Palmetto
Palmetto is a consumer energy platform offering residential solar, HVAC, and battery storage subscriptions with no upfront costs, supported by an AI-driven Energy Intelligence platform. It serves homeowners directly and through a 2,000+ partner network across 31+ U.S. states.
- Company typePrivate
- Founded2010
- HeadquartersCharleston, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
Palmetto firmographics
Firmographics- Name
- Palmetto
- Legal name
- Palmetto Clean Technology, Palmetto Solar, LLC dba LightReach
- Website
- https://palmetto.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Palmetto is a consumer energy platform offering residential solar, HVAC, and battery storage subscriptions with no upfront costs, supported by an AI-driven Energy Intelligence platform. It serves homeowners directly and through a 2,000+ partner network across 31+ U.S. states.
- Ownership category
- akta.pro rank
Palmetto industry classification
Industry- Product category
- Residential Clean Energy Services
- NAICS
- Consumer Electronics and Appliances Rental (532210)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- DER Financing, Leasing & Billing Platforms (TPO, PPA, On-Bill) (EUAMAJAJ)
- akta.pro secondary industries
- Residential / Behind-the-Meter Storage Installation & Integration (EUAEAEAC), Residential Demand Response (Smart Thermostats, HVAC, Water Heating, Home Batteries) (EUAFAGAA), Heat Pump & Smart HVAC Controller Integration (HSAOANAD)
Keywords
Where Palmetto is headquartered
LocationHeadquarters
- HQ city
- Charleston
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Palmetto business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Residential Solar Subscriptions (LightReach): Palmetto owns residential solar systems and charges homeowners monthly subscription fees (25-year terms) covering equipment, installation, maintenance, and performance guarantees. This is the primary recurring revenue stream.
- HVAC Subscriptions (Comfort Plan): Monthly subscription plans for heat pump/HVAC systems covering equipment, installation, maintenance, and repairs. Terms of 10-12 years with recurring monthly payments.
- Asset-Backed Securitization (ABS): Palmetto securitizes its residential solar PPAs and leases into asset-backed securities sold to institutional investors. Completed $420M ABS transaction in 2025, bringing year-to-date ABS issuance to over $716M.
- Investment Tax Credit (ITC) Transfers: Palmetto purchases Investment Tax Credits from solar/storage projects and sells them to Fortune 500/1000 corporations. Completed $300M ITC transfer and $250M ITC purchase transactions.
- Solar Financing (Loans): Partner lending options for homeowners who prefer to own solar systems outright. Loans range from 5-25 year terms with APRs from 4.49% to 11.99%.
- Battery Rewards / Grid Programs: Battery Rewards Plans pay homeowners $4 monthly credit per kW of installed storage capacity ($40-$100+ monthly) for participating in grid balancing programs. Clean Energy Buyback Plans offer export credits for excess solar sent to grid.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | LightReach Solar Subscription - $0 down, 25-year term |
| Subscription | Monthly | Comfort Plan HVAC - $0 down, 10-12 year terms |
| One time/ perpetual license | Multi-year contract | Cash Purchase - Three upfront payments before activation |
| Subscription | Monthly | Solar Loan - Monthly payments, 5-25 year terms |
| Usage-based | Monthly | Battery Rewards Plan |
| Subscription | Multi-year contract | Energy Storage (Battery) - Standalone 12-year subscription |
| Freemium | Pay-as-you-go | Rewards Program - Earn up to $5,000 |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Palmetto product offering
Product offeringCore offering
Palmetto operates a consumer energy platform that sells residential solar, HVAC, and battery storage systems through subscription-based products (LightReach solar, Comfort Plan HVAC) and direct ownership. The company owns the equipment under third-party ownership (TPO) models, providing installation, maintenance, and performance guarantees via a network of certified installers and dealers. Its proprietary Energy Intelligence platform uses AI and machine learning to model home energy footprints and generate optimized upgrade recommendations.
Product overview
Palmetto is America's leading consumer energy platform offering a comprehensive portfolio of residential clean energy products and enterprise tools. The core consumer offerings include LightReach Solar (third-party ownership solar subscriptions), Palmetto Comfort Plan (HVAC/heat pump leasing), Energy Storage/Battery Backup, and Palmetto Grid+ (utility rate plans). Supporting these are the Palmetto App and Rewards Program for consumer engagement, plus a Marketplace for discounted home products. For enterprise partners, Palmetto provides the Energy Intelligence API, Instant Design, and Multi-Product Quotes tools that use AI and machine learning to model home energy profiles and generate optimized upgrade proposals. The LightReach Partner Networks (Solar and HVAC) extend these capabilities to certified installers and dealers. In late 2025, Palmetto acquired The Cool Down, a clean-lifestyle media platform, to strengthen consumer education and engagement.
