Palmetto Clean Technology

Palmetto Clean Technology

Installs and maintains residential solar systems

Overview

Palmetto Clean Technology focuses on providing residential solar energy solutions in the United States. It installs and maintains solar power systems for homeowners, enabling them to generate their own electricity and reduce monthly utility costs. The systems work by placing solar panels on the home, which convert sunlight into electricity that powers the house and can be fed back to the grid. Palmetto also offers maintenance plans and helps clients take advantage of tax credits and incentives (up to 26% of system cost), improving the financial return. The company differentiates itself by offering end-to-end residential solar services nationwide, including assistance with financing and incentives, and by emphasizing how solar investments can raise property values and speed up home sales. Its goal is to help homeowners save money, lower emissions, and increase property value through solar energy.

About Palmetto Clean Technology

Simplify's Rating
Why Palmetto Clean Technology is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consulting

Energy

Company Size

501-1,000

Company Stage

Grant

Total Funding

$2B

Headquarters

Charlotte, North Carolina

Founded

2009

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Simplify's Take

What believers are saying

  • July 8, 2026 backup launch targets 25 states and outage-driven demand.
  • May 20, 2026 Loren Padelford appointment strengthens consumer growth and partnerships.
  • May 28, 2026 Finturf deal expands contractor financing reach and approval volume.

What critics are saying

  • Palmetto depends on tax-credit monetization; IRS rule changes crush margins quickly.
  • Tesla, Enphase, and Sunrun sell batteries and solar directly, squeezing Palmetto's partners.
  • If subscription churn rises, Palmetto's asset-heavy platform loses cash before scale.

What makes Palmetto Clean Technology unique

  • Palmetto bundles solar, batteries, HVAC, and financing into one consumer marketplace.
  • July 8, 2026 Energy Backup Plan offers battery backup with zero upfront cost.
  • February 27, 2026 $250 million ITC sale shows institutional financing access.

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Funding

Total Funding

$2B

Above

Industry Average

Funded Over

9 Rounds

Notable Investors:
Grant funding comparison data is currently unavailable. We're working to provide this information soon!
Grant Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

Paid Parental Leave

401(k) Retirement Plan

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

-1%

2 year growth

-1%
Sugar Hollow Solar
Aug 19th, 2026
Want to make a difference? Start with solar energy.

Want to make a difference? Start with solar energy. Everyone has their own reasons for going solar. The motivations usually include: lowering their power bills, gaining more predictable energy costs, increasing energy independence, or making a positive impact on the environment. And for many homeowners, it's all of the above! For Asheville resident Kelly Sheehan, the motivation behind solar energy was primarily putting her environmental values into action. For more than 25 years, she has been committed to protecting natural resources through sustainable choices and climate advocacy. When it came time to consider solar for her home, she wanted a solution that reflected those values. Like many homeowners, Kelly was looking for an option that made financial sense for her while supporting a cleaner future. Through Sugar Hollow Solar's new Residential Solar Lease Program, in partnership with Palmetto LightReach, Kelly was able to install a custom solar system with $0 down. Kelly's project demonstrates how today's flexible financing options are making clean energy more accessible than ever, empowering more homeowners to reduce their environmental impact while enjoying the long-term benefits of solar! A new way to solar. For years, the upfront cost of solar has been one of the biggest barriers for some homeowners interested in making the switch. But homeowners today have more options. As part of Amicus, the industry-leading solar cooperative, Sugar Hollow Solar has been able to secure best-in-market lease rates and terms through Palmetto LightReach. As policies and incentives evolve, residential solar leasing has become a powerful way for homeowners to go solar with confidence. With $0 down, maintenance included, immediate savings, and predictable monthly costs, this program helps make solar more accessible to homeowners. It's designed to make clean energy simple, affordable, and straightforward! And for Kelly, this flexibility made all the difference. "I looked into solar before and unfortunately, I didn't have the upfront money to put down to put the solar panels on my house. So, leasing provided an awesome opportunity for me to be able to have solar on my rooftop without putting any money down. It's exciting to know that I will be able to participate in the clean energy economy and I don't have to put thousands of dollars down to get going." - Kelly Sheehan, Climate Activist & Sugar Hollow Solar Leasing Customer Kelly's story shows that going solar doesn't have to mean choosing between your financial priorities and your environmental values. With a lease, she was able to bring renewable energy into her home! And the positive impact doesn't stop at her monthly energy bill... The impact of one solar installation. Solar systems generate clean, renewable electricity that can help reduce reliance on fossil fuel-generated power and lower associated greenhouse gas emissions. While one solar installation may seem like a small step, the collective impact of choosing renewable energy can add up in a big way. Based on projected system production, Kelly's solar installation is expected to provide significant environmental benefits over its lifetime, including the equivalent of: * 183 barrels of oil offset * 2,019 trees planted (equivalent) * Annual emissions from 1 gasoline-powered vehicle While these environmental benefits continue to grow as the system generates clean energy throughout its 25-year lease agreement, Kelly will also enjoy long-term energy savings and greater predictability in her monthly utility costs! Be your own Climate Activist. Climate action can take many forms. It can mean changing the way Sugar Hollow Solar Inc. live, supporting local businesses, advocating for policy changes, or making choices at home that contribute to a cleaner future. For Kelly, solar was one more way to turn her commitment to the environment into action. "I think it's a great time to go solar. We know that the costs of electricity are only going to keep going up, and solar can buffer us from those rising costs. It is an opportunity to create our own homegrown energy, to support the local clean energy economy, and be part of creating clean air, clean water and a stable climate." - Kelly Sheehan Your energy choices make an impact, at home and beyond! One easy way you can share the sunshine and be a climate activist is its two-way, win-win referral program running through October. You can learn about it here! Every solar panel installed, battery backup integrated, and decision made toward sustainability creates a ripple effect that extends far beyond its neighbors, and this is your opportunity to play a role in the green revolution. If you're interested in seeing how simple its solar lease program can be or how to participate in its referral program, reach out today. Its team is happy to help and answer any questions you may have!

