RatedPower selected by the Elemental Excelerator Program to accelerate solar deployment in countries with lower access to electricity
We are delighted to share with you our latest news—RatedPower is joining the Elemental Excelerator Program!
Among 800 applicants, we have been selected to work hand-by-hand with Elemental towards a common mission: improving access to sustainable energy, accelerating energy transition while tackling pressing environmental issues and improving equitable access to technology in the world.
Who is Elemental and why have they chosen our project for this year’s Cohort?
Read on to learn about the impact of our project and the advantages of working directly with the Elemental Excelerator team.
Who is Elemental Excelerator?
Every year, Elemental Excelerator funds 15-20 companies with up to $1 million, in aim of improving systems that impact people's lives. Elemental Excelerator has worked with the best and brightest climate-tech startups and has a strong track record with 13 exits to date and $1.5 billion in follow-on funding. We are thrilled to be included in Elemental’s best-in-class portfolio of climate technologies and joining 18 other notable climate-tech companies working on innovations in energy, water, agriculture, transportation, and waste.
“It is a true honor to have been selected by the Elemental Program with some of the most innovative and brilliant minds in the clean tech industry to work towards developing our scope of work to the APAC region and grow ties in the American industry with the help of Elemental's prestigious Alumni” - Andrea Barber, CEO and Co-founder at RatedPower
Why have we been given this opportunity?
One of the great—if not greatest—challenges faced by humanity is climate change.
Worldwide, governments are in a hurry to accelerate the energy transition by investing in non-polluting energy resources and energy efficiencies.
The European Union has set objectives to achieve at least a 32% share of renewable energy or at least a 32.5% improvement in energy efficiency for 2030.
The energy sector is key to fighting climate change, with artificial intelligence and digitalization being some of the main tools for that.
"Expanding and maximizing the generation capabilities of utility-scale solar power will be a critical path toward lowering emissions and tackling climate change. We are excited to partner with RatedPower to push the limits of how technology can accelerate a widespread transition to renewable power." -Nneka Uzoh, Director of Energy Innovation at Elemental Excelerator
How do we help the fight against climate change?
According to a survey carried out by our clients, in just 3 years of RatedPower we have collaborated in the construction of 288 projects worldwide.
This translates into 17.3 GW of power generation, equivalent to the consumption of 9 million households worldwide. Additionally, this results in an annual reduction of 12 million of CO2 tons and an annual decrease of 18 million oil barrels.
All in all, materializing the goal of becoming the standard in the industry will have a real impact in the near future. By continuing our work towards lowering the energy price, pvDesign will boost solar energy to stand as the leading renewable energy source in the planet and accelerate the displacement of conventional energy sources.
How do we help countries with lower access to electricity?
In addition to the goal in becoming the standard software to design solar plants worldwide we also share Elemental’s ambition of supporting the development of communities with low access to electricity.
Did you know that to this day, there are still more than 940 million people without access to electricity in the world?
RatedPower has already collaborated in this fight by improving the design and optimization of 7 projects constructed in countries with the lowest ratio of access to electricity worldwide (<70% of population of the country). This translates into 420MW of solar energy distributed and 756 GWh of energy generated, which would be enough to bring light to 216,000 different families in Africa and SouthEast Asia.
The opportunity brought by the collaboration with Elemental Excelerator will provide us the means to introduce in pvDesign new developments to improve faster deployment of solar energy—not only in these areas—but worldwide.