Solstice, a leading community solar provider and long-time advocate for energy equity in under-resourced communities, has officially secured funding from Google.org to advance its groundbreaking EnergyScore initiative. Talk about the stated initiative on a slightly deeper, developed to address the disparities faced by low- to moderate-income (LMI) households in accessing clean energy, EnergyScore is basically a breakthrough machine learning-based qualification metric. But what’s the significance of this metric? Well, the same is explained by how four out of every five American households are presently excluded from rooftop solar installations due to factors like eligibility restrictions, homeownership status, and limited access to financing. Such a disparity, like you can guess, creates a clear socioeconomic division, with less than 5 percent of solar installations belonging to households earning less than $40,000 per year. Fortunately enough, this new flow of cash from Google.org will enable EnergyScore to address that very conundrum. In essence, the collaborative support is going to enable Solstice’s EnergyScore program to design and implement dynamic monitoring and evaluation frameworks for both data and model signals, allowing for continuous assessment and mitigation of biases. As for how the whole thing works on a more practical note, EnergyScore delivers on its promise by combining utility payment history and customer data with advanced AI algorithms. By doing so, it is able to provide solar developers with a metric which surpasses the accuracy and inclusivity of FICO credit scores when it comes to predicting subscriber bill payment behavior for utilities. Furthermore, the program incentivizes solar developers to adopt EnergyScore, thus expanding their customer base and reducing customer turnover rates. Not just that. it also qualifies a higher proportion of LMI individuals to access renewable energy products.
“Solstice was founded on the belief that solar energy should be accessible to all, regardless of socioeconomic status,” said Steph Speirs, Co-founder and former CEO of Solstice. “EnergyScore is a scalable solution to include more households in our clean energy transition, aiming to bridge the gap for households unable to qualify for clean energy upgrades.”
Already, Solistice has initiated a pilot project in the context of its initiative, which will see the company link-up with a residential solar financier or developer to rigorously evaluate the efficacy of EnergyScore. The idea behind doing so is to demonstrate tangible impacts for marginalized communities that have historically been excluded from green energy financing. Going by the available details, Solistice will begin recruiting pilot partners later this year.
“Early results have been promising,” said Sandhya Murali, Co-founder and newly appointed CEO of Solstice. “Our analysis of nearly 875,000 customer records demonstrates that EnergyScore results in a 1.9 percentage point reduction in default rate compared to FICO and increases the number of LMI households by 14%. This support will empower us to advance our research and launch EnergyScore, ensuring that clean energy access is equitable and inclusive.”
The funding in question also delivers a rather interesting follow-up to Google’s own commitment to a sustainable future. You see, the search engine giant’s sustainability ethos involves utilizing their platforms and innovations to assist individuals, organizations, and governments make more environment-friendly choices. In essence, the company is committed to achieving net-zero emissions across its operations and value chain by 2030, supported by a goal to power its data centers and office campuses with 24/7 carbon-free energy, such as solar and wind.
“At Google, we believe in leveraging technology and innovation to drive positive change for our planet. Our collaboration with Solstice represents our dedication to empowering initiatives that create equitable access to clean energy solutions,” said Karla Palmer, Manager of AI for Social Good & Sustainability at Google.org.
