SunPower has invested $20 million into Tendril, a Colorado-based energy management software firm.
As part of the deal, SunPower will license Tendril’s energy services platform integrating it with solar series data of customers and offering them advanced energy management solutions.
Customers can use Tendril’s cloud-based ESM platform to collect and analyze data points about individual houses and their energy consumption patterns.
Using this information, Tendril’s clients can approach customers with tailored offers for new energy-related services.
With the support of available date, users can opt for more money saving, using more energy to better align with solar production, or a combination of the two.
In addition, utilities can identify customers who are best suited to install solar, or customers who could benefit from being part of community solar programs with the help of Tendril platform.
The system will advise on using an electric appliance when PV production is highest or in future the device may automatically turn on when the right amount of energy is available.
The platform also offers an opportunity to upsell products and services in a utility rebate.
As utilities are competing for customers with providers of solar, electric car-charging systems and energy-storage makers, Tendril anticipates a better market for its cross-selling and value-add services software platform.
SunPower sells and leases solar panels to homeowners with plans to enter into energy management and energy storage segment.
Competitors such as SolarCity, Enphase Energy and Vivint Solar already are into energy management business.