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swell energy shutting down
Swell Energy Shutting Down

Swell Energy Has Reportedly Closed Its Doors

Swell Energy, a virtual power plant (VPP) provider that collaborated with multiple utilities, is reportedly shutting down just months after it acquired solar and storage installer Renu Energy. In recent years, several solar companies have faced difficulties due to increasing industry complexities, equipment costs, and shifting energy policies. Many companies promised long-term service that they could not maintain, leading to significant challenges in honoring warranties and fulfilling customer expectations. Swell Energy, an early leader in solar energy storage solutions, also went through a similar turbulent phase. However, rather than completely going out of business, Swell Energy underwent a restructuring to focus on energy management rather than direct consumer-facing solar solutions.

Swell Energy Overview:

Swell Energy, founded with a vision to empower homes and businesses with energy independence, became well-known for its solar battery storage solutions and energy management platforms. In 2022, Swell Energy a California-based virtual power plant and raised $120 million led by the SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund I, bringing the total funding raised to $582 million. The company's approach focused on providing homeowners with a more resilient energy system, utilizing advanced battery technology paired with solar installations.

In 2023, due to rising operational costs and increased competition, Swell Energy shifted its business model. They opted to move away from solar installations and instead focused on energy management platforms, allowing third-party installers to handle customer solar systems while Swell developed software to optimize energy use in homes with solar and battery installations.

Swell Energy Company Profile:

Swell Energy Address:

  • Headquarters: 11701 Wilshire Blvd, Suite 2175, Los Angeles, CA 90025

History:

  • Founded: 2014
  • Restructured: 2023

Employees:

  • As of 2022: Approximately 150

CEO:

  • Suleman Khan

Total Battery Systems Installed:

  • As of 2022: Over 10,000 systems

Motto:

  • "Empower Your Home. Transform Your Energy."

Top Questions Swell Energy Customers Have Asked:

1. What happens to my Swell Energy system and warranty?

If you had a Swell Energy system installed, the hardware and equipment warranties for your battery storage system are still valid. Swell’s shift in business does not impact the warranties provided by battery manufacturers, such as Tesla Powerwall and LG Chem. You can contact the battery manufacturer directly for any warranty claims.

Although Swell no longer installs systems directly, they continue to support energy management software, ensuring your system runs efficiently. For installation or service-related issues, third-party solar companies that work with the same battery storage solutions, such as Forme Solar, can provide service and support.

2. What happens to my Swell Energy financing agreements?

If you financed your solar or battery storage system through Swell Energy’s financing partners, your payment agreement remains intact. Swell Energy’s restructuring does not cancel or alter these agreements. You will continue to make payments to the financing company, and the terms of your loan or lease will still apply.

In the event that Swell sold or transferred any financing agreements, you will be notified by the new entity that has acquired your contract. For ongoing system maintenance, you will need to contact a qualified solar installer, as Swell no longer provides installation services.

3. How do I monitor my Swell Energy system?

Swell Energy’s Grid Services Platform remains fully operational. You can still use the Swell mobile app or website to monitor your energy production and consumption, view system performance, and manage energy storage. The software continues to be updated, and Swell is focusing more on this platform to optimize energy use in homes equipped with solar and battery systems.

For any troubleshooting or setup issues related to the monitoring system, contact Swell’s customer support team for assistance.

4. Can I add more solar panels or expand my battery system?

If you're looking to expand your system by adding more solar panels or batteries, you will need to work with a licensed solar installer. Since Swell Energy no longer installs these systems, a reputable solar company like Forme Solar can help you with system expansion, including integrating additional battery storage or solar capacity into your existing setup.

Are You a Swell Energy Customer in Need of Service?

If you were a customer of Swell Energy and your system requires service, you are not without options. Although Swell Energy has transitioned out of the direct installation business, many of the components they used, such as the Tesla Powerwall, are serviced by third-party providers. Any warranties on those products remain valid through the manufacturers, and companies like Forme Solar can step in to provide ongoing maintenance and repairs for your solar and energy storage systems.

By restructuring, Swell Energy has shifted its focus toward energy management solutions and virtual power plants, providing cutting-edge software to optimize energy usage rather than installing new systems. However, third-party installers remain a reliable option for expanding or maintaining your solar and battery setup.

Resources and References:

If you require assistance with maintaining or expanding your existing Swell Energy system or VPP (Virtual Power Plant), contact Forme Solar at 714-694-2262. Our team has experience with energy storage and solar panel systems from various manufacturers, ensuring your energy independence continues to run smoothly.