Swell Energy

What Swell Energy does

Swell Energy is a Santa Monica-based virtual power plant (VPP) operator that aggregates distributed solar and battery storage assets at homes and businesses into utility-grade grid resources. The company is built on three proprietary software platforms: GridAmp, a Distributed Energy Resource Management System (DERMS) that forecasts, optimizes, and dispatches DER fleets across multiple grid services (capacity build/reduction, renewable balancing, fast frequency response, ancillary services); Wave, a sales and project management portal for installer partners including a GIS-based lead-generation tool called MarketTracer; and Compass, a customer engagement application for installation tracking, payments, and grid-participation earnings. Swell partners with Tesla as a large certified Powerwall installer and, via the November 2023 Shifted Energy partnership, extends its DERMS scope to household loads such as water heaters, thermostats, pool pumps, EV chargers, and smart appliances.

Name

Swell Energy

Legal name

Swell Energy Inc.

Website

https://swellenergy.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Swell Energy is a Santa Monica-based virtual power plant operator that aggregates distributed solar and home battery storage into grid services for utilities, serving homeowners, businesses, and utility partners across Hawaii, California, New York, and the Southeast US.

Ownership category

akta.pro rank

Product category

Virtual Power Plant Services

NAICS

Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

DER Aggregation & Virtual Power Plants (VPPs) (EUAMAJAC)

akta.pro secondary industries

Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR) (EUAGABAI), Ancillary Services Aggregation & Bidding Optimization (DER/VPP participation) (EUAFALAJ), Telemetry, Metering & Measurement & Verification (M&V) for Flexibility (EUAFAHAJ), Aggregator-as-a-Service & White-Label VPP Programs (Retailers, OEMs, Utilities) (EUAFAHAK), Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD), DER Financing, Contracting & Program Management (PPAs, Shared Savings, Performance) (EUAFAHAL), Distributed Storage (Behind-the-Meter Batteries) (EUAMAJAE)

Keywords

• Virtual power plants
• Distributed energy resources
• Home battery storage
• Grid services software
• Solar energy management

Headquarters

HQ city

Santa Monica

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Virtual Power Plant Grid Services: Swell Energy generates revenue by aggregating distributed energy resources (solar + storage) into virtual power plants that provide grid services including capacity building, capacity reduction, renewable energy balancing, fast frequency response, and ancillary services. Revenue comes from utility payments for these grid services, with value stacking enabling multiple revenue streams from a single DER fleet.
2. Solar + Storage Financing: Swell provides $0 down financing options or low fixed monthly payment structures for homeowners and businesses to purchase solar and battery storage systems. Revenue is generated through financing arrangements, likely with interest or fees built into the financing terms.
3. Installation Services: Swell partners with trusted local solar and solar+storage companies for seamless, high-quality installations. Revenue is generated through installation fees and ongoing service agreements that include backup power service, remote monitoring, reporting and alerts, incentive compliance, and maintenance support.
4. Software Platform Services: Swell offers its Compass platform as a free customer engagement tool, but generates value through DER aggregation for grid services. The Wave platform serves installer partners with project management capabilities.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Swell Energy deploys and aggregates distributed energy resources (solar + battery storage) at homes and businesses into virtual power plants that deliver grid services to utilities. The company operates three proprietary software platforms—GridAmp (DERMS), Wave (sales/fulfillment), and Compass (customer engagement)—and combines them with an installer partner network, direct-to-consumer financing ($0 down or fixed monthly payments), and utility co-developed VPP programs across Hawaii, California, New York, and the Southeast U.S.

Product overview

Swell Energy offers a unified smart grid solutions platform built on three proprietary software products—GridAmp (DERMS), Wave (sales/fulfillment), and Compass (customer engagement)—that work in tandem to deploy and aggregate distributed energy resources into virtual power plants. The platform enables homeowners and businesses to achieve energy security through solar and battery storage while participating in grid services. Swell's technology stack integrates AI and machine learning for real-time DER optimization and forecasting, supporting multiple battery partners including Tesla Powerwall and offering financing options ($0 down or fixed monthly payments) alongside VPP programs across utility territories in Hawaii, California, and New York. Following the February 2024 acquisition of Renu Energy Solutions, Swell expanded its footprint to the Southeast and mid-Atlantic regions.

Differentiator

Problem solved

Functional benefit

Brands

• Compass: Award-winning energy control platform for consumers to monitor, report and optimize energy use, with interface to utilities for grid monetization.
• GridAmp
• Wave
• GridRevenue
• GridSavings

