Common Energy Receives $16.5Mn Investment from S2G Ventures

New York-based solar provider Common Energy announced a $16.5 million investment by S2G Ventures, the direct investment team of Builders Vision, an impact platform committed to building a humane and healthy planet.

“Renewable energy is the foundation for solving global climate change because abundant clean electricity enables all other decarbonization solutions,” said Richard Keiser, CEO and Founder, Common Energy. “This investment will enable Common Energy to accelerate our efforts to bring clean energy to more households and communities across the country, and to further reduce greenhouse gas emissions.”

The new round of capital will be utilized to enhance consumer access to local, community solar projects across the country, scale Common Energy’s industry-leading energy management platform, and grow the company’s management and operating teams.

“Community solar is an important option for broadening access to clean and cost-effective renewable energy across the US, and we are excited to be supporting the Common Energy team as they deploy their sophisticated platform to accelerate adoption of this resource,” said Dr. Francis O’Sullivan, Managing Director, S2G Ventures.

For project owners, Common Energy’s platform is a sophisticated, cloud-based SAAS that enables them to manage and monetize complex, multi-tenant distributed generation projects. Common Energy’s software platform provides industry-leading financial and collections visibility, resulting in higher project ROI for its clients, and can be customized to facilitate reporting and accounting.

“Community solar plays a valuable part in the United States' national energy strategy because it advances clean energy deployment in a way that allows many households to promote solar energy while reducing energy costs,” said Dr. Ernest Moniz, U.S. Secretary of Energy under President Obama and Common Energy advisor.

The U.S. community solar market is expected to maintain its rapid growth. In 2021, U.S. Energy Secretary Granholm declared a national goal of establishing enough community solar capacity to power 5 million American homes by 2025, indicating over 600% market growth.