PowerMarket offers community solar solutions that connect utility customers to local solar projects, allowing them to benefit from clean energy without the need for solar panel installation. This service enables participants to receive credits on their electric bills, resulting in guaranteed savings while supporting renewable energy generation in their communities.
Funding
$100K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many utility customers lack access to renewable energy sources due to limitations such as unsuitable rooftops for solar panel installation, renting apartments, or financial constraints. Traditional solar energy solutions often require significant upfront investment and ongoing maintenance, creating barriers to entry for a large segment of the population.
Solution
PowerMarket provides a community solar platform that connects utility customers to local solar projects, enabling them to benefit from clean energy without installing panels. Customers subscribe to a portion of a solar farm in their utility region and receive credits on their existing electric bills based on the solar farm's energy production. This model guarantees savings on electricity costs while supporting local renewable energy generation and reducing carbon footprint. The platform handles enrollment, allocation of solar panels, and credit application, making clean energy accessible to homeowners, renters, businesses, and religious institutions.
Target Audience
PowerMarket targets homeowners, apartment renters, businesses, and religious institutions seeking to reduce their electricity costs and support renewable energy without the need for on-site solar panel installation.
Features
- Online marketplace to browse and select community solar projects in the customer's utility region
- Assignment of a share of solar panels based on the customer's average electricity usage
- Automatic application of solar credits to the customer's existing electric bill
- Savings guarantee on monthly electricity costs
- Monitoring of the project's environmental impact and individual savings
- Referral program for additional benefits