Differentiator
Problem solved
Functional benefit
Brands
- LightReach: Palmetto's solar subscription program (Energy Plan) that allows homeowners to go solar with no upfront costs, paying fixed monthly fees while Palmetto owns and maintains the system for 25 years.
- Comfort Plan
- Palmetto Energy Intelligence API
Products and services
- LightReach Solar A third-party ownership (TPO) solar subscription program allowing homeowners to install rooftop solar panels with no upfront cost. Palmetto owns and maintains the equipment for up to 25 years while customers pay a fixed monthly fee lower than their utility bills, with free maintenance and 90% performance guarantees included.
- Palmetto Comfort Plan A subscription service for HVAC and heat pump systems offering $0 upfront costs with monthly payments covering equipment, installation, maintenance, and repairs for 10-12 years. Dealers receive recurring service revenue while homeowners get premium equipment with guaranteed comfort.
- Energy Storage / Battery Backup Residential battery storage systems providing 24/7 power backup during grid outages, off-peak energy savings by storing cheap power for peak hours, and grid resilience. Available as standalone storage or bundled with solar subscriptions.
- Palmetto Grid+ (Utility Rate Plans) Clean energy buyback plans providing 100% renewable grid power for homes. Includes buyback credits for excess solar export and Battery Rewards Plans earning approximately $480-$1,300 annually for battery storage participation.
- Energy Intelligence API A developer API providing granular household energy footprint data at hourly intervals, disaggregated to end use. Enables baselines, hypothetical scenarios, device-level consumption tracking, and bill/savings projections. Integrates with rates, tariffs, and carbon emissions data with free access up to 500 hits/month.
- Instant Design Award-winning solar design technology that generates optimized panel placement designs and system estimates in under a minute. Creates visually compelling proposals showing environmental impact and energy savings, accepted by top national financiers.
- Multi-Product Quotes Enterprise tool generating comprehensive digital twins of households and simulating solar production and clean energy upgrade impacts. Enables product bundling from HVAC to solar in a single workflow for sales teams.
- Palmetto Rewards Program A gamified rewards ecosystem where users earn points through energy-saving actions, referrals, marketplace engagement, and quizzes. Rewards can be redeemed for discounts on 25+ products in the Palmetto Marketplace, with potential savings exceeding $5,000.
Quantifiable outcome
- Up to 20% reduction in monthly energy spend
- +5 more outcomes
Companies that use Palmetto
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Palmetto technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability8 records
Feature5 records
Palmetto partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and flagship.
- QuiltcorePartnership to offer Quilt's ductless heat pump systems through Palmetto's Comfort Plan, eliminating $15,000+ upfront installation costs in favor of fixed monthly payments covering equipment, installation, maintenance, and repairs. Systems are 20% more efficient than typical ductless heat pumps, available in 34 U.S. states.
- SUNation EnergycoreStrategic financing agreement to offer LightReach lease and power purchase agreement (PPA) options for residential solar projects beginning in 2026. Partnership designed to expand customer access and improve project economics.
- EnerflocoreLaunched Palmetto Energy Backup - the first battery-only lease (TPO) product fully integrated into the Enerflo platform. Enables residential solar installers to sell standalone backup energy storage without requiring upfront payment. Integration built into proposal and financing engine.
- SunPowercoreStrategic initiative with The Cool Down, Palmetto, and Enphase Energy to make home battery storage affordable across 45 states. SunPower handles installation and 15 years of ongoing support; combines The Cool Down's audience, Palmetto's LightReach financing, and Enphase's IQ Battery 10C.
- Enphase EnergycorePartner in SunPower battery storage initiative providing IQ Battery 10C technology for Palmetto-financed home energy storage across 45 states.
- The Cool DownflagshipPalmetto acquired The Cool Down, a clean-lifestyle media platform, to enhance its consumer energy platform and expand reach in the clean energy sector. The acquisition supports rapid growth in clean energy.
- Shane Battier (Chief Culture Advisor)coreFormer NBA player and clean energy advocate appointed as Chief Culture Advisor to support company's mission and culture development.
- Zen Air Heating and CoolingcoreHVAC dealer partner using Comfort Plan to deliver premium equipment with zero upfront cost to customers, predictable monthly payments, and bundled maintenance. Featured in Palmetto dealer case studies.
Scale indicators12 records
Recent moves7 records
Expansion highlights7 records
Palmetto competitors and assessment
Company assessmentDirect peers
- Sunrun: Largest US residential solar subscription (PPA/lease) company. Most directly comparable to Palmetto on TPO model, customer base (US homeowners), and long-term recurring-revenue structure.
