Building from scratch: Why renewables business leader Alex Kaplan chose Hanwha

Q. It’s a pleasure to meet you. I understand that you and your family live in San Francisco. What do you do for fun?

I enjoy swimming in the ocean, eating barbecue — both American and Korean style — and watching the Golden State Warriors basketball team.

Q. I know you joined Hanwha Qcells in 2021 and that you’ve worked in the renewables and energy infrastructure sector for almost 15 years. Can you tell us a bit more about your path to Hanwha? 

Prior to Hanwha, I worked at several other companies in the solar energy sector, including Mosaic, a top-three financier of residential solar projects in the United States; SolarCity, which Tesla acquired in 2016; and SunFi, a startup that I co-founded. I began my career in financial services, doing advisory work for large-scale public infrastructure bond transactions. 

Q. What led you to pursue a career in the renewable energy sector?

I got into this sector because I believe we are entering a new era of change and investment in global energy infrastructure, with an emphasis on clean energy.

Q. Tell us about your decision to move to Hanwha in 2021. 

I chose to move to Hanwha Qcells because I believe in the company’s vision to expand beyond manufacturing to become a full-scale energy services provider, as well as its commitment to invest in manufacturing in the United States. I was also impressed by the grit, determination, and strong execution that the business had shown in its path to U.S. market-share leadership for residential, commercial, and industrial photovoltaic panels. 

I joined the company to build and lead a new residential financing business line, and I was excited to accept the challenge. It’s been an exciting journey for me. I’m now responsible for managing all aspects of the EnFin business, including overall profit and loss, growth strategy and financial product pricing, market offering, risk management and compliance, technology development, operations, and capital markets.  

“I got into this sector because I believe we are entering a new era of change and investment in global energy infrastructure, with an emphasis on clean energy.”

Q. What exactly is EnFin, and what is its mission?

EnFin, launched in January 2023, is the in-house consumer financing business within Hanwha Qcells. Our mission is to provide competitive, technology-enabled financial products to residential customers who want to install Qcells equipment in their homes. In doing so, EnFin can help expand the market for Qcells equipment as well as create a profitable, sustainable fintech business.

Since our launch, we have established 200 sales networks across the United States. In our first year alone, we won 10,000 contracts worth about $500 million. We constantly strive to create a seamless experience for our partners and borrowers.

“Two and a half years ago, all we had was a vision and a whiteboard. Now, with the support of the broader Hanwha Qcells organization, EnFin is becoming a major market player in the residential solar financing sector.”

Q. What’s the best thing about being one of Hanwha’s leaders?

The most meaningful and rewarding aspect of being a leader at Hanwha has been the opportunity to build a high-quality team and watch its members thrive. I work with a large number of bright, talented, and hardworking people. I have also learned a lot about myself in the process of building and scaling a new business from scratch, and I have tried to use the experience to become a better leader and colleague.

Q. What’s your proudest accomplishment, and why?

Without a doubt, it’s building the EnFin business within Hanwha Qcells. Two and a half years ago, all we had was a vision and a whiteboard. Now, with the support of the broader Hanwha Qcells organization, EnFin is becoming a major market player in the residential solar financing sector. 

Q. How has Hanwha helped you grow in your career? What’s the next step? 

Working at Hanwha has helped me develop into a clearer communicator, which has enabled me to define and explain the strategic goals, differentiators, and KPIs for the EnFin business to my team as well as key stakeholders in the U.S. and globally. 

Hanwha is a dynamic company that is unafraid of change and growth. I hope to continue to grow the EnFin financing platform and support the broader growth and expansion of Hanwha Qcells’ global energy services platform offering.

About Alex Kaplan

A business leader in the renewables and energy infrastructure sector for almost 15 years, Alex Kaplan has been instrumental in building and scaling the EnFin division within Hanwha Qcells. Before he joined the team in 2021, he was vice president and head of capital markets at Mosaic, and before that he was associate director of structured finance and strategy at SolarCity. His experience in the solar and consumer finance industries, and in energy and transportation infrastructure finance earlier in his career, have served him well in his current role. At EnFin, he aims to empower installers and homeowners to finance solar energy systems and other home energy improvements by creating an accessible platform.

Keep up with Alex on LinkedIn.