Carolina Solar Energy

What Carolina Solar Energy does

Carolina Solar Energy is a privately held, family-owned solar developer (legal entity Carolina Solar Energy III, LLC) founded in 2004 by Richard Harkrader and headquartered in Durham, NC. The company develops utility-scale photovoltaic (PV) solar projects across the Southeastern and Gulf South United States — primarily North Carolina, Virginia, Kentucky, and Louisiana — using crystalline silicon module technology on projects ranging from demonstration installations (e.g., 75.6 kW at NC State in 2007) to large utility-scale facilities (50–91 MW). Its core operating model is site origination, permitting, and development through interconnection, followed by sale of shovel-ready or operational projects to institutional operators such as Cypress Creek Renewables and Silicon Ranch, supplemented by 10-year power purchase agreements (PPAs) with utilities and cooperatives for projects it retains, and 40-year land leases with rural landowners.

The firm operates with a small core team (1–10 employees) that combines solar development, policy advocacy, and real-estate expertise: CEO Carson Harkrader (former GE Energy, MBA NYU), Business Development Director Vann Joines (Tulane Sustainable Real Estate), Outreach Director Benny Finch, Solar Developer Tyler Caron, and founder Richard Harkrader. Customer segments are landowners (long-tail lease counterparties), municipalities (City of Raleigh, Person County), and utilities (Duke Energy Progress, Dominion Power, electric cooperatives). The company monetizes through one-time project sale/license revenue at handoff to operators, recurring PPA/REC income on retained assets, and licensing/royalty-style income from long-dated land leases; there is no public pricing or disclosed financials.

Strategically, CSE is a Southeast pioneer (first utility-scale solar project in the region, 2007; first Kentucky state-level permit filer, 2020), with active policy advocacy via leadership roles in NCSEA, CCEBA, SEIA, KYSEIA, MAREC, and NCCEBA. The pipeline totals over 950 MWdc across 51 operating projects, 3 under construction, and 3 in active development. The firm has remained independent and family-owned, with no institutional capital or parent-company relationships disclosed.

Name

Carolina Solar Energy

Legal name

Carolina Solar Energy III, LLC

Website

https://carolinasolarenergy.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

Carolina Solar Energy is a family-owned utility-scale solar developer founded in 2004 and headquartered in Durham, NC, developing PV projects in NC, VA, KY, and LA. It originates sites via 40-year landowner leases, manages permitting, and sells shovel-ready projects to operators under PPAs with utilities.

Ownership category

akta.pro rank

Product category

Utility-Scale Solar Project Development

NAICS

Solar Electric Power Generation (221114)

SIC

Electric Services (4911)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industry

Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ)

Keywords

• Utility scale solar development
• Solar project development
• Photovoltaic energy projects
• Renewable energy development
• Solar land leasing

Headquarters

HQ city

Durham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Others

Revenue model

1. Solar Project Development and Sales: Develops utility-scale solar projects from land acquisition through permitting and construction. Projects are then sold to operators like Cypress Creek Renewables, Silicon Ranch, and others. The company has sold projects including Turkey Creek to Silicon Ranch.
2. Land Lease Arrangements: Enters into 40-year leases with landowners, generating recurring income for landowners and establishing long-term land control for solar projects.
3. Power Purchase Agreement (PPA) Revenue: Awards 10-year PPAs with utilities to sell energy, capacity, and renewable energy certificates (RECs). Example: 240 kWdc Timberlake project with Piedmont Electric Membership Cooperative.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Carolina Solar Energy develops utility-scale photovoltaic (PV) solar energy projects across the Southeastern US, including site selection, land qualification through 40-year leases, state-level permitting, construction management, and long-term operations. The company has developed over 950 MWdc of solar projects across North Carolina, Virginia, Kentucky, and Louisiana, with 51 projects in operation. Projects are typically sold to operators or backed by 10-year Power Purchase Agreements (PPAs) with utilities.

Product overview

Carolina Solar Energy offers a unified utility-scale solar development service. The company's core offering is developing, constructing, and operating solar projects throughout the Southeast and Gulf South regions. Their portfolio spans over 51 completed projects ranging from small demonstration installations (75.6 kW) to large utility-scale facilities (85+ MW), including projects like Turkey Creek (50 MW ac), Bullock (70 MW dc), Hawtree Creek (85 MW dc), and various projects in development such as Horseshoe Bend (60 MW ac). The company serves landowners, municipalities, and utilities through long-term 40-year lease arrangements and power purchase agreements.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-Scale Solar Project Development End-to-end utility-scale photovoltaic (PV) solar energy project development service for landowners, municipalities, communities, and utilities across NC, VA, KY, and LA. Includes site qualification using GIS and survey tools, 40-year land lease origination, state-level permitting, interconnection applications, construction management via subcontractors, and long-term project ownership or sale to operators. Portfolio exceeds 950 MWdc across 51 operating projects ranging from 75.6 kW demonstrations to 85+ MW facilities.

