Predict your next investment

Swell Energy company logo
ENERGY & UTILITIES | Energy Storage
swellenergy.com

See what CB Insights has to offer

Stage

Series A | Alive

Total Raised

$13.64M

Last Raised

$13.64M | 2 yrs ago

About Swell Energy

Swell Energy is an energy storage provider and clean energy technology company. The company specializes in the marketing, sales, installation, and financing of smart home batteries. The company also has developed EnergyShield, an off-grid energy plan that starts at just $1 a day.

Swell Energy Headquarter Location

1515 7th Street Suite 049

Santa Monica, California, 90401,

United States

888-465-1784

Latest Swell Energy News

Swell Energy Launches Home Battery Rewards for Hawaiian Electric Customers

Sep 19, 2021

September 18, 2021, 7:09 PM HST Suleman Khan, CEO, Swell Energy. Swell Energy Inc. is enrolling 6,000 O‘ahu, Hawai‘i Island and Maui solar and energy storage customers in its Home Battery Rewards program with Hawaiian Electric, offering significant incentives for existing and new energy storage systems powered by rooftop solar. Incentive payments are based on system characteristics and the fixed monthly payment will apply to the customer’s monthly electric bill. If the incentive exceeds a customer’s minimum bill, participants will receive a check from Hawaiian Electric each month. For example, customers with between 1 – 3 Tesla Powerwalls can earn between $1,500 and $11,700 over the life of the five-year program. There is no limit to the number of batteries a customer can enroll. The program, approved by the Public Utilities Commission, will provide a total of 80 megawatts (MW) of grid services supplied from storage among all participants, which is equivalent to approximately 4,000 residential systems on O‘ahu, 1,500 systems on Hawai‘i Island and 500 systems on Maui. Enrollment is on a first-come basis on each island and customers start receiving value from the program soon after they enroll. “Existing and new solar-plus-storage customers can now get more value from their home energy system with advanced grid service programs like Home Battery Rewards,” said Yoh Kawanami, Director-Customer Energy Resources Operations at Hawaiian Electric. “We are at a turning point in Hawai‘i for advancing the capabilities of all residential solar and batteries already deployed and being installed in the future. By harnessing the collective power in our homes, we enable a more affordable and resilient Hawai‘i that also helps us meet our 100 percent renewable energy goals by 2045 or sooner,” he said. In conjunction with homeowners in the Home Battery Rewards program, Swell Energy aggregates participating batteries to perform grid services such as:  storing excess renewable energy for later use; dispatching stored energy when the grid needs it most; and providing frequency response measures to mitigate potential imbalances on the grid. ARTICLE CONTINUES BELOW AD In the event of a power outage, home batteries enrolled in the program only provide electricity to the customer’s home and the homeowner is in full control of their solar energy and battery. By offering clean, dispatchable and distributed energy resources, Hawaiian Electric expects the Home Battery Rewards program to help the state of Hawai‘i reach its renewable energy goals and is encouraging customers to apply today. ARTICLE CONTINUES BELOW AD “Swell’s Home Battery Rewards program with Hawaiian Electric unlocks the potential for home batteries to bolster the local grid in Hawai‘i and bring even more renewable energy onto the islands. The program is available to a broad set of residential customers, including those who already have an eligible battery system, as well as those seeking to install a new system,” said Suleman Khan, CEO of Swell Energy. “Swell is launching the first phase of this program in partnership with RevoluSun on O‘ahu and Rising Sun Solar on Maui and Hawai‘i Island. We look forward to expanding our local network of Home Battery Rewards partners soon in an effort to make this program accessible to as many homes in Hawai‘i as possible.”    Customers can opt out of the Home Battery Rewards program at any time. There is no penalty and customers will not be required to repay any funds received while in the program. To sign up, visit:  https://swellenergy.com/hi/ Related Articles

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Swell Energy

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Swell Energy is included in 1 Expert Collection, including Energy Storage.

E

Energy Storage

693 items

This collection includes large and small energy storage technology, from grid-scale molten salt containers to small, thin-film lithium-ion batteries.

Swell Energy Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Swell Energy Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.