Today, the Elemental Excelerator announced it's 2017 cohort - a group of cleantech companies working to create the new energy economy. As an Elemental Excelerator portfolio company, Sighten will expand its solar software platform to support energy efficiency and energy storage projects. Read more about the the Elemental Excelerator mission and Sighten's selection here.
Sighten's Elemental Excelerator project entails developing a SOLAR+ software tool that supports the design, sale, and financing of combined solar + efficiency and/or storage projects. The pilot will focus on Hawaii but will be open to all companies interested in growing their SOLAR+ sales through better technology.
Why Hawaii? Hawaii experienced a massive solar boom fueled by the highest utility rates in the US. When Hawaii's net metering policy changed in 2015, solar economics deteriorated significantly and installations slowed to a trickle. This past October, rate policy shifted further to "Customer Self-Supply (CSS)" - a program that requires homeowners to store excess power instead of pushing it back onto the grid. In order to continue to grow, solar installers now need to market combined solar + efficiency/storage projects, which result in favorable homeowner economics under the new rate structure. This policy situation and related installer need makes Hawaii the perfect testbed for Sighten's SOLAR+ software platform.
Why Elemental Excelerator? Elemental Excelerator brings their portfolio companies together under the mission of accelerating a renewable energy future. Hawaii is the first and only state with a 100% renewable energy mandate, so the Elemental Excelerator team focuses on funding the companies and technologies that will help the state reach its aggressive target. Elemental Excelerator connects portfolio companies to a strong local network of partners and potential customers.
Why Sighten? Elemental Excelerator selected Sighten from over 300 companies because they recognize the potential for Sighten's software to dramatically accelerate the deployment of clean energy products. They loved our team, our software, and our vision to provide cutting-edge tools to new energy companies.