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Smarter Solar Management

Israel
Market: Auto Maintenance, Power Engineering, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 10.02.2019
Min investment
$  200.000
Total required
$ 500.000
Rating
equalizer 263 из 1000
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Idea

Soltell leads the automation revolution in the operation and management of commercial and residential solar energy systems

Current Status

Soltell is currently in Beta stage for a year, with a number of paying commercial customers and a pipeline of upscale pilots in the upcoming months. A commercial product is currently under development.

Market

The distributed solar energy O&M segment is estimated at $1.5B as of 2017 and is rapidly expanding. In fact distributed solar energy O&M segment is making up 35% of the total solar energy market worldwide and because of increasing adoption of O&M standards in line with higher costs of distributed O&M it is expected to form nearly one half of total solar market O&M expenses in the next decade, reaching over $6B by mid-2020s.

Problem or Opportunity

The solar PV market is rapidly growing worldwide, with the distributed rooftop solar segment having an increasing challenge to optimize the costs of operation and management. This segment is increasingly coming under efficiency and regulation pressure, driving the adoption of monitoring and maintenance plans. To date, monitoring of small scale facilities has become a standard in most developed countries, with Japan even making it mandatory. However, manual monitoring is time consuming (and hence expensive) and requires a certain level of expertise. Both PV system owners and control & monitoring centers increasingly demand an end-to-end automation solution for monitoring, operation and maintenance optimization. We are already providing our management platform to PV system owners and receive numerous request from control & monitoring centers.

Solution (product or service)

The soltell management platform for commercial and residential PV systems is allowing to halve the monitoring expenses, maximize energy production by 3-7% and enhance the cost-efficiency via predictive maintenance.

Competitors

AlsoEnergy (including Locus) - a major solar monitoring provider in the US and beyond, with some 180,000 sites monitored with ranging levels of automation using hardware products;
Solar Analytics - a startup operating in Australia with a hardware product;
AGL Solar - a major monitoring solution provider in Australia with a hardware product;
MeteoControl - a monitoring software solution provider centered in Europe with some 45,000 sites monitored, but with minimal automation;
InAccess - an automated solar monitoring software solution provider.

Advantages or differentiators

Soltell solution is software only, which can fit with various dataloggers, allowing remote installation and retrofit (unlike Locus and Solar Analytics, which distribute hardware). Soltell is in this sense more similar to third party software monitoring providers such as Meteocontrol and InAccess, but instead of human-oriented monitoring platform, Soltell automation level allows it do provide the monitoring itself as part of the package, with no human labor involved.

Finance

We are selling the service as SaaS with a price tag per site (per year) plus a size-factor per site (per year); We sold at 2,500$ in 2018 and are expecting to increase this number several times in 2019 with no investment or scale it up twenty-fold with investment.

Business model

Our business model is distributing the solution to solar installers and solar service providers (B2B), which would allow them to reduce human labor costs; In addition, we foresee Soltell becoming an ultimate tool for smart cities to efficiently manage and operate their rooftop distributed solar energy facilities (B2G).

Money will be spent on

R&D, B2B bizdev efforts, patenting and expanding operations

Offer for investor

We are offering equity-based investment or SAFE

Team or Management

Risks

The risks in solar monitoring and operation segment mainly lie in slow adoption rates and compatibility requirement with a multiple number of datalogger providers (though on the other hand, this becomes an advantage when the business is sufficiently grown. In addition, we are currently localized in Israel, and hence any regulation change may impact us (expanding abroad would resolve much of the risk).

Incubation/Acceleration programs accomplishment

Soltell is currently taking part in the Smart Cities acceleration program by Herzliya Accelerator Center (HAC).

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address