12 Green Tech Companies that are Driving Home Electrification
The home electrification movement will change the way we live in much the same way as the internet has changed it over the last quarter-century or so. Green tech companies stand to be the big winners as the products and brands that they build become ever more essential, more popular, and more successful.
And it goes far beyond just clean energy like solar and wind power. The ability to accurately predict the weather, for example, becomes even more crucial when two major sources of energy are wind and sunshine. And the technology needed to manage the grid affects our homes every bit as much as the green technology we deploy within them.
And then there are companies that we might not consider to be green tech companies but which are now rapidly reinventing themselves in light of the changing world. Legacy car companies like Ford and Volkswagen would fall into this category.
What are Green Tech Companies?
Green tech involves the use of science and technology to create products and services that either protect the environment or mitigate against the effects of environmental damage.
This can involve:
- Renewable Energy
- Energy Efficiency through programmable thermostats, LED lighting, etc.
- Batteries
- Electric Vehicles
- Sustainable Agriculture
- Carbon Capture
- Recycling and Waste Management
Benefits of Green Tech
It’s unlikely that we can meet our emissions targets with the technology that is available today, at least not without drastically lowering the standard of living of billions of people. Moreover, the threat of lowering standards of living makes too many people wary of even trying to drastically cut emissions.
So the availability of a Green Tech solution not only makes it possible to cut emissions but makes people believe that doing so will actually improve their lives and save them money, as well as help the environment.
In short, Green Tech companies have environmental impact as part of their core mission statements. When it comes to home electrification, it is Green Tech companies that are at the heart of the energy transition.
Here, then is our list of Green Tech companies to keep an eye on.
1. Atom Power
Brief Company History: Based in Huntersville, NC, just north of Charlotte, Atom Power was founded in 2014 by Ryan Kennedy and Denis Kouroussis.
The company was founded on the notion that the humble mechanical circuit breaker, which hadn’t changed all that much since the days of Thomas Edison, could be vastly improved if it were digital. In August of 2022, the company received a $100 million investment from South Korea’s SK, Inc.
What Problem They Solve: Atom Power has developed what Kennedy calls a better, smarter circuit breaker. It’s one that doesn’t just turn on and off to regulate the power flow but can control the amount of energy going through an electrical panel incrementally rather like a dimmer switch. The company’s immediate focus is on the EV charging market where their smart circuit breakers will allow multiple cars to charge without overextending the grid.
Why it Matters: Charging infrastructure remains a stumbling block to wider EV adoption. For all the progress being made in building public charging stations along highways, concentrated places where dozens, or even hundreds of people all want to charge at roughly the same time remain a huge challenge (think, apartment blocks, hotels and office parks).
If Atom Power’s digital circuit breakers can provide a solution to that problem, it would remove one of the last obstacles to mass EV adoption.
2. Carrier
Brief Company History: Ever since Willis Carrier invented the air conditioner in 1902, the company he founded has been engineering and producing heating and cooling products from its headquarters in Palm Beach Gardens, Florida,
What Problem They Solve: Recognizing thatheat pumps are the solution to our future home and office heating needs, Carrier has more become one of the most trusted heat pump brands in the US. manufacturing some of the most energy-efficient air conditioners, furnaces and heat pumps around.
Why it Matters: With 10% of our carbon emissions (not to mention our methane emissions) coming from the heating and cooling of the spaces where we live and work, finding a carbon-free way to do that is critical. Heat pumps are the solution to our future home and office heating needs.
And as we make the switch to all-electric heating and cooling, many homeowners will be nervous. Having trusted brands behind the new machines we buy will give people a level of comfort that will help to hasten the transition.
3. Chervon
Brief Company History: Chervon is a Chinese company that began manufacturing in 1997 and has plants in Nanjing, China as well as Stuttgart, Germany.
What Problem They Solve: Chervon is one of the top 10 manufacturers of power tools in the world and, as such, manufacturers many of the top-rated electric garden tools, which are sold under the brand name of Ego. Ego sells electric lawn mowers, leaf blowers, weed whackers, hedge trimmers, edgers, chain saws, snow blowers, battery chargers and accessories.
