Curb M10, equipped with 10 energy sensors (CT clamps) that can monitor all the key electrical activities in a home, will allow for accurate tracking of appliance energy usage and aid homeowners and operators in lowering rising energy costs through actionable insights delivered via the Curb app, web interface and email reports. In addition, M10 will track solar production data with its continuous cellular connectivity capabilities and monitor high home energy consumers, such as HVAC systems, EV chargers, water heaters, pools, stoves/ovens, clothes dryers, lighting and more.

M10 is the latest device to connect with Elevation’s Curb cloud-based, AI-enabled smart energy engagement platform. When deployed in a home, Curb receives energy usage data from thousands of sensors in real-time and mines this information to provide actionable insights on energy efficiency patterns and device health. For instance, Curb M10 could predict an HVAC outage or malfunction in advance, mitigating expensive and frustrating repairs or replacements. M10 represents the latest evolution of the Curb product line and pairs years of available Curb’s intelligent, actionable home energy data with new features focused on improving connectivity, reliability and ease-of-use.

Rental operators are increasingly seeking solutions that will enable them to invest in the efficiency and longevity of their portfolio homes for both the betterment of the environment and their bottom line. Curb M10 offers the SFR industry a scalable, easy-to-deploy solution for lowering operating costs and emissions with real-time data monitoring and insights. Similar to existing products in the Curb family, M10 is also designed to empower residents to optimize their relationship with energy through its user-friendly interface and advanced communication capabilities.

“Curb M10 arrives at a time when eco-friendly features continue to be preferred by both renters and homeowners nationwide,” said Greg Fasullo, CEO of Elevation. “Across most SFR portfolios, energy bills are the second-highest cost for tenants after rent. We’re excited to introduce the M10 as a scalable solution for portfolios of all sizes that will deliver measurable cost-saving benefits for operators and residents. With reliable connectivity, a reduced installation time and a more seamless configuration interface, M10 will bring energy efficiency insights and invaluable real-time data to consumers and operators.”

With energy prices expected to remain high throughout 2023, M10 is poised to become an essential and impactful solution for the residential real estate industry. In the face of a historically turbulent housing market, there is a tremendous opportunity for both operators and residents to take greater control of their energy use, carbon footprint and costs with efficiency and technology upgrades. With the launch of M10 and its existing portfolio of whole home energy solutions, Elevation remains committed to offering rental operators solutions to lower emissions, reduce utility costs and improve tenant comfort.

To learn more about the M10 energy monitoring device, please visit: https://www.poweredbyelevation.com/curb-energy-monitoring

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About Elevation

Elevation is a fully integrated residential energy solutions company. As a leader in clean energy technology including solar, energy efficiency, and smart energy management platforms, Elevation takes a whole home approach to energy and sets the industry standard in its deployment of technology to homeowners, institutional operators of single-family rental properties, and utility providers.

As a 2019, 2020, and 2021 Contractor of the Year recipient by the U.S. Department of Energy, the Elevation team possesses extensive knowledge in both the single-family rental market and residential solar spaces. Elevation goes beyond solar to create an Elevated Home and collects data to analyze the direct impact of its solutions. In just one year, Elevation’s customers helped to avoid 128,738 tons of carbon dioxide. For more information, please visit https://www.poweredbyelevation.com.

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The impact of these recent executive actions may not be felt immediately. However, forward-thinking real estate leaders have an immediate opportunity to ride this momentum, and to leverage future investments made in domestic clean energy production. These groups have an opportunity to act now to adopt solutions like solar, home energy efficiency, and monitoring – at scale – to accelerate this U.S. transition to clean energy, one rental property at a time.

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More Power to Homeowners, Managers, and Investors

In the next decade, it’s predicted that 12 percent of all new homes built in the U.S. will be single family rentals (SFR). Many of these homes are owned by larger investment groups and management companies. The DPA will reduce the costs of adopting clean energy for individual residential customers, as well as property managers owning and operating portfolios of single-family homes.

Lower costs and higher availability of materials will make energy efficiency retrofit projects in the SFR market more viable. Homes that have been upgraded with renewable generation, efficient appliances, and energy monitoring are transformed from sources of strain on the grid, to potential assets for decarbonization and utility support. What’s more, reducing emissions produced by millions of single-family homes will propel the real estate industry toward a more sustainable future.

