The investment comes on the heels of a $375M investment round raised by Palmetto to support the company’s nationwide expansion
NEW YORK, April 20, 2022 /PRNewswire/ — Palmetto, a clean energy platform leveraging proprietary technology designed to drive the adoption of renewable energy like solar power, today announced that Main Street Advisors, whose clients include Maverick Carter, LeBron James, Governor Arnold Schwarzenegger, Billie Eilish, Finneas O’Connell, Jimmy Iovine, Drake, and Bono have invested in the company to help accelerate the adoption of residential solar and clean energy independence across the United States. The announcement of Main Street Advisors’ investment follows news of Palmetto’s $375M Series C funding round, which was completed in 2021.
"Clean energy should be accessible for everyone, not just households with expendable income," said Maverick Carter. "Palmetto’s work to provide more affordable clean energy can have an immediate positive impact on the environment as well as families and communities across the country. Empowering people with access, information, and opportunities is something we’re passionate about and always excited to get behind."
While residential solar represents a more than $100 billion total addressable market, only 3% of the more than 70 million homes across the U.S. utilize solar energy. The investment from Main Street Advisors and other investors will help enable Palmetto to close the gap between the potential of residential solar and the current reality. Palmetto’s innovative clean energy platform allows homeowners to make a cost-benefit analysis within minutes to determine their energy bill savings, the amount of carbon offset by solar installation, and the number of years it will take to earn back the solar installation investment.
Chris Kemper, Palmetto Chairman, Founder, and CEO said, "Our mission is to democratize clean energy and fundamentally alter the trajectory of climate change. The key to the clean energy revolution is to educate people and bring awareness to the issues and solutions. We’ve been at this for over a decade and honestly, I can’t think of better partners to help us share our company’s mission and message that clean energy is a choice for everyone."
Chris Kemper founded Palmetto after years working with the world’s leading organizations on climate change. Through Palmetto, Kemper has aligned stakeholders–including policymakers, investors, business leaders, financiers, demand channels, local operators and consumers–in his call for a New Utility Revolution and a shared mission of leading the world into a clean energy future.
For more information about Palmetto and its services, please visit: www.palmetto.com.
Palmetto is an award-winning clean technology platform, with proprietary technology designed to make it easier and more affordable for homeowners to source their energy from renewables like solar power. Palmetto believes that choosing clean energy sources is a right, not a privilege. Palmetto is leading the call for a New Utility Revolution, which is focused on the democratization of energy. The Company continues to innovate with proprietary products that reduce costs and drive widespread distribution of simple energy management solutions. Palmetto is a triple bottom line, fully distributed company with teammates throughout the United States. Palmetto’s Get-Solar, Give-Solar program provides underserved communities with access to solar energy systems. For more information please visit: palmetto.com.
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