Palmetto Enters New York State's Residential Solar Market And Expands into the Electric Vehicle Charging Market

Palmetto company offers both residential solar and electric vehicle charging to New York residents

NEW YORK , April 7, 2022 /PRNewswire/ -- Palmetto, a clean energy platform leveraging proprietary technology designed to drive the adoption of renewable energy like solar power, today announced they have entered the New York State residential energy market. Palmetto's software reduces soft costs and drives demand by offering lower prices and better service to consumers.

Currently ranked 11th, the New York market typically ranks among the top ten U.S. solar markets, according to the Solar Energy Industries Association. In New York State, $7.7 billion has been invested in solar (as of quarter 4, 2021) and to date, over 150,000 residential solar installations have been completed. This contributes towards New York State's goal to use 70% renewable energy by 2030.

To accelerate its market penetration in the New York market, Palmetto joined up with New York-based operator PlugPV, now a Palmetto subsidiary.  The company will now be able to offer industry leading pricing on residential solar in New York State by leveraging Palmetto's existing clean energy platform as well as providing the option for electric vehicle charger installation.  PlugPV's leadership team will continue to operate autonomously in their operations while integrating Palmetto's software capabilities. Together, the organizations are bringing pricing and cost synergies to the New York market.

"We are reaching a point whereby we're extremely geographically diversified, which brings many benefits to our platform model. The solar market is a fluid policy environment, which can be difficult for operators without diversification. We welcome the expansion to New York which helps us take one more step towards a well-designed, diversified portfolio of geographical market distribution; a huge thanks to our geographical expansion and policy team, specifically Ryan Barnett: he's done an amazing job, said Chris Kemper, Palmetto Chairman, Founder, and CEO. "When we looked at market and product expansion, we found a tremendous synergy with one of the best-in-class operators, PlugPV, which we expect to maintain and support as a wholly-owned subsidiary and key partner in a handful of markets, including New York. It's a meaningful partnership with best-in-class operations that can help us scale and deliver a better consumer experience."

"We're excited to join forces with Palmetto to bring best-in-class renewables to consumers across the country," said Shane Nolan, PlugPV CFO & Co-founder. "Shifting the energy paradigm in the United States will take companies like Palmetto and ours working together to accelerate the transition to clean energy."

Chris Kemper founded Palmetto after years working with the world's leading organizations on climate change. Through Palmetto, Kemper has aligned stakeholders–including policymakers, investors, business leaders, financiers, demand channels, local operators and consumers–in his call for a New Utility Revolution and a shared mission of leading the world into a clean energy future.

For more information about Palmetto and its services, please visit: www.palmetto.com.

About Palmetto
Palmetto is a clean energy platform, with proprietary technology designed to make it easier and more affordable for homeowners to source their energy from renewables like solar power. Palmetto believes that choosing clean energy sources is a right, not a privilege. Palmetto is leading the call for a New Utility Revolution, which is focused on the democratization of energy. The Company continues to innovate with proprietary products that reduce costs and drive widespread distribution of simple energy management solutions. Palmetto is a triple bottom line, fully distributed company with teammates throughout the United States. For more information, please visit www.palmetto.com.

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SOURCE Palmetto