2021 Year in Review with CEO Dover Janis
2021 was a fantastic year for the Ivy Energy team, full of challenges and accomplishments. While the Coronavirus pandemic held on to the spotlight, the Ivy team kept its foot on the gas and pressed on to be the best in the business, landing several high-profile multifamily housing clients. Meanwhile, our engineering and development team worked hard to optimize Virtual Grid by improving our implementation process. As a team, we look at what we want to sustain and improve while we experience so much growth. Team accountability and input are invaluable; each employee taking ownership and responsibility in their different areas was a huge key to our success last year and the momentum we are seeing coming into 2022.
As of recent sales and existing projects, Virtual Grid systems represent over $60M in avoided utility costs and 205,124 Metric Tons of CO2.
The Virtual Grid software combined with client Solar PV systems will help remove 205,124 Metric Tons of CO2 out of the Atmosphere, equal to 226,720,327 Pounds of Coal 23,081,371 Gallons of gas. Based on all the current systems in place now or currently underway, Ivy's clients will avoid over $60M in utility costs over the next 25 years. We could not have done this without Ivy's partners; Our goal is to double these figures in 2022!
Ivy achieved two significant victories in this year's NEM3 proceeding for multifamily buildings and their underserved energy consumers.
In the NEM 3.0 proceeding the Utilities (IOU's) tried to claim that all solar generation on a VNEM system was 100% exported and that because of their made-up definitions of how they "meter" VNEM systems, the science of Kirchhoff's electrical laws did not apply anymore when making their claim. Our team at Ivy energy saw this and knew it was a ploy to mislead a laggard market that may not notice their false remark. If it weren't for our small policy budget, we wouldn't have been able to let the world know the truth, and the NEM 3.0 decision released last month would likely have missed fixing that error if our team at Ivy did not take action. Luckily fact #182 made it onto the record and can advocate for this building type and customer class.
It is hard to pick the words to describe the feeling you get when things like this happen. It is a sad fact that the monopolies that have the most influential control over the cost of energy make a blatantly incorrect claim. A claim that luckily has been corrected without any dispute, and a declaration that would mean that any solar system used by renters and multifamily building owners would have around 50% of the energy improperly labeled as grid exports if it was not corrected. That energy being labeled as a grid export according to the NEM 3.0 proposal would equate to much lower compensation.
It is sad that the utilities that are supposed to be serving taxpayers were actually obscuring the truth. I am proud of our team at Ivy Energy for advocating for the little guys left behind and a market of brilliant investors (Our customers) who can help transform the energy industry and fix many of our energy grid infrastructure problems by investing in solar + storage projects on a decentralized grid. Thank you for helping us!
Every year the cleantech media outlet "Solar Power World" releases a list of Solar products that they think are the top products in the industry for that year. The way they describe how they choose which companies to feature is pretty simple "These are our top choices for the most innovative products announced and coming available soon. We expect these products to transform the solar installation market, all for the better." They have six categories, Top Solar Panels, Top Solar Mounting, Top Inverters, Top Storage, Top Solar Components, and Top Software and Monitoring Products. This year they selected Ivy Virtual Grid for Top Software and Monitoring Products! Ivy's team is very excited to be chosen for the award and thanks Solar Power World for the recognition.
Thank You
Here's my end-of-year remark to all of our partners, customers, users, investors, and industry friends. Thank you to everyone on our team for their hard work this year. Let's end 2021 proud that the beginning is just occurring and that by 2023 the multifamily market will be the hottest growing DER market in the country. Here's to a foundational year for the solar industry and specifically for shared real estate communities. We thank you for your support in 2021 and are excited to have your continued support throughout 2022!
Pioneering the Future of Multi-Tenant Solar Energy Management
2024 was a trailblazing year for Ivy Energy, where we shattered barriers, redefined possibilities, and delivered innovative solutions to address the multi-tenant solar split incentive challenge. By driving product advancements, forging impactful partnerships, and scaling operational processes, we empowered multi-tenant properties to embrace clean energy with confidence.
A Year of Growth and Market Expansion
Ivy has grown its active project pipeline 450% compared to 2023, with a line of sight to clear +600% in active projects by the end of the year. Our tech-enabled solutions empower more communities than ever. With $18M in Series A funding (Read more) and the strategic acquisition of Glow Energy (Read more), we are poised for unprecedented growth and impact. This investment enables us to enhance our technology, streamline operations, and expand our reach into new markets nationwide.
