The first six weeks of 2010 have seen an uptick in the number of greentech venture capital deals compared to the pace of 2009. Although VC deal activity is not a proxy for the health of the industry, it does show a swing in the mood of investors. As always, we'll get you greentech VC stats at the close of the quarter.
A unique VC announcement was made today in the solar sector: One Block Off the Grid just announced a $5 million round A of venture capital from New Enterprise Associates.
Residential adoption of solar is well below one percent in the U.S., but 1BOG aims to improve that statistic.
1BOG is an online start-up which acts as a consumer solar advocate that engineers group discounts for solar purchases. The firm has helped to initiate almost 600 residential solar installations across the U.S. since the company's founding in 2008.
The start-up goes into a geographical region, and launches a formal RFP campaign to identify a reliable solar installer with a track record of quality work, strong warranties and fair pricing. 1BOG then partners with that installer, obtains a group discount, and provides a pre-negotiated price to their customers.
While many readers of this website are solar or energy experts who are more apt to be familiar with the technology and markets in solar, much of the general public is likely still vexed by the intricacies of solar technology and installation. 1BOG looks to take some of the mystery out of solar system selection by providing unbiased support for homeowners interested in the technology. The company's website is also a great educational resource for the potential solar consumer.
The finest cutting-edge solar technology is of no use if it doesn't get installed on consumers' rooftops. 1BOG might just do a lot to help on that front.
Eric Wesoff is Editor-at-Large at Greentech Media. Prior to joining GTM, Eric Wesoff founded Sage Marketing Partners in 2000 to provide sales and marketing-consulting services to venture-capital firms and their portfolio companies in the alternative energy and telecommunications sectors. Mr. Wesoff has become a well-known, respected authority and speaker in these fields.
His expertise covers solar power, fuel cells, biofuels and advanced batteries. His strengths are in market research and analysis, business development and due diligence for investors. He frequently consults for energy startups and Silicon Valley's premier venture capitalists.
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