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Company Was The First to Offer Alternative Energy in Texas and NY City, Says Founder Sam Wyly
Green Mountain Energy, now owned by NRG Energy, was a trailblazer, says Founder Sam Wyly. Entrepreneur Wyly founded the company in Vermont in 1997, then moved its headquarters to Austin, Texas, a few years later. In 2002, the company began offering alternative energy in the state.
The company also started the Green Mountain Energy Sun Club, which invests in sustainability projects sponsored by nonprofits. To date, the Sun Club has invested more than $13 million in more than 55 projects.
New York City
In 2009, Green Mountain Energy entered the alternative energy market in New York City. The 100 percent clean electricity company became the city’s first committed to clean energy. In 2011, it signed a two-year agreement to provide 100 percent clean energy to the Empire State Building. That agreement represented the city’s most significant alternative energy purchase at the time, says Wyly.
Renewable Rewards
The company also started an innovative renewable rewards program in 2009. The program gives customers credit on their bills for any excess renewable energy their solar program produces.
Sale to NRG
In late 2010, Wyly and other owners sold Green Mountain to NRG, an energy company serving 6 million companies in 24 states. The sales price was $350 million.
Green Mountain continues to be a trailblazer even as it has become an NRG brand, Wyly says. For example, in 2013, it launched the SolarSPARC program. Under the program, the company sets aside money on behalf of each program member to fund solar energy projects. The program also provides customers with an annual rebate on their bills. The company also partnered with the NFL in 2012 to power the Superbowl with renewable energy.
Under the NRG umbrella, Green Mountain has expanded into other states, including Maryland, Massachusetts, New Jersey, Illinois, and Pennsylvania. It has more than 500,000 customers and is the longest-operating renewable energy retailer.
