By Staff Report Wednesday, August 24th, 2016

Matt Walz

Former Duke Energy executive Matt Walz replaced Al Bucknam as CEO of San Luis Obispo-based REC Solar, the company announced Aug. 24.

Walz previously served as the vice president of marketing and later as the vice president of commercial solar for Duke Energy in the Cincinnati area. He replaces Bucknam, who joined REC Solar in October 2014.

In 2015, Charlotte, N.C.-based Duke Energy bought a majority stake in REC Solar, which makes commercial scale solar systems for businesses around the world. Duke Energy also pledged to invest $225 million into future REC Solar projects.

An REC Solar spokeswoman told the Business Times the move is part of a joint strategy to expand further into the small-to-midsized commercial solar market.

• Contact Philip Joens at [email protected].