- SunPower: Residential solar and battery installer with national US coverage; existing Palmetto channel partner on the SunPower battery storage initiative. Comparable on customer profile and product mix.
- Mosaic: Solar and home improvement financing platform for US homeowners and installers. Comparable to Palmetto's loan/PPA financing layer and channel-based origination model.
Broad incumbents
- Tesla Energy: Integrated solar roof, retrofit solar, and Powerwall battery offering from Tesla. Comparable on US residential solar+battery stack but broader EV/automotive ecosystem and very different scale.
- Enphase Energy: Leading US microinverter and home battery (IQ Battery) manufacturer; existing Palmetto technology partner. Comparable on enabling US residential solar+battery economics but operates upstream as an OEM.
Emerging players
- FranklinWH Energy Storage: Residential battery storage provider participating in Palmetto-led grid programs (SRP, APS). Comparable on the US behind-the-meter storage category and grid-services participation.
- Arcadia: Clean energy data platform connecting utilities, developers, and consumers; operates community solar and energy data APIs. Comparable to Palmetto on consumer-facing clean energy data and community-solar offerings.
- EnergySage: Online solar and home-improvement marketplace connecting homeowners with vetted installers. Comparable to Palmetto's marketplace and installer-channel motions in the US residential solar category.
- Quilt: Ductless heat pump manufacturer and Comfort Plan product partner. Comparable on residential electrification category and subscription go-to-market via Palmetto.
Others
- Generate Capital: Sustainable infrastructure financier co-founded by Jigar Shah (now Palmetto advisor). Comparable as a capital partner and infrastructure-finance model underpinning residential clean-energy deployment.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Palmetto social profiles
Digital presencePalmetto compliance and trust
Trust signalCompliance4 records
Palmetto financial estimates
Financial estimateRevenue estimate
Valuation estimate
Palmetto leadership team
Management profileNumber of profiles
Profiles10 records
Palmetto subsidiaries and ownership
Company hierarchySubsidiaries1 record
Palmetto funding detail
Funding detailFunding overview
Funding rounds13 records
Investors22 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Palmetto M&A and investment
M&A and investmentM&A1 record
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Palmetto
What does Palmetto do?
Palmetto operates a consumer energy platform that sells residential solar, HVAC, and battery storage systems through subscription-based products (LightReach solar, Comfort Plan HVAC) and direct ownership. The company owns the equipment under third-party ownership (TPO) models, providing installation, maintenance, and performance guarantees via a network of certified installers and dealers. Its proprietary Energy Intelligence platform uses AI and machine learning to model home energy footprints and generate optimized upgrade recommendations.
Is Palmetto a public or private company?
Palmetto is a private company. It is classified as venture growth investor backed and is currently operating.
When was Palmetto founded?
Palmetto was founded in 2010. It employs 251 to 500 people.
Where is Palmetto based?
Palmetto is headquartered in Charleston, United States, in the North America region.
How does Palmetto make money?
Six revenue lines are on record. Residential Solar Subscriptions (LightReach) is the primary driver. The others are HVAC Subscriptions (Comfort Plan), asset-Backed Securitization (ABS), investment Tax Credit (ITC) Transfers, solar Financing (Loans) and battery Rewards / Grid Programs.
Who are Palmetto's main competitors?
Direct peers on record are Sunrun, SunPower and Mosaic. Broad incumbents are Tesla Energy and Enphase Energy. Emerging players are FranklinWH Energy Storage, Arcadia, EnergySage and Quilt. Generate Capital is listed as an others.
Does Palmetto have an API?
Yes. Palmetto's Energy Intelligence API provides household energy footprint data at hourly granularity, disaggregated to end use. The API supports use cases including baselines and hypothetical scenarios for any home, device-level consumption and production tracking, and bill size/savings/climate impact projections. Integrations with rates, tariffs, and carbon emissions data enable accurate utility cost estimates and forecasted savings from energy upgrades. The API is developer-friendly with interactive documentation, quick-start recipes, and free usage up to 500 API hits per month. The platform uses machine learning models and physics-based simulations to create digital twins of homes, predicting hourly energy consumption and evaluating upgrade scenarios. Developer documentation is at ei.palmetto.com/static/index.html.
What industry is Palmetto in?
Palmetto's product category is Residential Clean Energy Services. Its primary akta.pro industry code is EUAMAJAJ, DER Financing, Leasing & Billing Platforms (TPO, PPA, On-Bill), with a secondary code of EUAEAEAC, Residential / Behind-the-Meter Storage Installation & Integration. Its NAICS code is 532210 and its SIC code is 4991.