Amid all the momentum driven by legislation and heightened private sector innovation, many American renters are still left out of the equation when it comes to residential clean energy technologies. Supply chain and cost barriers aside, we have an abundance of options for retrofitting homes to increase energy efficiency and boost clean energy production. Since renters do not own their homes, most don’t know how or if they can approach these upgrades. By leveraging local and national incentives and price structures to bring these technologies to entire portfolios at scale, SFR owners and management companies are not only lowering their carbon footprint, they are introducing more Americans to the benefits of a sustainable and efficient home. Owners that pursue clean energy projects in their rental communities are investing in the planet, and laying the foundation for their renters to one day become homeowners with mindful energy-efficient habits.

The DPA makes the integration of clean technology more accessible, both through new home construction and existing home upgrades. Many of the materials needed to complete these projects will be manufactured in the U.S., eliminating international fees or tariffs, and shortening wait times for production and delivery. And, with a two-year bridge on select solar imports from countries like Cambodia, Malaysia, Thailand, and Vietnam (currently in effect), any essential technologies or components that cannot be sourced from U.S. manufacturers will also be lucrative options for maintaining momentum of clean energy projects.

More reliable access to quality materials, from a broad variety of U.S. and international PV and battery technology manufacturers, will help SFRs reduce the carbon footprints of their portfolios – and better utilize the clean energy they generate and store. Opportunities for improving energy efficiency in SFRs are widespread; they extend beyond just energy generation and addressing inefficiencies such as improper insulation or outdated appliances. The emissions reductions that come with clean energy sourcing and enhanced energy efficiency can also serve as strong ESG proof points in real estate portfolios for investors and developers.

Taking Efficiency from Rental Communities to the Grid

U.S. reliance on foreign countries (i.e., China) has disrupted the energy supply chain, and significantly impacted the clean energy industry by extending the timelines for residential and commercial clean energy projects designed to lower emissions and support utilities in their efforts to modernize grids. The DPA will strengthen our domestic solar and grid manufacturing industries, and help lower utility costs. Coupled with low- or no-tariff imports of components from international suppliers, we’ll see increased availability and a greater variety of technologies; even small-scale retrofit projects, like those owned by SFRs, will be able to contribute to meaningful change in clean energy generation and smarter energy use.

As the industry, and society at-large, waits to see how the DPA will go into effect, SFR operators must act on this opportunity to lead meaningful change. These executive actions have been introduced at a time of increased consumer demand for clean energy and home efficiency technologies. Heightened awareness of the lasting impact inefficient homes can have on the environment presents the perfect opportunity for property managers to invest time and resources into upgrading the efficiency of their portfolios.

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The signing of the Inflation Reduction Act (IRA) has brought terms like “heat pumps” and “photovoltaics” into the national spotlight and homeowners’ vocabularies. One thing that’s flying under-the-radar: how both clean energy generation and efficient energy usage can come together for homeowners, landlords, and renters to save money and energy.

Benefits For Homeowners: Closing The Gap

The initial upfront costs of energy-efficient appliances and retrofits has long been one of the largest barriers for homeowners and property managers. The spread of rebates and tax breaks offered by the IRA will go a long way toward removing and reducing this barrier. Homeowners and property managers can now save money upfront as they add rooftop solar, install heat pumps, and switch out natural gas-powered dryers for electric, energy-efficient upgrades.

The diversity of incentives is one of the most intriguing parts of the IRA – there’s something in there for everyone.

Homeowners who have previously been on the fence about adding rooftop PV and home battery systems can make the transition with the tailwinds of a sizable tax break: a 30% tax credit that will be extended at a flat rate for 10 years is included in the IRA. This will revolutionize the demographics of Americans who can install solar and storage.

Landlords and real estate portfolio managers will be guided consistently towards smart-money investments in clean energy generation and efficiency. The diversity of incentives offered and the ability to package them together to achieve maximum savings will bring energy savings to Americans who previously have been left out, including renters, marginalized communities, and first-time homeowners.

