Startups that are taking a holistic approach to making homes greener are coming out of the woodwork this week. We profiled Sustainable Spaces on Monday, and a Houston, Texas-based startup called Standard Renewable Energy, which sells green building solutions like solar PV for homes and businesses, just told us it’s raised $15 million.
Adding green options to homes — solar PV, solar thermal water heaters, spray foam insulation — will continue to be a growing business. There’s a high demand from consumers and business-owners who want to lower energy costs and feel good about doing their part for climate change. And more and more startups like Standard Renewable Energy are emerging to meet that demand.
That’s also why the incentives from local, state and federal programs are so important. Companies like SolarCity are tapping into the federal investment tax credit (ITC) to bring down the cost of solar through leasing programs. So it’s also particularly important for us to make sure these programs don’t end up playing the waiting game.
Standard Renewable Energy raised the $15 million in two rounds: an $8 million Series A round led by private equity fund SREG and a $7 million Series B, which was led by The Quercus Trust (well-known investor David Gelbaum’s cleantech fund). The company says its funding will help it expand outside of the four states it currently works in: Texas, Colorado, Oklahoma and Louisiana.
Interestingly, the company also added the CEO of energy management firm GridPoint, Peter Corsell, to its Board, which makes us wonder about potential ways those two companies could work together: management of the power grid by utilizing the green energy systems of our homes and businesses? GridPoint did just start talking about using plug-in electric vehicles and smart charging.