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.

‍

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.

‍

With the challenges to powering a home affordably, reliably, and sustainably greater than ever before and recently enhanced federal incentives, Elevation is experiencing 65% year over year sales growth. The priority for Elevation is to expose more homeowners to the alternatives to continued dependence on the increasingly costly, decreasingly dependable, and environmentally impactful power grid.  This partnership with Sun Devil Athletics will drive homeowner awareness to propel Elevation’s continued growth in Arizona and beyond.

“Our partnership with Sun Devil Athletics reflects Elevation’s commitment educating Arizona homeowners on our economical and ecological energy technology solutions,” said Greg Fasullo, CEO of Elevation. “Through Sun Devil Athletics, Elevation will reach millions of qualified potential customers passionate about sustainability with solutions that benefit them and support their university on and off the field.”

Elevation’s portfolio of products and services meet the needs of every home, from renovated and retrofitted homes to new construction. Within the partnership, members of the Arizona State University community will get access to Elevation’s unique set of energy offerings, which includes:

●       Curb, Elevation’s energy monitoring platform, which connects to a home’s electrical system, giving residents real-time data to make smarter decisions about how energy is being used.

●       Energy efficiency services to measure air leakage, check insulation levels, evaluate the home’s air quality and efficiency, and identify areas that need to be sealed or insulated.

●       Solar energy installations with high quality solar panels to generate renewable energy from the sun to power the home plus energy storage to provide backup power and relief from high utility rates.

According to a study published in the scientific journal PNAS, residential energy use accounts for 20% of the greenhouse gas emissions in the U.S. The partnership between Elevation and Sun Devil Athletics will promote impactful solutions to reduce the carbon footprint made by residential homes. To learn more about the partnership, please visit https://asu.elevation-one.com

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.

‍

The partnership between Sparrow and Elevation brings energy solutions and technologies to residents as part of Sparrow’s commitment to sustainability which has been deeply rooted in the core values of the company since inception. Single family renters prioritize energy efficiency and conservation programs, and Sparrow’s values and focus on sustainability resonates with its residents.

With the common goal of bringing environmental and economic efficiency to rental homes, Elevation’s solutions are designed to save residents upward of 20% on annual electricity costs. The partnership will begin with a pilot this summer in Arizona, and then continue to Sparrow’s homes in various markets across the country.

“Our partnership with Elevation reflects Sparrow’s larger commitment to environmental and sustainability best practices,” said Jami Schulman, Co-Founder, President and COO at Sparrow. “With Elevation’s services we will be able to reduce our portfolio’s carbon footprint, improve grid resiliency, and provide meaningful and measurable energy savings to our residents.”

Elevation’s portfolio of products and services meet the needs of every home, from newly renovated to new construction. Within the partnership, Sparrow homes will have access to at least one of Elevation’s many energy offerings, which include:

Curb, Elevation’s energy monitoring platform, which connects to a home’s electrical system to give real-time data to make smarter decisions about how energy is being used.Energy efficiency services to measure air leakage, check insulation levels, evaluate the home’s air quality and energy efficiency, and identify areas that need to be sealed or insulated.Solar energy installations with high quality solar panels to generate renewable energy from the sun to power the home.

“We are thrilled to partner with Sparrow and together bring state-of-the-art solutions single-family homes deserve but often don’t have access to,” said Greg Fasullo, CEO of Elevation. “Our diverse set of energy products will bring residents financial savings and the ability to live in environmentally sound homes.”

According to a study published in the scientific journal PNAS, residential energy use accounts for 20% of the greenhouse gas emissions in the U.S. The partnership between Sparrow and Elevation will provide timely solutions to reduce the carbon footprint made by residential homes. To learn more about the partnership, please visit sparrownow.com or poweredbyelevation.com

About Sparrow
Sparrow is a vertically integrated national home rental company that owns and manages high quality single-family residential homes in 10 markets across the United States. Sparrow’s tech-enabled platform focuses on customer service excellence and is designed to provide a seamless living experience for its residents. With beautifully updated homes in prime neighborhoods, Sparrow has the perfect address for families looking to live easier and happier. For more information, please visit www.sparrownow.com.

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.

‍

The partnership has begun with the integration of solar energy into American Homes 4 Rent’s current and future amenity centers in its new single-family rental communities and will continue with the deployment of energy solutions in participating homes.

“As one of the top homebuilders in the nation, we continue to build the future of America responsibly, prioritizing durability and efficiency and implementing a strategy for managing our carbon footprint,” said Bryan Smith, Chief Operating Officer of American Homes 4 Rent. “This partnership with Elevation aims to reduce the environmental impact and energy costs for both American Homes 4 Rent and our residents, while aligning with our Environmental, Social and Governance (ESG) principles.”