PR Newswire
Jul 8th, 2026
Palmetto launches $0 upfront battery subscription to power homes during US grid outages

Palmetto has launched the Energy Backup Plan, a subscription service that provides whole-home battery backup without upfront costs. The offering addresses growing outage concerns as the UN warns of more severe summer storms during this El Niño year. Approximately four million US rooftop solar systems currently lack battery backup and go dark during grid outages. Traditional battery ownership requires over $16,000 upfront, whilst Palmetto's subscription includes premium storage, automatic backup during outages, and a 12-year hardware subscription with maintenance covered. Customers can use the Palmetto app to set backup reserve levels and store energy to avoid peak utility rates. The plan is available in 25 states, targeting both new customers and existing solar system owners seeking resilience upgrades.

Finturf
May 28th, 2026
Finturf announces Palmetto partnership, expanding financing network to broaden clean energy options for contractors.

Finturf announces Palmetto partnership, expanding financing network to broaden clean energy options for contractors. GLENDALE, CA, UNITED STATES, May 28, 2026 - Finturf, the all-in-one contractor sales tool connecting the largest home improvement financing network in the United States, announced a partnership with Palmetto, America's leading consumer energy platform focused on expanding access to HVAC, battery storage, solar and energy-efficient home solutions. This partnership marks a significant milestone in Finturf's mission to broaden contractor access to competitive financing options while strengthening its network. Through this collaboration, Palmetto's financing offerings will be integrated directly into Finturf, giving contractors expanded access to clean energy-focused capital solutions within a single, streamlined application. Finturf's expanded financing network enables service professionals to present more options at the kitchen table, increase approval rates, and accelerate funding timelines, all while reducing operational friction. "Expanding our financing network with a forward-thinking clean energy leader like Palmetto represents a meaningful step forward for Finturf," said Cinda Lawson, Head of Lender Partnerships at Finturf. "As homeowner demand for sustainable upgrades continues to grow, contractors need flexible, competitive financing options that meet the moment. This partnership strengthens our ability to deliver exactly that." Palmetto's innovative platform is designed to accelerate clean energy adoption by simplifying how homeowners and contractors access energy-related solutions. With Palmetto's ecosystem now connected to Finturf's network, contractors can more confidently offer financing for energy upgrades that might otherwise be delayed. "Great financing should be fast, flexible, and simple for contractors and homeowners alike," said Machias Schoen, Senior Vice President, Head of HVAC & Heat Pump at Palmetto. "Partnering with Finturf brings Palmetto's clean energy financing into one streamlined workflow, helping contractors expand approvals, reduce friction, and move more projects from estimate to installation." At the heart of this partnership is access to Palmetto's Comfort Plan - a subscription-based HVAC-as-a-Service leasing model that enables homeowners to upgrade to high-efficiency heating and cooling systems with no upfront costs, including 10 to 12 years of worry-free comfort, annual maintenance, and no labor or parts costs. For contractors, the model goes beyond the initial install. They're paid annually to perform scheduled maintenance and are first in the door when it's time for replacement, turning a single job into a long-term customer relationship. About Finturf Finturf is the all-in-one contractor financing tool built to help home service professionals close more deals without giving up control of their financing strategy. Designed to simplify and accelerate the sales process, a single application connects contractors to the industry's largest home improvement financing network in the United States, while allowing them to choose which offers they present, set dealer fee tolerances, and retain existing lender relationships. Teams can manage approvals, change orders, and funding requests across lenders on a unified platform. By removing friction at the kitchen table while keeping contractors in control behind the scenes, Finturf helps drive higher approval rates, protect margins, and win more jobs. About Palmetto Palmetto is a consumer energy platform dedicated to making the clean energy transition simple, accessible, and affordable for American families. Through its digital-first marketplace, Palmetto connects homeowners with vetted clean-energy partners and flexible financing solutions for solar, storage, HVAC, backup power, and energy-efficient appliances. The company's mission is to enable millions of households to reduce utility costs, increase energy resilience, and achieve energy independence. Media inquiries: Veronica Walsingham [email protected] Veronica Walsingham is the Director of Content at Finturf, where she combines her background in payment processing with her experience in journalism to craft clear, engaging content for both businesses and consumers. Her work has been featured in The New York Times, The Washington Post, and other notable publications. At Finturf, she leverages her unique blend of payments industry insight and journalistic storytelling to help readers better understand today's financial landscape. She specializes in turning complex financial concepts into informative, accessible, and compelling content.

