Firm shows solar flair
NEXT generation supplier Social Energy (SE) is bidding to become a leading light in the green power sector by launching an overseas rollout of its solar panel and battery storage packages for homes.
This follows a multi-million pound investment with Australia the first international target for the Ofgemregulated business in west Yorkshire.
Its pioneering artificial intelligence platform lowers bills by enabling customers to store, manage and distribute clean energy and get the most from connections to the grid.
After setting up in 2019, SE has a network of 6,000 UK clients. It sees itself at the vanguard of a sector in transition and helping the UK to hit zero net carbon emissions by 2050.
Deploying technology that cuts through the multilayered UK energy market, the company’s plans and tariffs are designed to be financially viable and competitive, whether customers are investing in going green with a solar power system and battery package (around an £8,500 upfront investment for a typical home) or wanting to boost existing panels’ operations.
While many want to do their bit to tackle the climate crisis as well as make long-term savings, for others it’s about an ageing gas boiler and the need for a lasting, affordable solution.
“We’re delivering grid balancing services that weren’t previously available to individual energy customers. The closure of the feed-in tariff has created unique opportunities for us,” says Ryan Gill, who cofounded the business with Julian Wiley after running a renewables equipment firm. Customers of SE, which works with an approved installer network, can reduce their electricity bills by 70 per cent and its platform analyses homeowners’ energy usage times and behaviours. “This creates a predictive model of their needs, when they should be storing and getting better access to savings by using it to support the grid,” explains Gill.
“With our system bringing together supply, consumption moderation, hardware and regulation, there are fewer parties needing to take profits.”
Buying a major share in Levelise, an Oxford-based company of AI experts, was a turning point, enabling SE to have technology for residential batteries that access revenue streams.
Battery partners for its packages now include Duracell and SolaX and the company is offering a simplified 20p export tariff. Plans are in the works for new electric vehicle products.
The new investment from fund manager CarVal follows £12 million from private shareholders. Australia has 2.5 million homes with solar already, yet few have battery storage.
Gill sees the company adding 30 more to its current 75-strong workforce this year. “Our global opportunities are huge,” he says.