As companies in the clean technology industry seek to help homeowners make the most of the tax credits and rebates, real-time data and energy usage monitoring tools will be key in identifying areas for immediate energy savings. Home energy audits will allow homeowners and energy services companies to seamlessly work together to create customized plans. As consumers save money from their solar, storage, and efficiency upgrades, they’ll be able to reinvest the savings into future improvements and installations.

Homeowners, real estate investors, and property managers can choose from a menu of rebates and tax credits that come with installing new, energy-efficient appliances, including heat pumps, water heaters, and stoves – with insulation ventilation, and wiring improvements included as well. Consumers can take as many of these rebates as they would like, up to a total of $14,000.

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Benefits For Real Estate Operators: Faster Scalability

Every step taken toward clean energy generation (i.e., solar panel installation) and managing energy usage within a home (i.e., insulation improvements) can be compounded. Generating energy through solar panels, storing energy in residential battery systems, and using this energy to run electric-powered appliances all work together towards increased sustainability for homeowners – financially and environmentally.

The installation of rooftop solar and/or the upgrades included in the Home Rebate program are all only the starting point for a chain reaction. Take, for example, a landlord who owns a set of four Single Family Rental (SFR) homes in a neighborhood. This landlord, as he installs rooftop solar at a discount and switches the appliances within his rentals for energy-efficient options, does so knowing that he has a return-on-investment waiting. Homes that are cheaper to heat, cool, and power and have reduced carbon footprints are extremely attractive for renters. Institutional landlords have the potential to scale these technologies and reach  millions of renters who have not had access. Simply put, there is a great opportunity to make energy use a more interactive and mindful experience for renters.

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Benefits For Clean Energy Providers: Increased Demand

As consumers rush to take advantage of these savings, energy-efficiency and solar companies will be forced to compete and innovate to find ways to meet demand. This same way of innovation and competition took place over a decade ago following the Obama Administration’s Recovery Act of 2009, which brought an estimated 900,000 jobs in the six years that followed. This corporate growth and innovation helped spur some of the companies leading the charge in decarbonizing the energy sector today.

Innovation driven by competition will not be the only industry result of the increased demand. As individual homeowners and real estate portfolio managers seek to install rooftop solar, batteries, upgraded appliances and other energy-efficient improvements, they’ll be stimulating the domestic construction and contracting industries. Electricians, plumbers, and solar installation technicians will be busier than ever. The $70B+ in clean domestic manufacturing investments provided by the IRA will drive the creation of new jobs – an estimated 912,000 new jobs per year for the next 10 years.

Holistic, whole home carbon reduction is the intended goal of the bill’s residential incentives and earmarked funding. There’s no question that homes that generate, store, and use renewable electricity will be a key part of achieving the emissions reduction goals outlined by the federal government. It will be rewarding to watch homeowners, landlords, and renters all share the benefits of this journey.

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In fact, single-family homes comprised nearly three-quarters of the one in five U.S. homes bought by institutional investors during the fourth quarter of 2021.

As a lucrative market, the number of SFRs is only bound to accelerate further; SFRs are predicted to encompass 12% of all new homes built over the next decade. This growth reveals a golden opportunity for SFR operators, particularly when ESG goals are concurrently increasing as a priority within the real estate industry.

Taking steps to decrease residential energy consumption and reduce dependence on fossil fuels will be consequential for those not only looking to meet ESG standards but to benefit the planet as a whole.

Residential Energy Consumption and GHG Emissions

ESG efforts, often captured through ESG scores, have become critical not only for decarbonization but also for amassing capital and achieving positive public reception. In fact, one study found that companies with higher ESG scores experienced lower costs of capital, equity and debt compared to those with lower ESG scores.

A major opportunity exists for higher ESG scores within SFRs, especially with residential energy consumption currently accounting for nearly 20% of U.S. energy-related greenhouse gas emissions. With SFRs increasing in scale, SFR operators must be scrupulous in ensuring that buildings across their portfolios are more energy-efficient and climate-friendly in order to obtain higher ESG scores.

Although rental housing inefficiencies can be attributed to various causes, building and appliance inefficiency are often great contributors to significant energy usage. With outdated infrastructure, tenants and investors remain uninformed about the most energy-draining aspects of the home.

