Residential solar The industry has been a victim of its own success.
People across the country have raced to install solar panels to take advantage of generous net metering rates, where utilities pay people a premium for their energy. Meanwhile, large energy producers have found themselves forced to shut down operations at peak (and profitable) times.
In California, the problem was particularly evident. As solar power began to go mainstream, the state’s grid operator began to notice that as more people plugged in solar panels, the load on the grid would drop in the middle of the day. Over the past fifteen years, this decline has deepened. Since the nets work best when the load on them is smooth, organizers are starting to think about how to pull them back.
So, a little more than a year ago, the California Public Utilities Commission changed the amount utilities had to pay for power from new facilities to single-family homeowners. Last month, it did the same for multifamily and commercial buildings. For existing solar panels, the new rates will be phased in over 20 years. However, there was a silver lining: an incentive for home or building owners to install batteries alongside solar panels. This way they can benefit from producing panels at night as well.
For new solar installations, adding a battery isn’t easy, but it’s not complicated either. But for people who already have solar panels, adding a battery is more challenging due to economic feasibility. Solar companies install the bulk of residential and small commercial batteries, but battery installation without solar isn’t large enough to interest them.
And it’s how Haven Energy The beginning: The company’s two founders, both Casper graduates, had tried for years to install batteries for their homes. When they couldn’t, they set out to solve the problem through entrepreneurship.
In auspicious timing, Haven Energy launched in April 2023 as California’s new rules for single-family homes went into effect. The startup has raised a $4.2 million seed round to build a B2B2C platform that connects homeowners with contractors with a battery for their existing solar setups.
Now, nine months later, the company is back with more news: a $7 million Series A and a new focus on building a platform for installers, TechCrunch+ has learned exclusively. Lerer Hippeau, Giant Ventures, and Raven One Ventures are back, joined by Comcast Ventures, LifeX, TO VC, and Habitat Partners.