Yahoo Finance
May 20th, 2026
Palmetto appoints Loren Padelford as president to lead consumer energy growth

Palmetto, America's leading consumer energy platform, has appointed Loren Padelford as President, Consumer Energy. He will lead the company's consumer growth strategy, including platform development, marketing, partnerships and customer support. Padelford brings extensive experience scaling consumer and SMB platforms. He previously served as Chief Revenue Officer at Slice and Chief Commercial Officer at BILL. Before that, he spent nearly seven years at Shopify, where he built Shopify Plus from inception and led the global revenue organisation managing over 1,500 people across 175 countries. The appointment follows Palmetto's recent hire of Chief Financial Officer Liz Coddington. Through its digital marketplace, Palmetto connects homeowners with clean-energy partners and financing solutions for solar, storage, HVAC and energy-efficient appliances.

American Press
May 20th, 2026
Palmetto appoints Loren Padelford as President, Consumer Energy.

Palmetto appoints Loren Padelford as President, Consumer Energy. PR Newswire Today at 3:00am PDT Platform Veteran Joins to Lead Consumer Growth as Company Enters Next Stage of Expansion CHARLOTTE, N.C., May 20, 2026 /PRNewswire/ - Palmetto, America's leading consumer energy platform, today announced the appointment of Loren Padelford as President, Consumer Energy. In this role, Padelford will lead Palmetto's consumer growth strategy - including platform R&D, full funnel consumer marketing, partnerships and customer support - as the company accelerates its mission to make energy simple and affordable for American homeowners. Padelford brings a track record of building and scaling consumer and SMB platforms at some of the most recognized technology companies in the world. Most recently, he served as Chief Revenue Officer at Slice, the technology platform powering more than 15,000 independent pizzerias across the country, where he led commercial growth across the company's merchant acquisition and ecosystem expansion. Prior to Slice, he served as Chief Commercial Officer at BILL, the financial operations platform serving small and mid-sized businesses, where he oversaw revenue strategy across the company's suite of payment and cash flow products. Before that, Padelford spent nearly seven years at Shopify, where he built Shopify Plus - the company's enterprise commerce solution - from the ground up and ultimately led Shopify's global revenue organization, managing a team of more than 1,500 people across sales, marketing, and account management in over 175 countries. "Loren has spent his career doing exactly what Palmetto needs right now - building platforms that make complex decisions simple for the people who depend on them," said Chris Kemper, Founder and CEO of Palmetto. "His experience growing merchant networks at Shopify and Slice, and his instinct for platform-first thinking, will be invaluable as we expand our reach and deepen our relationship with American homeowners." Padelford's appointment follows Palmetto's recent addition of Chief Financial Officer Liz Coddington, continuing the company's investment in senior leadership to support its next phase of growth. "Palmetto is a generational company, uniquely positioned to transform how Americans understand and access lower energy bills," said Padelford. "We are in the largest shift in energy markets since the introduction of electricity itself, and the opportunity in front of Palmetto is enormous. I'm here to help drive that change." About Palmetto Palmetto is a consumer energy platform dedicated to making the clean energy transition simple, accessible, and affordable for American families. Through its digital-first marketplace, Palmetto connects homeowners with vetted clean-energy partners and flexible financing solutions for solar, storage, HVAC, backup power, and energy-efficient appliances. The company's mission is to enable millions of households to reduce utility costs, increase energy resilience, and achieve energy independence. For more information, visit palmetto.com. SOURCE Palmetto Clean Technology, Inc. This is a paid placement. For further inquiries, please contact PR Newswire directly.

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