, both homeowners and businesses, to simplify their entire solar and energy storage purchase, designed through Enact and delivered by local solar professionals. Enact also enables thousands of solar professionals to design, deliver projects, and manage assets for long-term performance.

What was the mission of Enact when you created it? And what is unique about your business VS competitors?

At Enact, our primary and enduring goal has been to simplify the customer journey from design to installation to ultimate cost savings. We launched Enact to simplify this customer experience and accelerate the clean energy revolution.  

While there are a few other platforms like Enact, that leverage satellite-imagery to develop remote designs of solar systems on roofs and buildings, Enact is the most complete, end-to-end platform. Not only does Enact develop detailed financial proposals in minutes, but also goes a step further: by actually measuring live outcomes after the installation.

Enact’s two-sided platform  is integrated to all major inverter OEMs in the world, so regardless of equipment choice, consumers can now measure their actual savings from grid power, adjusted for consumption and weather. So this helps improve trust in solar outcomes. There is no other such open-platform that allows such transparency to consumers!

What will be the biggest trend in Solar Technology space in 2024? What will be the biggest challenge?

In markets like California, the biggest trend is EV buyers adding solar to reduce their cost of EV charging. Over 1M new US consumers bought EVs in 2023 (highest ever) and as this grows, solar solutions to support EV Charging will be a national trend

Along the same lines, one of the biggest challenges ahead is to get the grid and local AHJs to approve EV Charging projects quickly enough at a commercial scale. Increasing grid congestion and inadequate urban substation infrastructure can cause delays in project permit and interconnection approvals.

What differences have you found expanding in the US vs European solar market? 

Enact is new in Europe and one of the differences we found is that each country’s market has its unique nuances, as we approach hiring for talent. While the same product works in all markets, we have started adapting for the local language as well. E.g. We have launched Enact in the German language now.

Tell us about your approach to talent acquisition and culture? Has it changed over the past few years? If so, how?

Enact has more than doubled in size in the last 15 months, with several new hires in the US market as well as international markets, across all functions. We have a strong HR team, and solid onboarding program to recruit and retain top talent, while partnering with talent search firms for specific role. 

We have very strong core values within the Enact team, and a people-first culture. Its taken us many years to develop this and grow the team that likes to work and play together. Even with international expansion, there is a unique bond amongst the Enact team members globally.

What’s been one of your biggest growth challenges and how are you handling it?

One of our biggest growth challenges specifically in the US market has been our slow expansion in the commercial/industrial space. This refers to specific C&I segments like hotels, warehouses, industrial / office buildings to adopt solar / storage onsite. 

Sales cycles have been slow and often projects take a long time to complete the execution phase. Having strong relationships helps shorten the sales project. So we are looking ahead to hiring specialized talent that comes out of an industry vertical segment to then help us target that segment more heavily by our Marketing team.

What is your guilty pleasure? Favorite song or music? 

Travel and music are both my hobbies. I have traveled to 25+ countries around the world and hope to continue this as many more are left on the list. I am an avid musician and play the Sitar, while listening to various genres – Jazz / classical music and various forms of folk music.