What Ivy Energy does

Ivy Energy, Inc. is a San Diego-based, venture-backed SaaS company that provides a multifamily solar billing and energy asset management platform. Founded in 2018, Ivy's core offering is the patented Virtual Grid platform, which models complex metering configurations (master-metered, sub-metered, multi-meter, hybrid), tariff rules, and billing structures to allocate onsite solar and EV charging energy value at the unit level and convert resident energy usage into recurring Net Operating Income (NOI) for property owners. The platform claims 99.9% billing accuracy and operates under SOC 2-compliant practices.

Ivy's product suite centers on the Virtual Grid allocation engine and Automated Solar Billing, augmented by 2025 next-generation modules — Atomic Billing (per-unit independent bill generation), Adaptive Billing (dynamic adjustment to real-world utility data), and the One Billing Framework for national multi-utility deployment. Supporting modules include IvyDual (California VNEM 3.0 billing) and Ivy SunRate (flexible nationwide DER billing), plus a 2025 Public API for partner integrations. The platform integrates natively with the three dominant multifamily property management systems — Yardi, RealPage, and Entrata — and with Conservice, enabling automated rent ledger posting, billing workflows, and portfolio-level NOI and ESG reporting.

The company operates a subscription-based per-unit SaaS model at approximately $8/unit/month, plus a share of the NOI spread between gross owner revenue and platform costs. Its go-to-market is sales-led enterprise field sales targeting multifamily property owners, REITs, solar developers, and installers, with channel partnerships for solar installation referrals. Ivy currently serves 400+ communities and 50,000+ residents across California, Massachusetts, Colorado, and New York. Named customers include Greystar, Essex, AvalonBay, Rexford, HG Fenton, and Kire Builders. The company closed an $18 million Series A in April 2024 led by SolarEdge Technologies.

Name

Ivy Energy

Legal name

Ivy Energy, Inc.

Website

https://ivy-energy.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Ivy Energy provides a patented SaaS platform that automates tenant-level solar and EV billing for multifamily properties, converting onsite energy generation into recurring Net Operating Income for property owners and REITs.

Ownership category

akta.pro rank

Product category

Multifamily Solar Billing Software

NAICS

Electric Power Transmission, Control, and Distribution (22112), Electric Power Distribution (221122), Electric Power Generation, Transmission and Distribution (2211)

SIC

Services-Computer Integrated Systems Design (7373), Electric Services (4911)

akta.pro primary industry

Community Choice Aggregation (CCA) & Local Retail Supply Programs (EUAMAJAI)

akta.pro secondary industries

EV Charging as DER (Managed Charging, V2G/V2B) (EUAMAJAL), Interoperability, Protocols & Standards (OCPP, ISO 15118, OCPI, OpenADR) (EUAFAMAH)

Keywords

• Multifamily solar billing
• Solar billing software
• Tenant energy allocation
• EV charging billing
• Property energy management

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Solar Billing Software Platform: Subscription-based SaaS platform fee for multifamily solar billing and energy management. Property owners pay a platform fee per unit per month ($8.00/unit/mo mentioned in simulator) to access Virtual Grid allocation, billing automation, tenant support, and reporting. Revenue is recurring and scales with property/unit count.
2. NOI Generation Services: The platform enables property owners to generate recurring Net Operating Income from tenant-serving solar programs. The platform handles the financial reconciliation between utility payments, tenant savings, and owner NOI, taking a platform fee from the gross owner revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels9 records

Core offering

Ivy Energy provides a patented Virtual Grid software platform that automates tenant-level solar and EV charging billing for multifamily properties, converting onsite energy generation into predictable Net Operating Income (NOI) for property owners and operators. The platform handles complex tariff math, multiple metering configurations, time-of-use calculations, statement generation, and audit-ready reporting, and is delivered with turnkey tenant onboarding, communications, and dedicated support.

Product overview

Ivy Energy offers a unified multifamily solar billing and energy asset management platform centered on the patented Virtual Grid™ platform. The core offering combines Automated Solar Billing with next-generation Atomic Billing and Adaptive Billing engines, One Billing Framework for national scalability, and Program Operations & Support services. Supporting products include the NOI Simulator for revenue modeling, IvyDual (for California VNEM 3.0), Ivy SunRate (flexible DER billing nationwide), the Public Ivy API, and the Owner's Guide resource. The platform integrates with major property management systems (Yardi, RealPage, Entrata, Conservice) to enable automated billing, tenant-level allocation, rent ledger posting, and portfolio-level NOI and ESG reporting.

