Founded Year

2010

Stage

Debt - III | Alive

Total Raised

$674.88M

Last Raised

$1.2B | 6 mos ago

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

-34 points in the past 30 days

About Palmetto

Palmetto focuses on providing solar energy solutions. The company offers solar panel purchasing, solar energy plans, and protection services for solar systems, HVAC solutions, and financing options such as solar leases, purchases, and subscriptions. It serves the residential clean energy market with its energy modeling platform. Palmetto was formerly known as Ecologic Solutions. It was founded in 2010 and is based in Charlotte, North Carolina.

Headquarters Location

1616 Camden Road Suite 300

Charlotte, North Carolina, 28203,

United States

855-339-1831

Loading...

Palmetto's Product Videos

ESPs containing Palmetto

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Industrials / Energy Tech

The solar-plus-storage providers market offers integrated solar photovoltaic (PV) and energy storage solutions. These providers customize systems to meet customers' energy requirements, using advanced technology and data analytics to optimize efficiency and savings. The market provides comprehensive services including design, installation, maintenance, and support services, and it allows for energ…

Palmetto named as Challenger among 15 other companies, including Arcadia, Silicon Ranch, and NineDot Energy.

Palmetto's Products & Differentiators

    Palmetto Home

    Home energy app for making the switch to clean energy and managing energy production/consumption

Loading...

Research containing Palmetto

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Palmetto in 2 CB Insights research briefs, most recently on Mar 28, 2024.

Expert Collections containing Palmetto

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

Palmetto is included in 3 Expert Collections, including Unicorns- Billion Dollar Startups.

U

Unicorns- Billion Dollar Startups

1,276 items

G

Grid and Utility

2,754 items

Companies that are developing and implementing new technologies to optimize the grid and utility sector. This includes, but is not limited to, distributed energy resources, infrastructure security, utility asset management, grid inspection, energy efficiency, grid storage, etc.

R

Renewable Energy

4,803 items

Latest Palmetto News

10:00 ET Palmetto's Energy Intelligence Group Secures WattShift as First Virtual Power Plant Customer

