California-based Revel Energy, a commercial solar and energy storage developer for the Southern and Central California markets, is looking to raise capital (a $5 million goal) via StartEngine crowdfunding.
Crowdfunding can be a win-win for all parties involved by providing needed capital for expansion while offering potential payoff or investment growth, all while helping businesses become more sustainable. Revel says the new crowdfunded capital opens up several opportunities primed by exceptionally high rising electricity costs, including expanding into other regions along the sun belt, self-funding special projects, and increasing its marketing efforts to educate customers.
“Offering equity to crowdfunding investors is a modern, innovative approach for our business to continue to grow while offering our friends, family, employees, customers and other investors the opportunity to join us along the way,” states Alan Lee, CEO of Revel Energy. “California and other southern states are poised for a boom in commercial solar. Positioning ourselves to capitalize on the potential demand is an exciting prospect for the future not only of our stakeholders but for the world as a whole. It is tough to deny that affordably lowering carbon emissions is a great thing.”
Revel Energy has had measurable success in the top solar market in the United States. In 2021 alone, the team commissioned almost 5 MW of rooftop, carport and ground mount solar. The systems help some of California’s most notable manufacturers, food processing, business parks and agricultural growers.
The Southern California commercial solar developer has seen 228% revenue growth from 2018 to 2021. Important to note, part of this growth was achieved during the peak of a global pandemic. With an adoption rate in the early stage for commercial and industrial businesses, the growth potential is substantial.
The rising importance of corporate environmental, social and governance (ESG) morals highlight the increasing need for financial investment to help establish these values.
For US businesses, carbon emissions standards have been seen as an expensive endeavor often passed on to consumers. In the case of commercial solar and energy storage, especially for sun rich states with high electricity rates, it makes sense not only environmentally but economically.