S2G Ventures, a direct investment team from Builders Vision, has invested $16.5 million in Common Energy, a community-based solar provider. The new round of capital will be used to expand consumer access to local, community solar projects across the country, scale Common Energy’s energy management platform, and grow the company’s management and operating teams.
“Renewable energy is the foundation for solving global climate change because abundant clean electricity enables all other decarbonization solutions,” says Richard Keiser, CEO and founder of Common Energy. “This investment will enable Common Energy to accelerate our efforts to bring clean energy to more households and communities across the country, and to further reduce greenhouse gas emissions.”
For project owners, Common Energy’s platform is a cloud-based SAAS that enables them to manage and monetize complex, multi-tenant distributed generation projects. Common Energy’s software platform provides financial and collections visibility.
“Community solar is an important option for broadening access to clean and cost-effective renewable energy across the US, and we are excited to be supporting the Common Energy team as they deploy their sophisticated platform to accelerate adoption of this resource,” states Dr. Francis O’Sullivan, managing director of S2G Ventures.
“Community solar plays a valuable part in the United States’ national energy strategy because it advances clean energy deployment in a way that allows many households to promote solar energy while reducing energy costs,” comments Dr. Ernest Moniz, the U.S. Secretary of Energy under President Obama and a Common Energy advisor.