May 26, 2023
ConnectDER has quick connection adapter that may make houses solar and EV prepared whereas avoiding dearer panel upgrades — no matter a home’s age or amperage limits. This innovation simply netted a $27 million Series C funding spherical.
According to a 2021 research, prohibitively costly service panel upgrades are regularly required to help the extra energy demand of recent, DER merchandise like solar panels, EVs, warmth pumps, and different good home equipment, representing a $100 billion obstacle to residential electrification and the energy transition. ConnectDER’s modern meter adapter platform helps bridge that hole, particularly for underserved populations that extra regularly reside in older, underpowered houses.
ConnectDER’s meter collar expertise gives a low-cost, one-hour set up in a single system for upgrading residential electrical power programs with out upgrades to circuit-breaker panels or in-home wiring or including extra amperage from the utility firm. Already working in 17 states, together with New York, Arizona, Vermont and Colorado, ConnectDER has deployed over 15,000 models nationally thus far.
Led by Energy Innovation Capital (EIC), the funding spherical consists of new participation from LG Technology Ventures, Evergy Ventures, Riverstone, and present traders Skyview Ventures, Clean Energy Ventures, and Avista Development, amongst others. The funding might be used to scale up ConnectDER’s present solar adapter into new markets, launch a brand new EV product line and develop a next-generation product suite for multi-asset electrification and integration.
“Increasing home electrification is a powerful trend driven by solar, storage, EV charging, and electrification of other home appliances,” said EIC Senior Managing Director, Rajan Gupta, will be part of the ConnectDER Board. “ConnectDER’s meter adapter packs in functionality right behind the electric meter, and dramatically reduces the cost and time for residential customers to adopt electrical solutions. We are thrilled to partner with the ConnectDER team on its journey to enable faster and cheaper electrification and decarbonization for the residential mass market.”
ConnectDER’s product can be well-positioned and might be optimized to supply straightforward connections for electrical automobile chargers and backup power programs within the close to future. In truth, ConnectDER is supplying Siemens with a proprietary plug-in adapter for electrical automobile chargers. The new system will allow electrical automobile (EV) house owners to cost EVs by connecting chargers instantly by way of the meter socket, a handy and environment friendly location accessible on each home. By bypassing a home’s electrical service panel, the adapter will save an estimated 60 to 80 p.c of the charger set up value by avoiding the necessity for electrical panel upgrades.
By permitting for a easy, 15-minute EV charger set up, the expertise eliminates the necessity for complicated and prohibitively costly installations. Nearly half of US home panels would wish upgrades to permit the set up of a typical Level 2 charger, usually a 7-11kW system requiring 40-60 Amps on a 240V line. This is a significant roadblock for EV adoption, particularly for low-and moderate-income householders. The adapter might be provided completely by way of Siemens.
“Siemens invests in initiatives that help the world embrace electrified transportation, and we are pleased to partner with ConnectDER on this important effort,” mentioned Chris King, senior vp of strategic partnerships, Siemens. “While the EV industry continues to show explosive growth, to meet critical net-zero carbon emission goals like we have at Siemens, we must remove obstacles to broader adoption. ConnectDER’s innovative solution to simplify home EV charging helps overcome these challenges and we are excited to work with its team to rapidly roll out this product.”
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Tags: ConnectDER, EV charging