Why it Matters: Garden tools contribute an outsized share of CO2 emissions into the atmosphere. That’s because garden tool manufacturers have largely escaped the sort of scrutiny that has forced the manufacturers if other high emitting machines, such as cars, to clean up their products.
So we have a situation where a commercial gasoline-powered leaf blower that is operated for just one hour can produce as much pollution as a 2017 Toyota Camry that is driven for 1,100 miles. Ego is helping to replace some 650 million fossil fuel-powered tool with electric-powered equivalents.
4. Dandelion Energy
Brief Company History: Headquartered in Peekskill, New York, Dandelion Energy was founded as part of Google X, before being spun off as an independent entity in 2017.
What Problem They Solve: The company specializes in offering geothermal installations to provide heating, cooling and hot water to homeowners throughout the northeastern United States. It is known for developing the first sub-$20,000 geothermal installation,
Why it Matters: The geothermal heat pumps that Dandelion installs exchange heat with the ground beneath the home to either warm the house in the winter or cool it off during the summer, as well as provide for all the home’s hot water needs.
Geothermal heat pumps are much more efficient than the more common air heat pumps. The downside is that they are much more expensive to install. Getting that cost down to a number that homeowners can afford will be key to gaining mass adoption.
5. Ford
Brief Company History: While hardly a scrappy start-up, Ford, which was founded in 1903, invented the concept of the assembly line, making cars cheaper to produce, and playing a giant role in their mass adoption.
What Problem They Solve: Ford has staked its future very much on the coming electric vehicle revolution with the launch of an all-electric version of its most iconic brand, the Ford F-150 Lightning Truck.
Why it Matters: The Ford F-150 is the best-selling vehicle in North America and has been for over 40 years. That’s not just the best-selling truck, but the best-selling vehicle, period. Not only that, but the F-150 is a brand that evokes intense loyalty among its customers, similar to those who simply adore all Apple products.
So the release of the iconic brand’s all-electric version has the potential to change hearts and minds about the potential of electric vehicles. At $40,000 it’s comparable in price to other ICE trucks in its class, and its bi-directional charging capability has got people thinking about uses that go way beyond just hauling stuff from point A to point B.
If the F-150 Lightning turns out to be a hit, electric vehicles will have finally arrived in North America
6. Helio Home
Brief Company History: Based in Denver, Colorado, Helio Home was founded in 2021 by Eric Reinhardt, Bill Lucas-Brown and Clay Duse, Reinhardt a former software product director at Sunrun, while Lucas-Brown and Duse had been general contractors specializing in energy efficiency.
What Problem They Solve: The company offers customized net-zero plans to homeowners who are looking to electrify their homes. Once the roadmap is in place, Helios then brings in the contractors to actually do the work and manages the various projects over time. The entire process is managed by an API platform that connects disparate sources of data and the company is creating its own algorithms to calculate the right heating, cooling and electrical loads.
Why it Matters: Home electrification is an overwhelming process for most homeowners, and many contractors would rather talk them out of it than go through the learning curve themselves. The order in which you tackle the various projects is also important. Helio Home’s one-stop approach takes the guesswork out of it, creates a network of qualified contractors and gives homeowners the confidence to make the switch.
7. LG Energy
Brief Company History: LG Chem began mass production of Korea’s first lithium-ion batteries in 1999 and has since grown to become the second largest battery manufacturer in the world. LG Energy is its battery subsidiary, which was spun off as a stand-alone company in January of 2022.
What Problem They Solve: LG Energy stands as perhaps the main competitor to the Tesla Powerwall in the home energy storage space. In addition to home storage solutions, they also also produce batteries for electric vehicle manufacturerss, such as the Ford, General Motors and Renault. Its Residential Energy Storage Unit (RESU) is a new generation of batteries that pairs with a home solar system and connects directly to a storage-ready solar inverter for charging and discharging.
