In this week’s news roundup, we discuss the growth of renewable energy in New York and a look into the future of smart panel technology.
Span secures $90M to make smart panels the gateway to home electrification
Smart panel manufacturer Span (a leading company in energy management) recently secured $90 million in a series B fundraising round. They hope to use this funding to improve on their products and to offer customers greater control over their electricity usage. Span’s current product offerings include the Span Panel, a smart electrical panel that allows users to monitor and control power flows between individual circuits in their home, and the Span Drive (recently launched in Fall 2021), a smart electric vehicle (EV) charger that can regulate when to pull from the grid and when to redirect electricity away from other appliances during times when fast charging is needed.
Prior to this fundraising round, Span announced partnerships with key companies in the solar industry like Sunrun, Tesla, SolarEdge, and LG Chem. They’re expected to announce additional partnerships and product updates in the coming months.
New York is the first state to surpass one GW of installed community solar
New York governor Kathy Hocul recently announced that New York has become the top state for community solar with more than one gigawatt (GW) of installed and operational capacity. Community solar made up more than 70 percent of solar installations in New York in 2021, and will play a significant role in the state’s goal of 10 GW of installed solar capacity by 2030.
Following the announcement, governor Hocul released the following statement:
Reaching this nation-leading milestone — with more than 1 GW of community solar installed — is a testament to New York’s aggressive pursuit of clean-energy alternatives that will supercharge our economy and bring us one step closer to a carbon-neutral future… New York is once again making clean energy history, and with many families facing the burden of rising energy costs, my administration remains committed to expanding access to solar energy, which will deliver savings and stabilize electricity bills while meeting our aggressive climate goals.
According to a recent market report by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, due to its successes with community solar, New York led the country in new solar installations in 2021 with more than double the new installed capacity of the next highest state.