New Energy Solutions

However, SFR operators have considerable potential to reduce energy usage, first by conducting energy audits to help determine where the most energy is being expended and even wasted. This includes identifying defective wiring, insulation or sensors that can be replaced. The retrofitting of older homes is another viable means of increasing energy efficiency. This may entail improving insulation, installing renewable energy generation sources or replacing older appliances with newer energy-efficient models.

Emerging technologies are also beginning to allow for more innovative and lower-cost methods of increasing energy efficiency, including methods providing real-time data to inform residents on energy usage and room for improvements.

Consumer Demand Pushes for Energy Efficiency

Investors aren’t the sole proponents of energy efficiency. Renters are increasingly looking for means to live more sustainably as well.

According to one report from the American Council for an Energy-Efficient Economy, when given the means to compare rental units’ energy costs, prospective renters chose energy-efficient rentals 21% more frequently. The implications of this can potentially benefit institutional landlords as well. The same report also found that renters were willing to increase their monthly rent by 1.8% on average for a one-unit increase in energy score, translating into more than $400 of additional revenue annually for landlords.

With additional support from renters, SFR operators are poised to have an outsized impact on decreasing emissions and propel the real estate industry forward into a greener future.

Further U.S. Domestication in Energy Solutions Benefits SFR Operators and Consumers  

While efforts to increase energy efficiency in homes have been in progress for years, now is the opportune time for SFR operators to expedite their energy efficiency processes.

Thanks to recent initiatives by the White House, including the invocation of the Defense Production Act, the nation is prioritizing domestic solar panel manufacturing and other long-term goals to domesticate the clean energy supply chain now more than ever before.

As a result, a more stable supply chain can be realized, allowing lower prices for those seeking to employ energy-efficient practices.  

Setting a Precedent for Energy Efficiency

With institutional investors’ sheer reach in portfolio sizes, the impactful role they need to play in lowering carbon emissions can no longer be neglected. Many SFRs have led the shift in increasing energy efficiency by announcing significant plans to retrofit. With SFRs now able to measure their energy consumption, many SFR operators will be able to report on how their homes are leading by example, setting an industry-wide standard sure to bring lasting influence.

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The surprising news is that you don’t have to go big to go green. Here, we rounded up 13 minor tweaks with major environmental benefits that you can incorporate into your daily routine.

Hang curtains.

Window treatments that offer full coverage from summer’s warm days and winter’s icy winds (which can creep in even when windows are closed) give a helping hand to your HVAC system so it doesn’t have to work so hard to maintain a comfortable temperature in your home.

Grow indoor plants.

Adding houseplants helps improve your home’s air quality by reducing levels of pollutants, dust, and carbon dioxide. While you’re at it, grow a few herbs as well. This helps lessen the long-haul trucking-in of produce and your own home-to-store transportation to buy it.

Take shorter showers.

Did you know? If every American shortened their shower by five minutes every day for a month, we could save trillions —trillions! — of gallons of water.

Swap light bulbs for LEDs.

Energy efficient LED bulbs use less electricity (better for the environment and your monthly bill), plus they last longer so you don’t have to replace them as often.

Brew drip coffee. 

Pod coffee makers are certainly convenient, but those plastic pods accumulate. Consider investing in a quality drip coffee maker; you’ll get more cups of java out of it and consume less plastic.

Hand-wash your dishes.

You don’t have to do this all the time, but skipping the automatic dishwasher once or twice a week reduces your water consumption and your peak energy demand on the grid.

Use cloth for spills.

Paper towels are handy, but it’s just as easy to use old towels or t-shirts as rags and reusable linen napkins instead of paper napkins.

Install a smart thermostat.

Not only are today’s smart thermostats so advanced that they learn your habits and usage patterns to auto-adjust temperatures from room to room, even when you’re not home, they’re also affordable.

Wash clothes in cold water.

A standard washing machine spends most of its energy heating up the water. But cold water launders clothing equally as well. It also uses less energy and helps preserve the quality of fabrics.

Clean the dryer filter.

Getting rid of built-up lint on your dryer’s filter improves its efficiency — not to mention it only takes a few seconds to do.

Or line-dry clothes.

