
Palmetto
Founded Year
2010Stage
Debt - III | AliveTotal Raised
$674.88MLast Raised
$1.2B | 3 mos agoRevenue
$0000Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-11 points in the past 30 days
About Palmetto
Palmetto focuses on providing solar energy solutions. The company offers solar panel purchasing, solar energy plans, and protection services for solar systems, HVAC solutions, and financing options such as solar leases, purchases, and subscriptions. It serves the residential clean energy market with its energy modeling platform. Palmetto was formerly known as Ecologic Solutions. It was founded in 2010 and is based in Charlotte, North Carolina.
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Palmetto's Product Videos


ESPs containing Palmetto
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The solar-plus-storage providers market offers integrated solar photovoltaic (PV) and energy storage solutions. These providers customize systems to meet customers' energy requirements, using advanced technology and data analytics to optimize efficiency and savings. The market provides comprehensive services including design, installation, maintenance, and support services, and it allows for energ…
Palmetto named as Challenger among 15 other companies, including Arcadia, Silicon Ranch, and NineDot Energy.
Palmetto's Products & Differentiators
Palmetto Home
Home energy app for making the switch to clean energy and managing energy production/consumption
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Research containing Palmetto
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Palmetto in 3 CB Insights research briefs, most recently on Mar 28, 2024.

Expert Collections containing Palmetto
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Palmetto is included in 3 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
1,270 items
Grid and Utility
2,754 items
Companies that are developing and implementing new technologies to optimize the grid and utility sector. This includes, but is not limited to, distributed energy resources, infrastructure security, utility asset management, grid inspection, energy efficiency, grid storage, etc.
Renewable Energy
4,803 items
Latest Palmetto News
Mar 17, 2025
7:00 AM PDT · March 17, 2025 For someone who wants solar panels, the question is often: “How many?” And for a heat pump, it’s “how big?” Answering those questions typically requires a contractor to set foot on your property. Yet over the last decade, solar installers have trimmed that time consuming process considerably. Some, like Tesla , have eliminated it entirely. The secret is software — which, when coupled with a range of data sources, allows installers to model exactly how many panels a house will need. Like many other solar installers, Palmetto has its own internal tool to assess potential projects, which is built on software it acquired when it bought Mapdwell , a solar mapping startup. But as growth has slowed in the market for residential solar, the company has begun to tackle other electrification projects, including backup batteries and heat pumps. Developing software for those products, which live inside the home where satellite imagery can’t reach, is trickier. So Palmetto started gathering data to develop a virtual view of every residential building in the United States. Palmetto’s president of energy intelligence Michael Bratsafolis told TechCrunch that the company is “basically simulating digital twins of the entire US residential building stock.” The company’s tool relies on public and private data. Where it doesn’t have exact information, its AI uses clues to infer what might be lurking in the walls. For example, a house built in the 1950s likely used 2×4 lumber for the exterior walls, limiting the amount of insulation that can fit inside. Palmetto developed a demo to showcase some of the functionality the API can give developers access to.Image Credits:Palmetto “This technology can break the home down into like 60 plus different characteristics and attributes,” Bratsafolis said. To validate the models, Palmetto can turn to the data it has already gathered on homes that have bought or are leasing solar panels from the company. “That allows us to anonymize and use the real information and data about a home to compare how the model is performing and help train the model further,” he said. Palmetto has also decided to open the tool to outside developers, a move that Bratsafolis said was inspired by his time at Twilio. “I came from that developer motion, the micro-service approach to providing API building blocks to kind of empower partners and developers,” he said. Developers get 500 calls free every month, and after that it’s five cents per call. For bigger customers, Bratsafolis said the company is open to negotiating special pricing. Bratsifolis said he hopes developers will build tools that speed electrification of US building stock, and Palmetto will get some early clues about where the market is headed: “You just don’t necessarily know what the use cases could be. And with an API product, you get incredible insight into the demand and the market.” Topics
Palmetto Frequently Asked Questions (FAQ)
When was Palmetto founded?
Palmetto was founded in 2010.
Where is Palmetto's headquarters?
Palmetto's headquarters is located at 1616 Camden Road, Charlotte.
What is Palmetto's latest funding round?
Palmetto's latest funding round is Debt - III.
How much did Palmetto raise?
Palmetto raised a total of $674.88M.
Who are the investors of Palmetto?
Investors of Palmetto include Truist, Morgan Stanley, The Rise Fund, Lerer Hippeau, ArcTern Ventures and 14 more.
Who are Palmetto's competitors?
Competitors of Palmetto include EnergySage and 1 more.
What products does Palmetto offer?
Palmetto's products include Palmetto Home and 4 more.
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Compare Palmetto to Competitors

SolarKal operates within the renewable energy sector and provides services including national portfolio analysis, vendor selection, contract negotiations, and project management for solar energy projects. The company serves commercial real estate companies, publicly traded REITs, Fortune 500 companies, and educational organizations. It is based in New York, New York.

EnergySage provides an online marketplace for consumers and businesses interested in converting to solar energy. It empowers consumers to make energy decisions. It guides mass-market buyers to request and compare competitive quotes. It was founded in 2009 and is based in Boston, Massachusetts. In 2022, EnergySage was acquired by Schneider Electric.

Black Bear Energy is a technology-enabled, commercial buyer’s representative specializing in onsite renewable energy and cleantech services. The company was founded in 2015 and is based in Boulder, Colorado. On July 19th, 2022, Black Bear Energy was acquired by Legence. The terms of the transaction were not disclosed.
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