The startup develops and operates microgrid systems that integrate power generation and storage technologies to deliver reliable, renewable energy solutions for commercial and industrial clients. Their systems mitigate the impact of power outages while providing cost-effective energy alternatives, enhancing operational resilience and sustainability.
Funding
$55M 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
Commercial and industrial clients face rising energy costs, grid instability, and the need to reduce their carbon footprint. Traditional energy sources can be unreliable, and the upfront capital investment for renewable energy infrastructure can be a barrier. Businesses also seek ways to monetize existing solar assets while upgrading to more resilient and sustainable energy solutions.
Solution
SolMicroGrid develops and operates solar-enabled microgrid systems, providing Energy as a Service (EaaS) to commercial and industrial customers. The company offers scalable and customizable energy solutions that enhance resiliency, reduce operating expenses, and lower carbon emissions without requiring customer capital investment. SolMicroGrid's microgrids integrate on-site solar power generation, battery storage, and intelligent energy management systems to optimize energy utilization and provide a cost-effective alternative to traditional grid power. The company also offers an "Array-to-Microgrid" program, enabling businesses to sell their existing solar arrays for immediate cash while upgrading to a fully managed microgrid.
Target Audience
SolMicroGrid targets commercial and industrial businesses, particularly retail chain operators with standardized, owned, free-standing facilities, seeking cost-effective, sustainable, and resilient power solutions. Ideal customers have peak monthly demand ranging from 80 kW to 800 kW or annual kWh consumption between 250,000 kWh to 2,500,000 kWh and an average blended utility rate of more than 20 cents per kWh.
Features
- Energy as a Service (EaaS) model: Customers pay only for the energy they use.
- Integration of distributed energy resources (DER) such as PV solar modules, generators, and battery energy storage systems (BESSs).
- AI-powered microgrid controllers optimize electricity use, especially during peak demand.
- "Array-to-Microgrid" program: Businesses can sell existing solar arrays and upgrade to a fully managed microgrid.
- Customizable microgrid components: grid power, battery storage, microgrid control, generator, EV charging stations, inverter, rooftop solar, ground-mount solar, and solar parking canopy.
- Intelligent Energy Management System optimizes the performance of DER components and controls the cycling of the energy storage system.
- Remote monitoring and control capabilities for proactive maintenance and performance optimization.
- Options for customers to sell excess energy back to the grid or provide services such as frequency regulation and demand response.