Air-drying your clothing doesn’t require much additional effort and it’s often as effective — and with delicates, more effective — as the dryer.

Pay bills online.

This is a super simple way to pay bills in a timely manner while also cutting back on paper waste.

Dust refrigerator coils.

You want the fridge to run at the optimal temperature to keep food cold, so make it a point to regularly dust underneath to remove loose dirt or debris that could be hampering its efficiency.

We’re Here To Help

Still not sure where to begin? Start with our Home Energy Score to see what you can do to improve your home’s energy efficiency.

Can I use solar to charge my EV?

Yes. Not only can solar energy charge your entire home, it can also power the battery of your electric vehicle.

What solar equipment do I need to charge my EV?

Most whole-home energy solutions companies set you up with everything you need, but here’s a quick checklist:

• Solar panels
• String inverter or micro inverters; both convert the direct current (DC) output of solar to alternating current (AC), but a string inverter is a standalone box installed by the main service panel while micro inverters are installed under each solar panel
• Level 2 EV charger or EV-charging solar inverter

How many solar panels do I need for my EV?

A standard number is about 10 solar panels. Most residences get 20-30 panels installed, so you should have more than enough power to charge your electric vehicle. Keep in mind that the number of panels varies on the size of your car’s battery, its mileage rating, and the distance you’re driving each day.

Do I need solar batteries to charge my EV?

No. It’s likely you won’t have to charge the EV’s full battery all at one time. It’s also likely you’ll be charging the vehicle at night during which you can earn net metering benefits — credit for solar energy that you contribute to the grid during the day. With those benefits, the grid can act as your additional energy storage, or battery.

That being said, it’s never a bad idea to consider solar batteries as part of your whole-home energy solution. Not only can solar batteries store the energy you generate but don’t use, they can also act as back-up energy sources during a power outage.

What is the green benefit of pairing solar with my EV?

You probably already know the environmental perks that come with making the switch from a gas-powered vehicle to an electric one. But did you know that when you charge your EV using grid power, you’re using an energy source of which nearly 60% is supplied by power plants fueled by non-renewable energy? So even though your vehicle doesn’t run on coal, you’re still powering it that way. Charging your electric vehicle with solar allows for a completely carbon-neutral footprint.

Is it cheaper to charge my electric vehicle with solar?

Yes. For one, producing your own energy at home with solar cuts your electric costs in half when compared to sourcing energy from the grid. That’s savings you’ll enjoy regardless of if you drive an electric vehicle or not. But additionally, if you use solar to charge your EV you’re looking at even greater savings — especially when calculated over time. Consider these numbers:

• Cost of charging your EV using grid power: $.10 to $.40 per kWh. The price of fuel from the grid is what you pay for a kilowatt-hour (kWh). For every kWh in the EV’s battery, it gets about 4 miles; so 12 kWh gives you a 40-mile daily round trip at an average of $1.56. But remember that electricity prices rise over time, so when averaged over 25 years, the cost of powering your EV from the grid can get expensive.
• Cost of charging your EV at a public charging station: $.28 to $.69 per kWh. Tesla charging stations can cost about $.28/kWh, while Blink can run about $.39/kWh (and even up to $.69/kWh for fast charging).
• Cost of charging your EV with at-home solar: less than $.11 per kWh. If you take the cost of solar installation and look at the amount of energy that solar generates over 25 years, you’ll see savings of thousands of dollars for charging your EV with solar.

We Make Energy Easy

Elevation offers fully integrated home energy solutions, and we’re here — by your side and ready to answer questions — from start to finish. Get an instant solar quote today!

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Electrification of everything.

“When looking at the big picture,” says Romito, “we’re going to see massive increases in consumption of electricity. The initiative to decarbonize the planet is going to be done through electrification.

“Not only are we going to see population growth and continued interconnected devices, but electrification of transportation will take place as well as electrification of what used to be gas and fuel oils.

“In order to decarbonize, we have to get away from fuel sources. And the best alternative is electricity. This is going to cause a major paradigm shift for electric producers, electric generators, and electric utilities. We’re looking at massive diversification in the tools and methods of energy generation and delivery.”

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Changes in when electricity is consumed.