Participating homes and amenity centers will benefit from solar energy, energy efficiency upgrades and smart energy technology that provides real-time, appliance-level consumption data.

“Our vision is to bring this proprietary combination of software and renewable technology to scale,” said Greg Fasullo, Chief Executive Officer of Elevation. “We see this as an incredible opportunity to make a real difference in how energy is being used at home. Historically, the rental market has not had access to energy solutions that can make a real impact, and we are excited to be the solution for this fast-growing market.”

This investment follows a June 2021 Series A and will support the expansion of the company’s proprietary clean energy technology platforms, which it currently provides for homeowners, to renters of single-family rental properties.

Rising home prices and stiff competition for affordable homes are driving demand for single-family rental homes across the country. This fast-growing market is also seeing demands from their savvy base of renters to provide smarter and more sustainable homes that help them control the rapidly increasing cost of electricity and provide alternatives to coal-burning grid power through renewable options like solar.

By leveraging its proprietary Curb energy management technology along with renewable solar energy, Elevation provides a way to bring lower cost, cleaner energy to renters through institutional single-family rental home operators.

“The single-family rental market is growing exponentially, and when that kind of scale is coupled with sustainable energy solutions, the impact is incredible,” said Greg Fasullo, CEO of Elevation. “With the implementation of our energy solution on just 1,000 homes, more than 8,400 metric tons of CO2 can be avoided. When that is scaled across tens of thousands of homes, entire coal-burning power plants can be replaced. This funding and our partnership with Bernhard Capital Partners will enable us to continue our reach into this large market and get closer to creating true net-zero carbon living.”

“Elevation is leading the way to cleaner energy in rental homes, and they have a unique approach that not only produces new energy through solar but also reduces the amount of energy needed in a home, offering more savings and impact,” said Jeffrey Koonce, a partner at Bernhard Capital. “Our investment in Elevation is an exciting opportunity for us to extend our footprint in infrastructure into clean energy and help drive impact at a large scale.”

The company also announced that Jeffrey Koonce will join Elevation’s Board of Directors.

CHANDLER, AZ —  a fully integrated residential energy solutions company, was selected as part of a U.S. Department of Energy project, in partnership with several of the nation’s leading utility and research companies to receive $6.65M to fund the deployment of distributed energy resources in 1,000 new and existing homes. This award is part of the $65M Connected Communities funding opportunity that seeks to expand DOE’s network of grid-interactive efficient building communities nationwide to optimize their energy consumption and substantially decrease carbon emissions and energy costs.

As part of this project, Elevation will partner with the nation’s leading utility, research, and residential teams to deploy a comprehensive mix of energy resources. Partners include: Duke Energy, Meritage Homes, Energy Hub, IBACOS, Tierra Resource Consultants, Energy and Environmental Economics (E3) and the National Renewable Energy Laboratory (NREL).

Known as the Advanced Clean Communities Collaborative (AC3), the team will deploy an integrated monitoring and control platform to optimize the energy use of distributed energy resource (DER) technologies to 1,000 single-family and multifamily homes. The DER technologies will provide 3.8MWs of aggregated flexible load within a single operating platform to serve the needs of Duke Energy’s North Carolina service area.

The primary goal for this DER technology deployment is to gather data on aggregated grid impacts and prove a model for delivering flexible distributed energy at scale, which reduces the amount of energy these homes require during periods of peak demand and reduces carbon emissions.

“Elevation is on a mission to change residential energy by not only deploying clean energy solutions but also deploying technologies that help utilities ensure resource adequacy and grid resiliency while transitioning to a zero-carbon future,” said Greg Fasullo, CEO of Elevation. “We are honored to be selected and to partner with this great group of leaders and look forward to deploying our grid resiliency solutions at scale in this pilot.”

For more information on the Connected Communities projects, visit https://www.energy.gov/articles/doe-invests-61-million-smart-buildings-accelerate-renewable-energy-adoption-and-grid.

“Elevation has a platform that delivers energy solutions at scale, which is especially relevant to institutional real estate operators who are looking for ways to offer environmental impact and energy savings across their portfolio of homes,” said Greg Fasullo, Chief Executive Officer of Elevation. “I’m looking forward to working with our advisors as Elevation continues on our journey to becoming the standard for smarter energy solutions in residential real estate.”

Fred Tuomi is a seasoned executive in single-family and multi-family REITs, having served as President, Chief Executive Officer, and Director of Invitation Homes, the nation’s largest single-family rental company. Mr. Tuomi scaled multiple real estate businesses and understands the distinct challenges they face in achieving ESG goals. “Elevation is uniquely positioned to serve the needs of the SFR industry unlike any other energy provider, providing an alternative green energy source, reduced consumption, lower occupancy costs for residents and ancillary revenue for owners.”

