Home battery systems could be the next big thing, especially considering that the Inflation Reduction Act (IRA) extended the 30% solar investment tax credit (ITC) to standalone home battery systems. But still, the current return on investment of a home energy storage system is confusing for homeowners, and the installation / system design is complex for solar installers. A startup climate tech company, founded by a team of Casper and Uber executives, is launching with a plan to simplify battery sales and installation for both sides.
Haven Energy, co-founded by Vinnie Campo, Jeff Chapin, and Philip Krim, launched in April with $4.2 million in seed round funding led by Lerer Hippeau and Giant Ventures, with participation from Quantum Innovation Fund and Raven One Ventures.
“I spent the better part of a year researching and making energy efficiency and electrification upgrades to protect my family from outages and lower our carbon footprint, but the process of figuring out what I should do and what products to buy was so complex,” said Haven Energy co-founder and CPO Jeff Chapin, previously the co-founder and CPO at Casper. “With Haven Energy, we’re taking the frustration and guesswork out of home battery systems and making them more accessible at a time when power outages and energy costs are at an all time high.”
Haven Energy will use the new capital to launch its operations in Southern California, where extreme weather and an aging grid have caused over 24,000 power outages in the past two years alone. The company plans to expand throughout the state and to additional US markets, targeting 100,000 installations by 2028.
The company guides homeowners through the selection, electrical design, permitting, quoting and financing of a home battery system, and pairs homeowners with vetted, qualified electricians to complete the installation in a matter of weeks.
“Home battery prices have decreased substantially in the past ten years, and for the first time, homeowners can earn a federal tax credit to help significantly lower the cost of installation,” said Haven Energy co-founder and CEO Vinnie Campo, previously a General Manager at Uber. “We’re creating a turnkey home battery system experience by offering homeowners speed, simplicity, and a way to generate additional revenue, all while providing backup power to their homes.”
Does Haven have its own system, or does it partner with other battery and energy management system providers?
“We don’t make our own batteries,” Campo tells us. “We have carefully reviewed dozens of different battery manufacturers and narrowed down to the best products to offer. As part of your initial consultation and the system design process, we select a specific battery system to match the homeowners needs. We currently install FranklinWH, LG ESS, Enphase and Tesla Powerwall batteries.”
Software maintained by the company will automatically switch a home to draw from its stored energy reserves during an outage, and Haven is saying they will reduce electricity bills by $500-$1,000 per year through optimized time-of-use (TOU) programming. Where allowed by local regulations, homeowners may also be able to monetize their stored energy by selling it back to local utility companies.
Haven Energy is also helping households enroll in the company’s virtual power plant. By leveraging a software-driven marketplace, Haven Energy will aggregate the supply, demand, and operations of home battery systems.
What battery chemistries does Haven support? NMC? LFP?
“We work with both, and collaborate with homeowners to select the best battery for their home and use case,” Campo says.
Do installers apply to get into Haven’s network? What is that process like?
“Haven only partners with the best electricians who are certified to install the batteries we sell,” Campo says. “A Haven-vetted electrician goes through extensive screening and training to ensure they can complete battery installations at the highest standard. To date, we’ve recruited our electricians, however interested electricians can send us a note through the partner link listed at the bottom of our website.”
“The founding team at Haven Energy has a strong background in solving consumer pain points and a track record of scaling products quickly,” said Lerer Hippeau Managing Partner Ben Lerer. “We’re firm believers in the team’s mission to build the largest home battery storage marketplace and become the leading operator of residential distributed energy resources.”
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