Romito explains: “An essential component for the future of energy is an ever-increasing importance on when energy is consumed. This is going to be fundamental. It’s going to drive how we behave, how we pay for energy, and when we use energy.

“What you’ll see is the influx of time-of-use pricing. Soon every utility in the United States is going to have time-of-use pricing.

“And most likely, many will also have a form of demand-based pricing. Not all times of the year or day are treated the same. As we electrify, we need to be thinking of behaviors, such as, when do people charge their cars, when do they turn on their HVAC systems, what times of day, and time of year, and in what regions, are the most energy intensive? When the grid gets so constrained, new resources will need to come online.”

Flexibility is key.

“As we turn more and more to renewable energy, we’ll need to embrace the concept of flexibility,” says Romito. “The utilities will be under the gun to modernize their fleet due to the increased amount of renewable energy on the grid. That, and electrification, are the drivers of this must-have flexibility.

“The grid operates 24/7/365. There are 8,760 hours in a year. Those hours are not created equal. Flexibility means that during the worst 20 hours of the year — times when there is the most pressure on the grid — the utilities will need to rethink from where, and how, they source energy. The American economy depends on its backbone of clean air, clean water, and available and affordable electricity. The energy has to come from someplace.

“What do resources look like? In the past, our tool kit included nuclear, coal, natural gas, maybe some diesel. But those are pollutants; those are emissions-based products. We’re going to need better tools.”

New technology will be more important than ever.

“One of the major tools in that kit is the untapped market of residential device integration and aggregation,” continues Romito. “Technology has equipped us — technologists and energy solution providers — to be able to aggregate residential devices intelligently so they are responsive to major grid events. They become a powerful tool to help utilities, and society, manage around those worst 20 hours of the year.

“The technology-enabled aggregation of residential distributed energy resources (DERs) means scaling those devices into a market or a platform that can be considered ‘resource adequate.’ It’s likely that the aggregation of DERs will become a major business model in the energy space.”

Regulation will evolve.

“The U.S. has dozens of public utility commissions and the current model of regulation is slow,” Romito says. “And a slow process doesn’t create an environment conducive to the dynamic future we’re predicting.

“As the regulatory model evolves, DER providers and grid operators will need to come together more often to review and refine what they’re doing, as well as make expenditures that aren’t conventional — as long as those expenditures are prudent to advancing the future of the grid.

“You can’t ask entities to go through a major paradigm shift without reexamining the regulatory model no more than you could have gotten Americans on the moon without having public and regulatory support behind NASA.”

The future of energy is collaboration.

As utilities rethink energy production, and as their resources become more flexible and their fleets more sophisticated, they’ll depend on partnerships with private entities that deploy distributed technologies in an intelligent way that benefits both the end consumer and the grid. Elevation works closely with major electrical utility providers nationwide to develop innovative energy-saving solutions. Contact us to learn more about our partnerships.

It’s a lens through which investors can evaluate the behavior of a company, as well as how it’ll perform financially. And doing so is a trend that’s growing rapidly as more and more consumers show that they’re willing to pay more for products that are socially and environmentally conscious.

Here, we dive into the criteria for the ESG metric and discuss why it’s key for companies to consider creating an ESG strategy.

What defines ESG?

There are three factors that make up ESG: environmental, social, and governance. Each of these categories comprises specific criteria.

Environmental looks at how a business acts as a good steward of the environment. Criteria include:

• Climate change
• Air and water pollution
• Waste management
• Energy generation and usage
• Greenhouse gas emissions

Social evaluates how a business manages relationships with people, from its employees, to its customers, and the communities it serves. Criteria include:

• Working conditions
• Employee training opportunities
• Community engagement
• Diversity
• Health and safety

Governance examines a company’s leadership, executive pay, and its internal controls and audits. Criteria includes:

• Company operation and ethics
• Executive pay
• Board diversity and structure
• Tax strategy
• Political lobbying and donations

Why is ESG important?

Consumers’ buying behavior over the past 10 years has proven the power of ESG reporting — customers seek out companies with strong ESG performance, even if purchasing products from those businesses is more expensive or more difficult. In fact, a recent report from Forbes says that nearly 75% of millennials are willing to spend more money on sustainable conscious products.