Products and services

• GridAmp Distributed Energy Resource Management System (DERMS) that forecasts, aggregates, optimizes, and dispatches storage assets for grid services. Uses AI and machine learning to co-optimize fleets of DERs (solar + battery) for multiple grid services including capacity build, capacity reduction, renewable balancing, fast frequency response, and ancillary services. Provides secure device connectivity, telemetry, and value stacking for utilities and customers.
• Wave Sales and project management portal for DER installer partners. Manages the full customer lifecycle including integrated partner proposals, digital contracts, incentive-based pricing, quote generation, project execution tracking, and VPP program enrollment. Includes MarketTracer, a GIS-based market analytics and lead generation tool.
• Compass Customer-facing energy control platform for monitoring, reporting, and optimizing energy systems. Interfaces with connected energy devices and with utilities to monetize excess capacity. Allows customers to track installation status, make payments, manage services, access documentation, and receive GridRevenue payments for grid participation.
• Virtual Power Plants (VPP) Core service offering that networks together distributed solar and battery storage at homes and businesses to form virtual power plants delivering grid services to utilities. Provides participating customers with backup power, time-of-use optimization, solar self-consumption, GridSavings bill optimization, and GridRevenue earnings through VPP programs. Deployed in Hawaiian Electric, SMUD, California utility, and other service territories.
• Home Battery Rewards Program Utility-partnered program (Hawaii: Hawaiian Electric across Oahu, Maui, and Big Island) that pays customers for allowing Swell to manage their battery for grid services. Earnings up to $3,480 (Maui) or $3,240 (Big Island) credited against monthly electric bills; California equivalents exist through SMUD's My Energy Optimizer Partner+ Program.
• Renu Energy Solutions (Solar + Storage Installations) Residential and commercial solar and energy storage installation service operating across North Carolina, South Carolina, and Georgia. Founded 2010 with over 5,000 completed installations. Includes Sun Service Specialists subsidiary providing maintenance services to both Renu and non-Renu customers across the East Coast.

Quantifiable outcome

• Up to $3,480 in annual earnings through Home Battery Rewards Program (Hawaii)
• +4 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core, major and supporting.

• Renu Energy SolutionscoreChannel Partner/ Reseller/ Distributor · 7 February 2024Acquired in February 2024 to expand VPP footprint to Southeast and mid-Atlantic markets. Renu brings 5,000+ solar installations since 2010, full-service in-house team, and regional hub for Swell's channel partner program. Includes Sun Service Specialists for maintenance services across the East Coast.
• Shifted EnergycoreStrategic or Co-development Partner · 7 November 2023Strategic alliance and digital partnership merging Grid Maestro (Shifted's DERMS for household load management) with GridAmp (Swell's DERMS for solar/storage) into a comprehensive turnkey VPP platform. Partnership enables utilities to manage diverse DER assets in a synchronized manner. Combined capabilities deliver enhanced energy savings and GridRevenue to households. VPP contracts span progressive utilities in the US and Canada.
• Hawaiian ElectriccoreStrategic or Co-development PartnerPartnership for Home Battery Rewards Program across Hawaiian Electric's service territory (Oahu, Maui, Hawaii Island). Supports Hawaii's 100% renewable energy goal through VPP aggregation of home batteries.
• SMUD (Sacramento Municipal Utility District)majorStrategic or Co-development PartnerPartnership for My Energy Optimizer Partner+ Program in the Sacramento Area, enabling residential participation in capacity bidding programs and grid services.
• Sun Service SpecialistssupportingImplementation/ SI/ Consulting PartnerRenu Energy Solutions' solar and ESS service subsidiary acquired with Renu, providing maintenance services to both Renu and non-Renu customers across the East Coast, ensuring performance and longevity of distributed energy resources.
• HECO (Hawaiian Electric)coreStrategic or Co-development PartnerHome Battery Rewards Program partner requiring customers to unenroll from HECO's 'Energy Scout' Program to participate in Swell's VPP program.

Scale indicators9 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• Sunrun: Sunrun is the largest US residential solar, storage, and energy services company with growing VPP ambitions through its Grid Services program. Directly competes with Swell in residential solar + battery installations and in aggregating DERs for utility grid services.
• Tesla Energy: Tesla Energy offers Powerwall home batteries and operates its own VPP via the Autobidder platform, aggregating customer batteries for utility grid services. Competes directly with Swell both as a hardware supplier and as an aggregator, creating channel conflict risk.
• Sunnova Energy: Sunnova provides residential solar and storage services with a growing Sunnova Grid Services offering that aggregates customer DERs for grid services. Direct competitor to Swell in residential solar + storage + VPP value proposition.
• OhmConnect: OhmConnect (now part of Lunar Energy) operates a residential demand response and VPP platform that pays customers to reduce energy consumption during grid stress events. Direct competitor in the residential grid services aggregation space.

Broad incumbents

• Enphase Energy: Enphase is a dominant residential energy technology company offering microinverters, batteries (IQ Battery), and energy management software. Its IQ8 and Ensemble platforms enable home energy systems and could expand into VPP aggregation, competing with Swell's integrated offering.
• Stem Inc: Stem is a global AI-driven clean energy solutions company focused on commercial and industrial (C&I) customers and VPP operations through its Athena platform. Comparable in VPP aggregation software capabilities though focused on larger C&I customers rather than residential.
• AutoGrid: AutoGrid provides DERMS software that forecasts, optimizes, and dispatches distributed energy resources for utilities and energy retailers. Comparable to Swell's GridAmp platform in DER aggregation and optimization, serving utility customers.
• Uplight: Uplight provides energy management solutions to utilities, including customer engagement, DER management, and grid optimization. Comparable to Swell's platform stack serving utility customers for distributed energy resource programs.
• GridPoint: GridPoint provides energy management and DERMS software for commercial buildings and DER aggregation. Comparable DERMS and optimization capabilities to Swell's GridAmp, with focus on commercial rather than residential segments.

Emerging players

• Span.IO: Span.IO develops smart electrical panels that enable whole-home energy management and DER orchestration. Adjacent technology to Swell's VPP platform with potential to either complement or compete in residential DER control.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/swell_energy
• Facebookfacebook.com/swellenergy
• LinkedInlinkedin.com/company/swell-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Swell Energy