State of Solar+: A Letter from David G. Schieren, EmPower Solar CEO

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Hello,

We hope all of you are having an amazing start to the New Year. As we are a few months into the year, we wanted to reflect on 2023 and share our optimistic outlook for 2024 and beyond.

This year serves as an inflection point for clean energy. The New York Metropolitan area is on the cusp of a boom in residential electrification, powered by solar and battery storage.  Electricity prices continue to rise, meaning solar continues to deliver greater savings. The Inflation Reduction Act (IRA) that brought unprecedented savings to consumers while helping us transition to clean, renewable energy.

The future of solar has evolved to a powerful combination of solar + battery. Time-of-Day (TOD) rates, which we partnered with LIPA and PSEG LI to develop, took effect this year and can increase your savings. This is also an option for ConEd customers. An important evolution in electricity pricing, TOD is a game-changer for all ratepayers, especially those with solar and batteries, and I encourage you to begin exploring what this could mean for you. You can read more here.

With peak pricing now becoming a reality, the power of a battery with solar is no longer a nice-to-have but a necessity. What was once just for backup power now can provide you with even greater savings.

Perhaps most exciting is the announcement of the new Tesla Powerwall 3. Available for new solar installations and existing solar enhancements, this product will revolutionize the battery space, and we are proud to be one of the first companies on the east coast to have installed one. We will be sharing more information about this soon, but are happy to answer any questions in the meantime. You can contact us here.

Beyond high-performing technology and five-star service, we are eager to continue to provide value to you. Over the coming weeks we will be announcing a few exciting updates. We are getting a lot of questions about TOD rates, so we will be hosting a webinar to help you better understand what it is and provide guidance on how to use it to your benefit and maximize your savings. We will also be rolling out additional services like a new service monitoring plan to help you on your path toward total home electrification.

We are here for you and encourage you to reach out with any questions.

Best,
David G. Schieren
CEO, EmPower Solar
Vice Chair of the Distributed Generation Division, SEIA
empower-solar.com



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