Dive Brief:
- SunPower, one of the leading U.S. solar module manufacturers and installers, has announced $20 million in investments in energy management software designer Tendril, Greentech Media reports. SunPower will be licensed to integrate solar array data into Tendril’s energy services platform to offer its customers new energy management services.
- The new offerings, allowing solar owners the opportunity to balance their array’s solar output and energy use, will be added to existing SunPower customers’ online portals. Customers will have the option of using appliances when their arrays are producing the most electricity, an option Tendril expects to soon automate.
- Though the system could make users energy independent, Tendril instead foresees exchanging data with utilities to allow the best uses of solar by the grid and the best uses of grid electricity by customers.
Dive Insight:
SolarCity, Enphase Energy and Vivint Solar have comparable home energy management offerings. Like SunPower and Tendril, they foresee commercial tie-ins, called upselling, through which products like high efficiency appliances and services like energy storage could be offered. For new customers, the Tendril system will perform building energy use audits and design bundled products and services.
A recent Navigant Research report found that the interface between electric vehicles, solar, home energy management and grid services would attract automotive original equipment manufacturers to the same markets. Global revenue from new services, Navigant projected, would grow from $426.6 million in 2014 to $5.3 billion in 2023.
A 2013 Navigant study found that home energy management products and services were only just beginning to get market traction. But, Navigant forecasted, consumers’ pursuit of more conservation and lower power bills, efficiency mandates, and wider use of more supportive rate designs would grow global revenues in home energy management from 2012’s $300.7 million to $1.8 billion in 2022.
