Please welcome Palmetto, a cost-effective energy solution doing a world of good
Meet Palmetto, the latest addition to Lerer Hippeau’s portfolio.
HQ: Charleston, South Carolina
Founder: Chris Kemper
The problem: Homeowners looking to trim their utility bills have few, if any, options and their monthly statements are on the rise. Utility rates continue to increase not because of commodity prices, but rather due to the growing price of transmission and the cost of maintaining expensive power plants. Add to that the impact of those emissions on the environment, and consumers find themselves in an energy crisis with tangible costs to their wallet and the planet.
Palmetto’s solution: Palmetto’s software streamlines fulfillment, installation, and communications to provide a better deal and improved customer service as homeowners choose clean energy technology solutions, such as solar power, that save money and don’t add emissions to the environment.
Origin story: Chris has spent his career focused on development and policy in the clean technology sector, driven by a mission to offer solutions to mitigate the monumental effects of climate change. Before founding Palmetto, he focused on clean energy at an institutional finance service firm in London and the United Nations.
Why we’re betting on it: The alternative energy market is highly fragmented and largely made up of local dealers who employ a handful of sales representatives. Palmetto’s core value proposition is its fulfillment software aimed to empower independent solar dealers and agents, handling the entire sales, design, financing and installation process end-to-end. Homeowners looking for alternative energy solutions (solar power, storage, IoT products) can connect with the providers and products they need on Palmetto, from fulfillment and financing to installation and everything in-between.
Our take: The size of the “advanced” energy market in the U.S. is enormous, well exceeding $200 billion in one recent report, and the global market is valued at nearly $2 trillion. Innovative, clean energy solutions are becoming more available to consumers, and are especially appealing to those who want to lower their utility bills and care about the consequences of global warming. Palmetto offers a smart solution for these homeowners by connecting them with the energy goods and services they need to power their homes without additional harm to the environment.
Further reading: “Wallet Hub: High electricity costs drive Palmetto state into top 20 for power expenses” via The Post and Courier