Beyond the bottom line benefits of increased consumer spending, additional reasons that companies should consider ESG as part of their business strategy are:

• ESG provides investor insights.

Reporting on ESG metrics gives investors greater intel about company risks and how to overcome those risks.

• ESG brings financial returns.

Studies show that approximately 90% of companies with strong ESG profiles have equal or better financial performance than their non-ESG counterparts.

• ESG helps combat climate change.

ESG reporting offers a peek at how companies are handling climate change, arguably one of the greatest issues our world faces today. In the near future, it will likely become mandatory for companies to share how they are responding to climate change, from how they’re mitigating the physical risks (extreme weather, biodiversity loss) to how they’re managing the transition risks (the economic shift to a low-carbon society).

How can a company generate positive ESG performance?

Across all three ESG factors, there are myriad options for how a business can boost its ESG evaluation.

Environmental:

• Publish carbon or sustainability reports
• Use renewable energy sources
• Partner with an energy solutions provider to offer residents whole-home packages

Social:

• Support diverse hiring practices
• Pay fair wages
• Operate ethical supply chains

Governance:

• Establish corporate transparency
• Embrace diversity on governing boards
• Building executive bonuses that rely on more than just revenue or income

Learn More About How Elevation’s Impact on ESG

Contact us to discuss our three-pronged approach to whole-home solutions — solar, smart technology, and energy efficiency — and discover how companies that partner with us are improving their ESG.

Types of Distributed Energy Resources

Here’s a quick breakdown of the varying types of DER or Distributed Energy Resources:

• Combined heat and power plants;
• Electricity storage, such as pumped hydro-electric in which electricity fills, pumps, then ultimately releases water from a reservoir to pass through a turbine to generate electricity;
• Compressed air, in which electricity squeezes air to a maximum pressure value of roughly 1,000 pounds psi (per square inch), releasing it through an expansion turbine generator when demand is high;
• Flywheels, in which electricity accelerates a flywheel rotor, conserving the resultant power until needed, at which time the flywheel is released to power a generator attaining rotational speeds up to 60,000 revolutions per minute;
• Batteries resembling large scale rechargeables, which reserve available electricity until needed. This scale of battery is often made of lithium ion, lead acid, lithium iron or more recent technologies;
• Thermal energy storage, wherein electricity is made to produce thermal (heated) energy used to chill water or sustain ice, or during peak demand, cool air, and
• Solar energy, which captures sunlight to produce photovoltaic power (PV) or concentrated solar power (CSP) for heat dispersal within lights, pools, heaters and small appliances.

Distributed Energy Resources and Solar Energy

Let’s focus on the most popular form of Distributed Energy Resources or solar-powered systems.

Solar power systems work as an adjunct to traditional coal or petroleum-based resources. Rather than relying solely on the electrical grid, which strains and occasionally buckles during peak demand times such as throughout extreme heatwaves, customers can deploy solar power to boost capacity when needed. Users may also access solar energy under less demanding circumstances, in order to reduce environmental impact.

Solar power access has achieved reliability since its inception in the 19th century. Patents for the process began appearing in the U.S. as early as 1888. The first solar cell was created by Charles Fritts, who coated selenium with a fine layer of gold. He noted that while such primitive cells could only achieve a low conversion rate of one to two percent, it was “continuous and constant.” Since that time, solar cells have grown in conversion ability, with many cells or panels now regularly achieving 15-20 percent efficiency.

The Rise of Solar Energy

While efficiency and output improved steadily during the 20th century, it wasn’t until the energy crisis of the early to mid-1970s  (despite significant refinements achieved at Bell Labs in the 1950s, most notably due to the substitution of silicon for selenium) that solar power entered common consciousness. It was at that point that solar cells began their slow but steady incorporation not only into business usage but also as a preferred feature in modern homebuilding.

Between 1994 and 1999, the National Renewable Energy Laboratory or NREL, further enhanced solar cell technology to feature gallium indium phosphide and gallium arsenide, which empowered solar cells to achieve 30% conversion efficiency. By the end of the 20th century, the NREL was able to further enhance conversion rates (by the incorporation of thin-film solar cells) to reach a 32% conversion rate of solar energy into power.

