About three million solar installations take place annually in the United States, but the industry is often plagued by high prices and a lack of openness. The goal of Enact Systems, based in Pleasanton, California, is to improve communication and cooperation between installation teams and their customers. There is a sales side that allows for remote solar system design, pricing, and sale, and a customer side that allows for remote system management, energy monitoring, and financial outcomes tracking.
Enact states that it has over 1.5 billion in annual project volume and thousands of users in over 20 countries. The company has announced that it has raised 11.5 million in a Series A round from investors including Energy Growth Momentum, NB Ventures, ARKA Venture Labs, Olympus Capital, Alumni Venture Funds, and angel investors.
Before launching Enact, Deep Chakraborty and Manasij Kar led solar divisions at Centrosolar and QCells India, two of the world’s leading solar companies, respectively, in the United States and Asia. They left their previous jobs in 2014 to establish Enact.
Chakraborty stated that the motivation behind the creation of Enact was to improve the solar and energy storage buying, leasing, and ownership processes for end users. Enact’s founders claim that the company’s productivity tools and data analytics can help solar businesses cut down on soft costs and rapidly expand their business.
Every solar installer in the United States and 20 other nations can use the Enact platform. They range from small businesses with as few as five employees working on single-family homes to multinational conglomerates with thousands of employees working on commercial and industrial projects all over the world, all using Enact.
The majority of Enact’s U.S.-based installers cater to residential clients. However, Chakraborty told TechCrunch that the situation is more nuanced in international markets. In Asia, many of Enact’s integrators are publicly traded conglomerates whose sole business is serving commercial and industrial customers; in other markets, such as the United Arab Emirates and South Africa, integrators use Enact for both residential and commercial customers.
Through the use of a few key features, Enact can aid installers in speeding up the deal-closing process. By employing energy modelling techniques, the Enact Installer app evaluates the potential of solar and storage projects. Additionally, it works with satellite imagery to aid in creating 3D visual models of rooftop and ground solar installations. It is possible for installers to use this data to create comprehensive bids. Chakraborty estimated that the entire procedure would take no more than 5 minutes.
The Enact Platform also enables real-time tracking of end-user interactions and digital proposals. It prompts potential customers to upload energy bills or share usage data, for instance, so that the installer can provide more accurate savings estimates.
Enact’s consumer app, for example, keeps customers updated on changes in generation and connectivity, translates electricity generation into dollars saved, and helps customers save money by estimating monthly, annual, and lifetime savings. Customers gain more trust in the process when they are able to compare their actual savings with the estimates as they use their solar systems over time.
According to Chakraborty, less than ten U.S. software companies have raised capital and scaled up in the solar and storage software platform space, which is still in its infancy. Aurora Solar, which is solely concerned with solar energy, faces competition from Enact’s Installer app. Similarly, Geli, an early competitor that also specialised in energy storage and was acquired by the massive OEM Hanhwa QCells in August of 2020, was also in the market.
Solargraf, acquired by Enphase, and Sighten, acquired by NextEra, are two other examples of competitors becoming acquirers.
According to Chakraborty, Enact stands out from the competition because of its two-sided platform that enables B2B and B2B2C revenue, scalable architecture with strong data-layer for predictive analytics, and the most comprehensive end-to-end workflow far the entire project lifecycle.