Entering new markets with increased resources allows us to address diverse energy challenges and deliver tailored solutions to property owners and tenants. Additionally, the launch of our consulting arm provides expert guidance for our clients and partners to save money and enhance ROI while navigating intricate solar investments.
Meaningful Operational Updates
At Ivy, innovation isn’t just about technology—it’s about creating digital tools that empower our clients and their tenants:
- PropTech Integrations: Partnered with RealPage, Entrata, and Yardi to automate rent roll syncing, move-in/move-out updates, and direct charge posting to resident ledgers. These integrations reduce monthly processing time by up to 2 hours per property while enhancing data accuracy and operational efficiency.
- NEM Credit Delay Optimization: The Utility Coordination team adopted the CPUC informal complaint process to reduce delays in NEM activation after PV solar system commissioning. This improvement cut the average resolution time for delayed NEM credits from 123 days in 2023 to 49 days in 2024, allowing property owners to see Net Operating Income over two months sooner on average.
Platform Advancements that Lead the Industry
Our engineering team broke new ground, ensuring our platform stays ahead of the curve:
- Migrated to a new infrastructure processing system for faster processing and further automation improvements across operational features.
- Introduced IvyDual in response to regulatory requirements in California, which allows us to enter new markets where consolidated billing is not viable.
- Achieved SOC 2 Compliance, reaffirming our commitment to data security. (Read more)
- Built initial public API for Conservice integration and new utility data access pathways, strengthening our platform’s versatility and reliability.
Empowering Positive Experiences with CX
At Ivy Energy, our customers rely on us as true partners in their clean energy journey, helping them achieve long-term NOI growth while providing exceptional support for property owners and tenants. We consistently deliver this experience by simplifying complex utility processes and offering our white-glove service that ensures our clients feel supported, informed, and empowered to succeed. This year, Ivy’s Customer Experience Team launched two significant platforms:
- Ivy Implementation Portal: A step-by-step, transparent portal that simplifies solar implementation for our clients and partners across multiple organizations. (Watch a walkthrough of the new portal here.)
- Resident Help Center: Educate tenants about the solar program with helpful resources and offer direct support online or by phone. (Explore the Help Center)
Shaping the Future Through Thought Leadership
In 2024, Ivy Energy reinforced its position as an industry leader; our Virtual Grid 3.0 impressed the judges and earned first place in Solar Power World’s “Best in Show” award for large-scale solar innovation. (Read more)
Leadership team members Alex Dogan, Tanya Kuhn, and Sean Nam were celebrated in San Diego Business Journal’s Leaders of Influence in Technology 2024 for their contributions to advancing sustainable energy. (Read more) Ivy was also featured in Alt Energy Magazine (Read more), San Diego Business Journal (Read more), and on Solar Academy. (Read more)
Logan Carter showcased Ivy’s groundbreaking innovations in a main stage speech at Cretech NY (Watch here), an engaging appearance on the IMN Podcast (Listen here), and a deep-dive interview with Chris Moreno, also known as “Mr. PropTech.” (Watch here) Ivy’s policy team further expanded its influence by authoring a Model VNEM Whitepaper, a critical guide to enabling multi-tenant solar models nationwide. (Read the Whitepaper).
Measurable Environmental Impact
This year, Ivy Energy amplified its environmental contributions, with contracted units in implementation set to offset an astounding 109 million pounds of CO2. Meanwhile, active units have already offset 9 million pounds of CO2, demonstrating our ongoing dedication to reducing carbon emissions.
Looking Ahead to 2025
As we celebrate 2024’s successes, we are always looking to the future. In 2025, we’ll continue to push boundaries, deliver innovations that empower our clients, improve tenant experiences, and lead the multi-tenant housing sector toward a sustainable future.
A Message from Dover Janis, CEO of Ivy Energy
“2024 was a year of progress and adaptation. While utility-caused delays challenged our growing pipeline, our focus on agile problem-solving reduced their impact and kept the market moving forward. This is a testament not only to the dedication and focus of our team but also to the strong macro-level foundation that the onsite energy business model provides for real estate owners, even in the face of monopoly-driven resistance. With a large and expanding customer base and hundreds of projects, we have continued to validate the transformative potential of clean energy solutions for shared communities. I’m incredibly proud of our team—now among the most mature, knowledgeable, and experienced in the industry—as we trail blaze the path forward. The market is primed to grow and drive transformative change in local communities. I’m deeply grateful to our partners and customers, whom we have the privilege of serving every day as we continue to lead the way.”
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