The world’s energy systems are changing. To drive global decarbonization and to achieve net-zero by 2050, the future grid must be clean, resilient, dynamic, and intelligent. Achieving these goals requires increasing the speed at which we electrify our energy consumption and how quickly we can deploy renewable energy generation. This process requires a vast network of solar and wind energy that flows through a modernized grid – the end result will have a significant impact on electricity markets.
The transformation of the power grid will benefit companies that have the intelligence, speed and flexibility to change how and when they generate and consume electricity. Those with distributed energy assets will gain the most – prompting businesses, utilities, developers, and asset managers of renewable energy projects to rapidly invest in a clean energy intelligence platform (CEIP) for storage and infrastructure. A CEIP enables full optimization of solar plus storage projects that can monitor, synthesize, and integrate with the power grid. Managing assets in this manner will allow savvy companies to enhance project returns, reign in price volatility, increase resilience, and use more of the renewable energy that they generate – even during times when the sun is not shining or when the wind does not blow.
Stem is currently a leader in development and installation of CEIP and energy storage solutions and will continue to be at the vanguard of global energy modernization through not only our own research and development but also through strategic acquisitions.
A Unified Clean Energy Intelligence Platform
I am thrilled to announce that Stem has signed an agreement to acquire AlsoEnergy, a global leader in solar asset management software and edge control solutions with 32.5 gigawatts (GW) of solar assets under management across more than 50 countries. Together, Stem and AlsoEnergy will serve a mix of commercial customers, utilities, asset owners, and asset managers who have solar, storage, or both.
Since our founding in 2009, Stem has grown into the global leader in AI-driven energy storage services and software. Now, through this acquisition, we are expanding beyond battery management into cleantech management, optimizing solar and battery storage systems through data and software. The combined company will deliver a comprehensive, AI-driven clean energy intelligence software offering that we expect will simplify our partner and customers’ solar plus energy storage asset management and boost their project returns through a “single pane of glass.”
Amplifying Our Partners & Customers’ Experiences
The clean energy intelligence platform offered through our combined company will provide a cohesive energy optimization software platform for Stem partners and customers to monitor and track all their asset performance – from standalone solar to hybrids to standalone storage. Bringing these solutions together creates a more seamless experience. They also provide potential to generate better partner and customer returns through greater data visibility across assets and many other synergies.
Stem’s solar and electrical contractors, large commercial users, developers, and utility customers now have the ability to combine solar plus storage performance data more ubiquitously.
AlsoEnergy’s existing customers now have the ability to consider energy storage for existing or planned solar sites rather than rely on one software and service platform to maximize the total asset value.
Building the Future, Renewable Grid
With AlsoEnergy, Stem has data and access to a tremendous amount of solar and storage assets, robust software, and unmatched services for supporting the optimization of solar and storage projects. Moving forward, we will strive to continue the development of our differentiated software as a service offerings for renewable assets and make the process of contracting for solar plus storage more seamless. By helping to maximize the performance of our customers’ assets and streamlining the clean energy intelligence process, we believe we will have a substantial impact on accelerating the adoption and success of renewable energy. Together, with AlsoEnergy, we will accelerate the transition to a renewable, decarbonized grid.