Differentiator

Problem solved

Functional benefit

Brands

• Virtual Grid: Patented platform architecture that models complex metering configurations, tariff rules, and billing structures to allocate onsite energy value accurately across tenants and owners.
• Atomic Billing
• Adaptive Billing
• IvyDual
• Ivy SunRate

Products and services

• Virtual Grid Platform Ivy's patented core platform architecture that models complex metering configurations, tariff rules, and billing structures to allocate onsite solar and EV charging energy value accurately across tenants and owners. Powers automated billing, allocation, statement generation, and reporting for multifamily property owners and operators.
• NOI Simulator Online self-service modeling tool that demonstrates how multifamily solar value becomes measurable owner NOI, allowing portfolio managers to estimate revenue potential based on utility territory, billing model, metering setup, unit count, and participation rates.
• IvyDual DER billing solution designed for California's VNEM 3.0 policy, enabling multi-tenant properties to capture and allocate benefits under updated virtual net metering rules.
• Ivy SunRate Flexible DER billing solution that adapts to market-specific rules nationwide, enabling distributed energy resource billing across different regulatory environments outside California.
• Ivy Public API Public API providing programmatic access to Ivy's platform data for partners and customers, enabling ecosystem expansion, custom integrations, and automation of platform workflows.
• Program Operations & Support Turnkey solar and EV program operations including portfolio-wide rollout framework, tenant onboarding and communications, utility data coordination, and dedicated support team delivered alongside the platform.
• Yardi PMS Integration Native integration with the Yardi property management system, enabling automated data flow, rent ledger posting, and billing workflow automation for properties using Yardi.

Quantifiable outcome

• $576.67 per unit annual NOI (illustrative example with 250 units, 80% participation)
• +7 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability4 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• YardicoreTechnology or IntegrationNative platform integration with Yardi property management system. Fully delivered in 2025, unlocking smoother workflows and deeper alignment with property management operations for automated billing and data synchronization.
• RealPagecoreTechnology or IntegrationNative platform integration with RealPage property management system. Enables automated billing workflows and data synchronization for properties using RealPage for operations.
• EntratacoreTechnology or IntegrationNative platform integration with Entrata property management system. Completes the major PMS integration ecosystem, enabling automated billing workflows across platforms.
• AvalonBay CommunitiesflagshipStrategic or Co-development PartnerIvy featured in AvalonBay Communities' Corporate Responsibility Report, highlighting impact in supporting ESG outcomes at scale. Director of Asset Management provided testimonial on partnership success, noting smooth implementation across properties with tailored solutions.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Conservice: Utility billing and energy management provider for the multifamily industry. Conservice is Ivy's closest direct peer, both competing for tenant-level utility billing in apartments, though Conservice is more general utility bill management whereas Ivy specializes in solar/DER billing with its patented allocation engine.
• SWTCH Energy: EV charging software and management platform focused on multifamily and commercial properties. SWTCH is a direct peer in Ivy's EV charging billing vertical, both targeting the same property owner buyer with software that monetizes onsite energy assets.

Broad incumbents

• Yardi Energy Solutions: Utility billing and energy functionality within the Yardi property management platform. As both a partner via integration and a potential competitor, Yardi represents the broad incumbent that owns the PMS workflow Ivy integrates with and could theoretically bundle competing billing.
• RealPage Utility Management: Utility billing and energy analytics module within the RealPage multifamily PMS suite. RealPage is a core Ivy integration partner and a broad incumbent with comparable enterprise multifamily reach that could expand into native solar billing.
• EnergyCAP: Utility bill management and energy data platform serving commercial and multifamily portfolios. EnergyCAP is comparable as a billing/utility data platform that could be extended into tenant-level solar billing for multifamily.
• EnergyHub: Distributed energy resource management platform (DERMS) used by utilities and aggregators. EnergyHub is comparable as a DER software layer for managing behind-the-meter assets, though it sits more upstream at the utility/aggregator level than Ivy's property-owner level.
• GridPoint: Energy management and submetering platform for commercial and multifamily buildings. GridPoint is comparable as an enterprise energy management software provider that, like Ivy, addresses building owners seeking to monitor and monetize onsite energy assets.

Emerging players

• Enode: API-first energy management platform that connects and orchestrates distributed energy devices. Enode is comparable as a software layer focused on DER orchestration and energy data APIs, addressing similar building/fleet owners to Ivy.
• Span.IO: Smart electrical panel and energy management system for distributed energy resources. Span is comparable as a hardware-adjacent software platform enabling property owners to control and allocate onsite energy, with overlapping DER management ambitions.
• Submeter Solutions (Submeter Online / ResMan / Submeter One): Submetering and tenant utility billing providers serving multifamily owners. These emerging players address the same tenant-level billing problem Ivy solves for solar, providing a benchmark for the broader submetering/billing software market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@ivy-energy
• LinkedInlinkedin.com/company/ivy-energy
• Xx.com/ivyenergy
• Facebookfacebook.com/ivyvirtualgrid

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds3 records

Investors9 records

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

M&A

Investments

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

Frequently asked questions about Ivy Energy