Dan Shugar | |
|---|---|
 | |
| Education | Rensselaer Polytechnic Institute (BSc) Golden Gate University (MBA) |
| Occupation(s) | Renewable energy entrepreneur, business executive |
| Years active | 1987–present |
| Title | Co-founder and CEO of Nextracker |
| Website | nextracker |
Dan Shugar is an American business executive and renewable energy pioneer. He is the co-founder and CEO of Nextracker. [1] [2] [3]
Shugar grew up in New Jersey. He graduated from Rensselaer Polytechnic Institute with a Bachelor of Science degree in electrical engineering. He later received an MBA from Golden Gate University. [3] [4]
Shugar began his career in the late 1980s in the research and development department at Pacific Gas and Electric Company. [2] [3] [5]
In 1996, Shugar joined Tom Dinwoodie, who invented a lightweight solar roof system, as co-founder of PowerLight Corporation [3] [6] [7]
Shugar and Dinwoodie worked together on existing intellectual property to commercialize single-axis solar trackers and received certification for their use in the U.S. and Europe. [1] [8] [9] Other innovations included a "solar inverter in a container" for it's use at solar power plants, an integrated residential solar roof system and carport solutions. [1] [8] [9]
In 2007, SunPower Corp. purchased PowerLight for $332 million. [6] [10] Shugar was later named president of SunPower. [6] [11] [12] Under Shugar's leadership, PowerLight and SunPower grew from less than $1 million to $830 million in annual revenues, with Shugar overseeing the completion of more than 500 commercial, industrial, and utility solar projects worldwide. [6] [11] [12]
In 2010, Shugar became CEO of a solar panel startup named Solaria. [10] [11]
In 2013, Shugar co-founded Nextracker while working at Solaria to develop a new generation of solar-tracking systems for utility-scale solar power plants. [3] [13] The following year, Nextracker was spun off from Solaria after which Shugar became the CEO of Nextracker. [8] [13]
In 2016, Shugar orchestrated Nextracker’s acquisition of BrightBox Technologies, Inc., which develops predictive modeling software and machine-learning technologies. [14] [15]
After Covid, Shugar led efforts to reshore solar tracker manufacturing to the U.S. following disruption of global supply chains. [16] [17] In December 2024, Nextracker shipped the first U.S.-manufactured solar trackers with 100% domestic content. [18] [19] [20]
Under Shugar, Nextracker made its debut on the Nasdaq Global Select Market in 2023. [21] [22] As of March 31, 2024, Nextracker had shipped solar tracking systems for more than 100 gigawatts (GW) of capacity to 40 countries across six continents. [23] [24]