Throughout 2023, Swell Energy further established itself as a leader in the renewable energy and cleantech sectors, achieving ambitious goals and momentum with notable advancements and recognition over the course of the year. This year-in-review summary highlights just some of those achievements and milestones, including expanding solar and battery storage system sales, developing and operating more Virtual Power Plants (VPPs), forming strategic partnerships, and receiving national media coverage and industry recognition. These accomplishments underscore Swell's commitment to providing accessible, clean energy and contributing to the Greater Grid For The Greater Good™.
Key Partnerships
Swell formed new alliances to enhance sustainability, grow energy savings, and advance virtual power plant technology.
- Collaborations with The Energy Coalition, Perl Street, GRID Alternatives and more progressive organizations aimed at increasing clean energy access in low-income neighborhoods, exemplified by the Bassett Avocado Heights Advanced Energy Community project in Los Angeles.
- A strategic partnership with Batteries Plus in Sacramento brought VPPs to retail, combining customer education with solar and storage solutions. This joint initiative provides customers with convenient in-person opportunities to learn more about powering their homes with solar and home batteries, in addition to VPP programs designed to save customers money on utility bills while bringing reliable resources to the utility.
- The digital collaboration with leading grid solutions provider Shifted Energy to expand the capabilities of VPPs. The platform integration of the company's respective distributed energy resource management systems broadens the type of distributed energy assets and devices capable of delivering value to VPPs while amplifying the benefits of VPPs to utilities.
Media and Events Spotlight
Swell earned major media attention in 2023 with a potential reach of over half a billion readers and an estimated advertising value of $5.3 million. Coverage from top media organizations included the following articles:
Invitations to participate in various leading industry events positioned Swell as a top thought leader in distributed energy resource deployment and VPP development. Swell spoke at events including:
Award Wins
Swell contributed to multiple analyst reports and was recognized across a spectrum of various award categories:
- Inc Magazine's Inc. 5000 list. Landing at number 1,228, Swell sits amongst the top 25% of successful companies demonstrating skyrocketing growth. Swell far surpassed the median growth rate of Inc. 5000 companies, standing at an impressive 481%—more than double the average growth rate of 219% on the list.
- Fast Company “Next Big Things in Tech” award. A panel of 18 editors and writers from Fast Company evaluates industry leaders and emerging companies across 29 categories, including AI and Data, E-Commerce and Retail, Robotics and Automation, and Security and Privacy. Swell was also featured as one of Fast Company’s “leading technologies in sustainability and energy”.
- Finalist in the **S&P **Platts Global Energy Awards in the Grid Edge award category.
- Overall Top 3 in the IoT Breakthrough Awards. Out of 3,850 submissions and over 100+ award winners, Swell clinched a top three finalist position for the “Overall IoT Company of the Year” award.
- The industry analyst firm Parks Associates’ named Swell a Top Leader in Energy Management.
Analyst Recognition
- Swell was invited by the Department of Energy to support their VPP Commercial Liftoff Report that features the VPP design elements from Swell Energy’s active VPP in Hawaii as well as other overall project design, operation, and technical insights.
- Guggenheim Partners report of the leading private companies in industrial and energy technology entitled “The Efficient Frontier” names Swell Energy as one of the top 13 companies in the technology platform category.
- The Brattle Group’s Jurisdictional Review of “Incentivizing Behind the Meter Storage” and “Real Reliability - The Value of Virtual Power” feature several utility contracts Swell holds with utilities across the country that make storage more accessible.
- Evercore’s Sustainable Technologies and Clean Energy Report titled “A Megatrend in Clean Energy” features Swell as a key player in the market and states transforming the global energy market into a more technology-driven, sustainable infrastructure sector.
- Swell served as an advisory member to the LACI Clean Energy Partnership and the 2028 Clean Energy Roadmap supporting the design elements for accelerated VPPs and 100% clean energy while ensuring we meet the needs of transportation electrification, building decarbonization, and grid resiliency in the Greater Los Angeles Region by the time of the 2028 Olympic and Paralympic Games.
- Swell joined Rocky Mountain Institute’s Virtual Power Plant Partnership (VP3) which acknowledged Swell's role in advancing VPP technologies in multiple documents and industry meetings.
Gratitude and Future Outlook:
Swell's leadership team expresses its gratitude to employees, partners, suppliers, and customers for their contributions to the company's success. The company remains dedicated to innovation and collaboration for a sustainable and impactful future. Swell Energy's 2023 was marked by remarkable growth, influential partnerships, and significant industry recognition. These achievements demonstrate Swell's leadership in the renewable energy sector as it reinforces its commitment to creating a sustainable future. As Swell continues to innovate and expand its reach, it remains a pivotal player in the journey towards a cleaner, more efficient energy landscape.