Why it Matters: Home storage is becoming a bigger deal as more and more home go all-electric. Having the ability to generate solar power is great but we all know the sun doesn’t shine 24/7. Having the ability to store the excess power their panels generate will take homeowners one step closer to net-zero.
8. Lunar Energy
Brief Company History: Founded in August 2020 and led by former Tesla Energy executive, Kunal Girotra, Lunar Energy boasts some heavy-hitting investors, such as Sunrun, South Korea’s SK Group, ITOCHU and Honda. Its mission to electrify the home and provide energy independence to homeowners worldwide
What Problem They Solve: Lunar Energy was founded to build affordable hardware and software products for the residential sector to help homeowners generate, store and consume 100% clean energy and remove the usage of fossil fuels from every home. It’s first product will be an “end-to-end home battery system”.
Why it Matters: It’s no secret that we don’t have a lot of time to get this done. Home-electrification will have to be done at scale. Lunar Energy’s products will dramatically accelerate the switch from fossil fuels to renewables. The partnership with Sunrun and its industry-leading in-home sales force will allow them to start offering home energy solutions to millions of homes across the nation.
9. Sealed
Brief Company History: Sealed was founded in 2012 New York City by Lauren Salz (CEO) and Andy Frank (President) as a green tech company on a mission to electrify all homes and stop home energy waste.
What Problem They Solve: Sealed designs custom heating and cooling plans for homeowners and then matches customers with certified contractors, with whom they coordinate all the work. They also help homeowners to finance the cost with a first-of-its-kind payment program, whereby the company covers the upfront cost and the customers repay Sealed based on actual reductions in energy use.
Why it Matters: Even homeowners who are committed to electrification, lack the know-how and the time to properly upgrade their home’s insulation and HVAC. And while there are plenty of contractors who are willing to do the work, find those who are trained to do it the right way can be a challenge. And then there’s the cost…
10. Sunrun
Brief Company History: Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun has grown rapidly to become the largest residential solar company in the United States.
What Problem They Solve: Not satisfied with merely putting glass on roofs and saving homeowners a few dollars on their electric bills, Sunrun has staked out a huge role in the home-electrification movement. Partnerships with Ford, Span and SK Group, combined with the best door-to-door sales force in the industry has put Sunrun in pole position to become one of the biggest players in the energy transition.
Why it Matters: Solar is a perfect gateway to engaging homeowners in meaningful conversations about home electrification. As people look for ways to save money on their ever-rising electric bills, it’s not a giant leap to take the conversation several steps further into electric vehicles, heat pumps and the future of energy.
11. Tesla
Brief Company History: Now headquartered in Austin, TX, Tesla was founded in 2003. The following year, via a $6.5 million investment, Elon Musk became the company’s largest shareholder. He has served as CEO since 2008
What Problem They Solve: First, Tesla finally made electric vehicles cool. Then they figured out how to make them (at least somewhat) affordable. That would have been a significant accomplishment in itself, but they then went on to acquire SolarCity and transform it into Tesla Energy. And then there’s the solar Power Wall, a sleek, attractive way to store energy.
Why it Matters: If anyone wonders if a GreenTech company can be profitable, they need look no further than Tesla. As arguably the most powerful brand in the electrification movement, Tesla is leading the charge towards an all-electric future. Elon Musk’s company is plotting a path to a future that few other companies and business leaders can even see.
And in doing so, they’ve become one of the most valuable companies in the world.
12. Wallbox
Brief Company History: Founded in 2015 and headquartered in Barcelona, Spain, Wallbox is a smart charging company on a mission to liberate the world from fossil fuels. Their US office opened in San Francisco in 2019.
What Problem They Solve: Wallbox is one of the leading manufacturers of EV charging stations in the world. The company has four core product ranges, Pulsar, Copper SB, Commander and the Quasar bidirectional charger. All offer different variations on the EV charging experience for homes and businesses alike.
Why it Matters: For all the talk about lack of public charging infrastructure being an impediment to EV adoption, it is the expansion of home EV charging that will be the real key. And bidirectional charging like that offered by the Quasar will be a game-changer, offering not just more sustainable ways of using energy but also of sharing it.