As President of Arizona homebuilder Maracay Homes, Andy Warren transformed the business into a homebuilding leader, and brings with him decades of residential real estate expertise. Under his leadership, Maracay became the largest producer of LEED-certified single-family homes in the nation. “ESG is critical to the next generation of homes, and Elevation has a measurable way to make a real impact.”

Sean Breuner has been launching and scaling companies in real estate and technology for more than 15 years. A career that has spanned Morgan Stanley, Heighten and AvantStay, Mr. Breuner has an undisputed understanding of how to leverage technology to deliver a truly unique experience. “Elevation’s ability to empower residents and owners with their own energy data, while saving money, is game changing.”

Jay McKee drove innovation in real estate through the founding of several successful companies including Lessen, GoodNight Stay, Vineyard Services, and Colony American Homes. Mr. McKee is an industry-wide leader in real estate services and provides a unique perspective on the operational needs within the SFR industry. “Not only does Elevation provide an energy service through solar energy, they offer value to other aspects of real estate operations.”

Elevation is a fully integrated residential energy solutions company providing solar, energy efficiency, and smart energy management technology.  As a 2019, 2020, and 2021 Contractor of the Year recipient by the U.S. Department of Energy, Elevation is a proven leader in clean energy technology, and sets the industry standard in its deployment of this technology to homeowners, institutional operators of single-family rental properties, and utility providers.

“Our employees are dedicated and have worked incredibly hard to be leaders in serving the communities in which Elevation serves,” said Clayton Andersen, CEO of Elevation Home Energy Solutions. “We are grateful and honored to once again be recognized with this award.”

“I salute the 2020 ENERGY STAR award winners,” said Anne Idsal, EPA Principal Deputy Assistant Administrator for Air and Radiation. “These leaders demonstrate how energy efficiency drives economic competitiveness in tandem with environmental protection.”

Home Performance with ENERGY STAR Contractor of the Year is awarded to Home Performance with ENERGY STAR participating contractors that exhibit outstanding professionalism, build strong customer relationships, and apply building science solutions to improve homes.

For a complete list of 2020 winners and more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners

‍

EHES will continue the commitment established by Elevation Solar to make switching to solar simple, and will carry its customer-centric approach to new services for utility and enterprise clients. This expanded scope allows the company to contribute solutions to help address the urgent issue of climate change by applying its integrated energy solutions on a broader scale.

“This shift represents the company’s evolution from a leading residential solar provider to a broad energy solutions provider that is addressing the diverse needs of utilities, enterprises and institutional property owners and operators,” said Greg Fasullo, CEO of Elevation Home Energy Solutions.

Impacts to large-scale enterprises, such as single-family residential operators, have the potential to be particularly significant. Elevation’s technology solutions will allow operators to realize significant savings by lowering energy costs across the board, while offering residents more control over energy use. As an added benefit, the EHES platform will help partners meet or exceed their environmental and sustainability objectives.

Additionally, the company announced that Erik Norwood has been promoted to Chief Technology Officer and Clayton Andersen has been appointed as President of the Solutions division. Norwood brings over a decade of experience as a former solar executive and Boeing rocket scientist, with a reputation for building products that push the boundaries of technology and successfully bringing them to market. Andersen has deep financial expertise and has served in leadership roles at Elevation since 2015, working to create innovative paths for clean energy development that will benefit customers, utilities, and the environment.

“Elevation will give customers more control over their energy use, and help our utility partners make the grid more responsive and resilient while embracing clean energy technologies to reduce their overall carbon footprint. Erik and Clayton have the experience and talent to translate our vision for the future into reality. I am inspired every day by our mission and our stellar team,” said Fasullo.

“We are truly honored to be recognized by the EPA for this prestigious award for the third year in a row,” said Greg Fasullo, CEO of Elevation. “We have dedicated ourselves to being the absolute best partners for our customers. From the family adding solar and storage to their first home, to institutional landlords seeking to scale solutions across their entire portfolio, to the utilities serving millions of people, we are always working to make homes more cost efficient and comfortable. We are grateful for once again being selected for this award, which recognizes that commitment.”

Home Performance with Sustained Excellence award winners are selected from a network of thousands of ENERGY STAR partners. Those recognized with the award represent the nation’s very best innovative and forward-looking companies that are dedicated to protecting the environment through superior energy efficiency achievements, while helping to create great jobs and a strong economic future.

“This recognition really belongs to our employees,” said Clayton Andersen, President of Elevation. “We have prided ourselves on hiring only the most knowledgeable professionals for our team, people that truly care about helping others get the most for their energy dollar. Without them, Elevation would never be one of the fastest growing home energy companies in America.”

‍