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PowerMarket has raised $24.1M across 3 funding rounds.
Key people at PowerMarket.
PowerMarket has raised $24.1M in total across 3 funding rounds.
PowerMarket develops and operates a platform that facilitates access to community solar projects, enabling individuals and businesses to benefit from local clean energy generation without installing panels on their own property. Its core offering simplifies enrollment and management of subscriptions to distributed solar, wind, or hydro facilities, serving as an intermediary between renewable energy projects and end-users. The company leverages technology to streamline the administration and implementation of distributed generation programs for the energy sector.
The company was co-founded in 2016 by Nicholas Baudouin, Eric Ross Dahnke, and Chris Barrett. Their founding insight centered on democratizing access to renewable energy, recognizing the growing demand for clean power combined with barriers to rooftop solar adoption for many consumers. The founders aimed to build a system that connects local energy generation directly with consumers, making clean energy more accessible.
PowerMarket serves a diverse customer base, including residential consumers and small businesses seeking more affordable and sustainable energy options, as well as utilities, energy retailers, and solar developers requiring solutions for program management. Its overarching vision is to advance the clean energy transition by expanding participation in local renewable energy initiatives, fostering a future where clean, local, and affordable power is readily available to all.
PowerMarket has raised $24.1M across 3 funding rounds. Most recently, it raised $120K Seed in January 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2020 | $120K Seed | — | — | Announced |
| May 1, 2001 | $13M Series B | — | Global Innovation Fund | Announced |
| Dec 1, 1999 | $11M Series A | — | Global Innovation Fund | Announced |
Key people at PowerMarket.
PowerMarket is a SaaS platform that connects households, businesses, and organizations to local community solar projects, enabling access to clean, affordable renewable energy without rooftop installations.[1][2][4] It serves utility customers seeking bill savings and sustainability, solving barriers to solar adoption like high upfront costs, unsuitable rooftops, and maintenance by matching users to diverse local projects such as solar arrays and fuel cells.[1][4] The company prioritizes equity for lower- and moderate-income customers, has saved users millions on bills since 2017, and supports grid contributions from partner developers nationwide.[1]
Founded in 2015 in Brooklyn, NY, PowerMarket emerged with a mission to make clean, local, affordable electricity accessible to everyone, starting by connecting people to community energy projects.[1] The idea took shape amid growing demand for renewables, with the company's first billing cycles launching in 2017, marking early traction in billing accuracy and customer savings.[1] It has since expanded to work with renewable developers across the U.S., managing assets like solar panels and tracking environmental impacts such as coal avoidance and forest planting equivalents.[1]
PowerMarket rides the surge in community solar and renewable equity, fueled by policies expanding access to off-site solar for non-ideal rooftops and underserved groups.[1][4] Timing aligns with U.S. grid decarbonization goals, where local projects reduce transmission losses and boost resilience amid climate-driven energy demands.[1] Market forces like falling solar costs and utility programs favor it, as does its role in avoiding coal use and planting forest equivalents, influencing ecosystems by scaling clean energy participation and aiding developers/policymakers in optimization.[1][3]
PowerMarket is poised to expand as community solar markets grow, potentially deepening SaaS tools for trading and grid tech while targeting more utilities and international analogs.[2][3] Trends like AI-optimized energy matching and federal incentives will shape its path, evolving its influence from enrollment facilitator to key player in equitable decarbonization. This builds on its Brooklyn roots, powering a cleaner grid for all.[1]
PowerMarket has raised $24.1M in total across 3 funding rounds.
PowerMarket's investors include Global Innovation Fund.