Quantifiable outcome

• Over 950 MWdc of solar projects operating or under construction
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eleven partnerships are on record, tiered core and minor.

• TROSA (Triangle Residential Options for Substance Abusers)coreStrategic or Co-development PartnerPartnership with TROSA provided labor for three early solar projects. TROSA is an innovative multi-year residential program for people with substance use disorders. Projects helped provide vocational training in their comprehensive program. TROSA also subcontracted on Person County Solar Park One construction.
• SEIA (Solar Energy Industries Association)minorOthersMembership in national solar industry trade association for policy advocacy and industry networking.
• NCSEA (NC Sustainable Energy Association)coreOthersActive membership and leadership. Founder Richard Harkrader served three terms as Chair. The organization advocates for sustainable energy policy in North Carolina.
• CCEBA (Carolinas Clean Energy Business Association)coreOthersCEO Carson Harkrader serves as Vice Chair and then Chair of this business association. Company actively participates in policy advocacy through this organization.
• KYSEIA (Kentucky Solar Energy Industries Association)coreOthersMembership supporting expansion into Kentucky market. Company was first solar company to apply for Kentucky state-level permits in March 2020.
• MAREC (Mid-Atlantic Renewable Energy Coalition)minorOthersRegional membership organization supporting renewable energy policy and development in the Mid-Atlantic region.
• NCCEBA (NC Clean Energy Business Alliance)minorOthersRegional business alliance for clean energy advocacy and development in North Carolina.
• Grifton (Town of)minorGTM or Marketing PartnerCompany donated to Grifton, NC after permitting of Buckleberry project. Donation unlocked a matching grant to create a nature walk on donated land. Local environmental organizations planting native trees.
• Southside Roller Mill (Chase City, VA)minorGTM or Marketing PartnerGrant to improve historical Southside Roller Mill structure in Chase City, VA after permitting of Bluestone project. Donation helped replace roof of flour and cornmeal mill built in 1912.
• King Brothers Electric CompanycoreImplementation/ SI/ Consulting PartnerSubcontractor on multiple solar projects including Person County Solar Park construction. Key installation partner for EPC work.
• Willie Bishop ConstructioncoreImplementation/ SI/ Consulting PartnerSubcontractor on Person County Solar Park One project construction alongside King Brothers Electric Company and TROSA.

Scale indicators5 records

Recent moves6 records

Expansion highlights2 records

Broad incumbents

• EDF Renewables: Large global renewable energy developer with significant utility-scale solar operations across the US. Competes with CSE in Southeast markets as a well-capitalized incumbent with broader geographic and technology scope.

Direct peers

• Silicon Ranch: Utility-scale solar developer and owner-operator active in the Southeast that acquires projects from developers like CSE (e.g., Turkey Creek sale) and competes for new utility-scale projects in similar geographies.
• Strata Solar: NC-based utility-scale solar developer with strong Southeast regional presence and similar project development model. Strata Solar directly competes with CSE for land, interconnection, and project sale opportunities in overlapping geographies.
• Cypress Creek Renewables: Large utility-scale solar developer that both acquires projects from developers like CSE and competes for new development opportunities in the Southeast and across the US.
• Pine Gate Renewables: Utility-scale solar developer with significant Southeast presence that develops, owns, and operates projects. Competes with CSE for land and project development opportunities across overlapping states.
• Swinerton Renewable Energy: Utility-scale solar EPC contractor and developer with national footprint including Southeast projects. Competes with CSE in utility-scale development and construction activities in overlapping geographies.
• DEPCOM Power: Utility-scale solar EPC contractor with operations across multiple US regions including Southeast. Competes with CSE for project development and serves similar utility off-takers.
• Origis Energy: Utility-scale solar developer with operations across the US including Southeast states. Competes with CSE for utility-scale project development and serves similar utility and corporate off-taker customers.
• SOLV Energy: Utility-scale solar EPC and developer with significant Southeast operations. Competes with CSE for both project development opportunities and serves overlapping utility customers in NC, VA, and surrounding states.

Regional players

• Renu Energy Solutions: NC-based solar installer and developer primarily focused on commercial and utility-scale projects. Competes with CSE in the Carolinas for utility-scale solar development opportunities and community solar projects.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carolina Solar Energy