Apr 17, 2025

News provided by Share this article API to Accelerate Clean Energy Adoption CHARLOTTE, N.C., April 17, 2025 /PRNewswire/ -- Palmetto, a leading provider of clean technology products and services, today announced its Energy Intelligence Group has signed WattShift as its first Virtual Power Plant (VPP) customer. This milestone follows the recent launch of Palmetto's Energy Intelligence API , a powerful new data tool that provides unprecedented access to building energy modeling. The API empowers businesses, utilities, and developers to drive the widespread adoption of clean energy solutions. The company's first VPP customer is WattShift , a leader in smart thermostat and distributed energy resource demand management bringing cheaper, cleaner energy to homes. Recognizing that peak energy demand drives up costs and carbon emissions, WattShift's software connects to smart thermostats and intelligently manages energy use during these critical times. Whether with thermostats, hot water heaters, or home solar and battery arrays, WattShift's innovative approach puts money back in consumers' pockets without compromising comfort by proactively adjusting settings based on grid conditions and energy prices. WattShift is using Palmetto's Energy Intelligence software to predict a home's energy consumption, production, and storage capacity at peak demand times, thereby improving load-shifting recommendations and maximizing impact with minimal disruption to comfort or convenience for our customers. Will Blanchard, CEO of WattShift, stated, "Palmetto's Energy Intelligence software allows us to model a home's disaggregated energy footprint at the hourly level, insights that help us create maximum value for our customers. These insights allow us to optimize the timing of energy usage, including the efficient utilization of battery and thermal storage for grid support. The product was a natural fit for us at WattShift, and the platform offers the potential to significantly expand WattShift's reach and impact." Palmetto's Energy Intelligence API models the building and energy footprint of every residential building in the United States, detailing energy consumption by fuel type and disaggregated end-use. This proprietary AI-powered technology is now available to developers globally, enabling the creation of scalable solutions for energy and climate challenges. The API allows users to pinpoint any U.S. residential address, analyze its building characteristics through geospatial intelligence, understand energy consumption patterns, and forecast the impact of energy efficiency upgrades. By equipping businesses with this actionable intelligence, Palmetto empowers them to guide consumers in transforming their homes into resilient, clean energy hubs. This forward-thinking technology facilitates the integration of distributed energy resources and optimizes the grid edge. "Our goal in developing the Energy Intelligence API was to accelerate the clean energy transition by democratizing access to powerful AI-driven energy data for businesses and developers," said Michael Bratsafolis, President of Energy Intelligence at Palmetto. "By providing granular insights into energy consumption and production across diverse scenarios, we are helping our customers build smarter, more efficient energy systems that benefit both consumers and the environment." Key Benefits of the Energy Intelligence API: Detailed Energy Insights: Access modeled hourly energy usage data, broken down by end-use, to optimize consumption and reduce costs. Scalable & Flexible Integration: Customizable integration options for businesses, utilities, and software developers. Enhanced Grid Optimization: Supports demand forecasting, load balancing, and the management of distributed energy resources. Empowered Consumers: Provides tools for end-users to monitor and actively reduce their energy footprint. Best-in-Class Building Energy Modeling: Granular analysis of over 60 building attributes, including distributed energy resources (DERs) like solar PV and battery storage, HVAC systems, and building envelope characteristics such as windows and insulation. Comprehensive Reporting & Data Management: Users can generate detailed reports, assess project feasibility, and conduct intelligent parametric searches based on geographic, energy, and demographic criteria. What will you build? Palmetto is actively onboarding new customers - interested parties can create an account here and start building in minutes. Pricing will be set on a per-call basis, and can be customized for predictable volume buyers, but the generous free tier will enable any interested developer access to the technology. Join Palmetto at San Francisco Climate Week! Palmetto's Energy Intelligence Group will be co-hosting the 2025 Energy Hackathon during San Francisco's Climate Week. Learn more about their insights and the future of energy intelligence at   https://www.sfclimateweek.org/ . About Palmetto Palmetto is an award-winning clean technology company committed to accelerating the transition to a clean energy future. Through its cutting-edge technology platform, Palmetto simplifies the adoption of renewable energy for homeowners, fosters innovation among businesses and clean tech entrepreneurs, and drives significant environmental impact. Palmetto's platform integrates digital tools, data assets, and actionable insights to deliver an end-to-end solution powering its consumer marketplace. The company operates as both a B2B and D2C provider, offering software, financial products, and support services that provide competitive pricing and exceptional value to end consumers. Key offerings include the Clean Energy Operating Platform, LightReach Energy Plans, Energy Intelligence, and Asset Management Platforms for customer service, with ongoing innovation in the pipeline. Dedicated to making clean energy accessible to all, Palmetto's Get Solar, Give Solar program funds philanthropic initiatives that bring renewable energy to underserved communities globally. As a triple bottom line company with team members across the United States, Palmetto prioritizes people, planet, and profit in every aspect of its operations. Media Contact:

Palmetto Frequently Asked Questions (FAQ)

  • When was Palmetto founded?

    Palmetto was founded in 2010.

  • Where is Palmetto's headquarters?

    Palmetto's headquarters is located at 1616 Camden Road, Charlotte.

  • What is Palmetto's latest funding round?

    Palmetto's latest funding round is Debt - III.

  • How much did Palmetto raise?

    Palmetto raised a total of $674.88M.

  • Who are the investors of Palmetto?

    Investors of Palmetto include Morgan Stanley, Truist, The Rise Fund, Lerer Hippeau, ArcTern Ventures and 14 more.

  • Who are Palmetto's competitors?

    Competitors of Palmetto include EnergySage and 1 more.

  • What products does Palmetto offer?

    Palmetto's products include Palmetto Home and 4 more.

Loading...

Compare Palmetto to Competitors

SolarKal Logo
SolarKal

SolarKal provides commercial solar advisory services in the solar energy sector. The company offers services including portfolio analysis, regulatory approvals, vendor selection, contract negotiations, and project management for solar energy projects. SolarKal serves commercial real estate companies, REITs, Fortune 500 companies, national education organizations, and commercial properties. It was founded in 2015 and is based in Somerville, Massachusetts.

EnergySage Logo
EnergySage

EnergySage provides an online marketplace for consumers and businesses interested in converting to solar energy. It empowers consumers to make energy decisions. It guides mass-market buyers to request and compare competitive quotes. It was founded in 2009 and is based in Boston, Massachusetts. In 2022, EnergySage was acquired by Schneider Electric.

Black Bear Energy Logo
Black Bear Energy

Black Bear Energy is a technology-enabled, commercial buyer’s representative specializing in onsite renewable energy and cleantech services. The company was founded in 2015 and is based in Boulder, Colorado. On July 19th, 2022, Black Bear Energy was acquired by Legence. The terms of the transaction were not disclosed.

Loading...

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.