Solar Panels on Residential Homes

At that stage, the home building industry began regularly offering solar panels as a feature in newly built homes. “Do it yourself” building of solar panels became feasible around 2005, while by 2015, paper-thin solar cells became available as a result of advances in industrial printing. The new, thinner cells are ideal for roof tiles or shingles. These film-like strips regularly achieve a rate of 20% conversion power, with a solitary strip offering approximately 50 watts per square meter.

Along with greater accessibility, solar power offers a significant price decrease versus electrical energy. As of 2021, the average price for home energy solar power access is roughly $0.06 per kilowatt-hour (kWh), though prices do vary depending on location and market availability. Contrasted with the current rate of $0.13.19 per kWh for electric power, it’s clear that adding solar energy access could not only aid in lower electric energy bills but could also significantly reduce users’ carbon imprint. This makes solar energy ideal for those who are not only cost-conscious but also actively engaged in environmentally friendly practices.

Of further important note is new legislation extending residential solar tax credits, which will remain at 26% for 2021 and 2022, dropping to 22% in 2023. (Legislation is subject to change.) Those currently engaged in the home building process, or homeowners considering alternative Distributed Energy Resource or DER options, might heed these pending changes when considering their timeline for adding solar power to their current power system.

Elevation will Elevate the Experience

For questions or further information on how solar energy can help power your home, contact Elevation. Elevation is leading the transition from sole reliance on traditional power to access to affordable Distributed Energy Resources for consumers, utilities and enterprises, and can aid in:

• Residential Solar and Storage: turnkey deployment of residential solar and storage across our seven-state footprint in Arizona, California, North and South Carolina, Florida, Nevada and Texas;
• Distributed Energy & Grid Solutions: aggregated smart homes with metered controls utilizing smart algorithms to aid in both monitoring and managing energy consumption, assisting homeowners in simultaneously reducing energy expense while shifting demand, permitting utilities to implement continuous Virtual Power Plant solutions and Active Demand Management strategies;
• Data & Diagnostics: through our Curb Energy program we provide customers and utilities real-time visibility of home energy consumption and breaker level detail, enabling advanced demand management and predictive analytics of HVAC systems.

For more details, or to learn more about Elevation has to offer you please contact us.

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What Are Virtual Power Plants

Ongoing efforts to improve energy reliability and sustainability have given rise to the idea of virtual power plants. Unlike a traditional power plant, a virtual power plant applies a decentralized power-generating network, including wind farms, combined heat and power (CHP) units, flexible power consumers, storage systems, and solar parks. The central control room within a virtual plant connects the various assets and ensures their independent operation. That effectively relieves the load on the grid by balancing energy availability with peak use times.

Sustainable Energy Management

Virtual plants promote a sustainable approach to overall energy management. Instead of relying on a fossil fuel-only-based resource, or even a single sustainable resource, such as hydropower resources, virtual energy plants allow for a broad swath of energy resources to be called upon at any moment. As a result, the sharing of energy or energy transfer throughout the virtual network allows areas with fewer renewable resources to tap such resources in other regions and geographies. That is a marked advantage in regions where energy resources, such as geothermal energy, are not necessarily as active or available.

Added Benefits of These Power Plants

The benefits of virtual energy plants are simply too great to ignore. Everyone realizes that renewable sources of energy are the way of the future. Still, problems within traditional grids or how grids are managed, as seen recently within Texas, can have a disastrous impact on overall energy availability. A more proactive approach and use of virtual power plants can avoid potential disruptions and help ensure a well-distributed energy resource is available for centuries to come. The added benefits of virtual energy plants include the following:

• Expansion of the energy grid to overcome periods of high demand.

• Increased forecasting for energy demand to scale production to avoid outages.

• Data-driven energy management and services that keep wholesale energy costs lower for businesses.

• Virtual power plants help to reduce infrastructure shortfalls.
• Virtual power plants also offer contracted management systems.

Get Future Ready

From lower operating costs through the decreased environmental impact and a natural ability to manage the virtual grid remotely, virtual power plants are a next-generation capability of proactive energy management. And implementing those resources is much easier with the right sustainability partnership and solutions provider, such as Elevation. Contact Elevation to find out how you can prepare your home for this bright future.

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