With Virtual Grid by Ivy, you can trust that our proprietary algorithm and utility-grade monitoring data will accurately and equitably generate multifamily resident solar bills. However, one of our most frequently asked questions is how do we calculate our resident solar bills? We like to start by breaking down the three categories of energy.
Solar Billing Categories
Live Solar
Live solar is the amount of electricity covered by the real-time generation of the onsite solar system. This category is most common during the day when the solar panels have plenty of sunshine to generate electricity. This is the most valuable of the three categories, providing the greatest savings.
Solar Credit
When the solar system generates more electricity than needed, your community earns Solar Credits. These are used when solar energy isn’t available, including at night or on cloudy days when generation is lower. Solar Credits do contribute to savings, but they are slightly less valuable than Live Solar.
The Grid
If the electricity demand is higher than the onsite solar generation, then some electricity will come from the Grid. So, this billing category is all of the electricity not offset by Live Solar or Solar Credits. However, every resident will receive some Live Solar and Solar Credits, which guarantees their solar energy bill will be lower than it would be without solar.
How Multifamily Resident Solar Bills are Calculated
Next, Ivy’s Virtual Grid software gets to work its magic by:
- Calculating the total kilowatt-hours and the gross utility cost without solar. This is based on the actual utility rates that apply to your community.
- Determining each resident’s time-of-use intervals compared to the real-time onsite solar availability intervals. This provides the Live Solar and Solar Credit distributions.
- Converting the Live Solar and Solar Credits to a percentage discount that is taken off the gross utility cost.
Helping Residents Save Even More with Solar
Solar energy brings the greatest savings if it is used right away. This is why Live Solar is the most valuable of the billing categories. So, Ivy’s multifamily solar bill provided to residents every month includes a visual representation of how resident energy usage compares to onsite solar generation. This is an excellent feature that helps residents save even more with solar by learning how their energy usage habits impact their bills. By shifting heavier demand to the hours dominated by Live Solar, residents can maximize the Live Solar portion of their bill and maximize their solar savings. Something as simple as doing laundry between 10 am and 3 pm, instead of at night, can make a big difference.
A Solar Billing Software Like No Other
While there may be other systems using flat discounts or even communities putting the impossible task of managing shared solar savings on their property managers, there isn’t another billing software that fairly calculates multifamily solar. Ivy’s solar billing is based on actual usage and solar generation, which is the most equitable way to share solar benefits with multifamily residents. When paired with our user-friendly, transparent bills that clearly illustrate solar savings, residents, owners, and management are able to navigate shared solar in a seamless, stress-free way.
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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