Climate action

City of Houston joins forces with nonprofit to launch a citywide solar co-op

Houstonians can now opt into a citywide solar co-op. Photo courtesy of Houston Mayor's Office

One year ago, the city of Houston announced its Climate Action Plan and its goal to reach carbon neutrality by 2050. This year, the city has another Earth Day announcement that builds upon CAP.

Mayor Sylvester Turner and solar nonprofit group, Solar United Neighbors, announced a citywide solar co-op on Earth Day — exactly one year since CAP launched. For an update on the plan's execution in Houston, click here for a report from the Kinder Institute for Urban Research.

"As we celebrate Earth Day, I'm proud to welcome this community-driven initiative for local rooftop solar and thank Solar United Neighbors for being such a strong supporter of the Houston Climate Action Plan," says Mayor Turner in a news release. "I encourage Houstonians to take full advantage of this opportunity to learn more about the benefits of residential solar and how they can take part. Bulk buy programs like this will help our city meet our energy transition goals and grow local investment in renewable and resilient energy."

SUN is familiar with Houston, and, since 2018, the nonprofit has hosted six neighborhood solar co-ops in Spring Branch, Lake Olympia, East Houston, Central Houston, the Woodlands, and West Houston. According to SUN, Texas solar co-ops provide 569 kW of solar power, $1.64 million in local economic investment, and more than 18.4 million pounds of lifetime carbon offsets.

"The co-op will enable homeowners and business owners in and around the city of Houston to join the growing community of people taking control of their energy bills and improving grid resilience by harnessing solar power," says Hanna Mitchell, Texas program director for SUN, in the release. "Together, we're building a movement to transform our electricity system into one that is cleaner, fairer, and shares its benefits more broadly."

Data from Environment Texas shows that Houston's installed solar capacity has quadrupled from 2018 to 2020, and Houston is the nation's largest municipal user of renewable energy in the United States, according to the release. Additionally, Houston Permitting Center saw a 63 percent increase in solar installation permits from 2019 to 2020.

For more information on the co-op, visit SUN's Houston website. Or, sign up for one of the two information sessions on Thursday, May 6, at 6:30 pm, or Wednesday, May 19, at noon.

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Building Houston

 
 

Molecule has closed new funding in order to focus on the energy transition. Photo via Getty Images

A Houston startup with a software-as-a-service platform for the energy transition has announced it closed a funding round with participation from a local venture capital.

Molecule closed its $12 million series A, and Houston-based Mercury Fund was among the company's investors. The company has a cloud-based energy trading and risk management solution for the energy industry and supports power, natural gas, crude/refined products, chemicals, agricultural commodities, softs, metals, cryptocurrencies, and more.

"We led the seed round of Molecule upon their formation and are excited to participate in their series A," says Blair Garrou, co-founder and managing director of Mercury, in a news release. "Molecule's success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s."

The company will use its new funds to further build out its product as well as introduce offerings to manage renewables credits, according to the release.

"In 2020, we realized that electricity — the growth commodity of the 2020s — represented over half of Molecule's customer base, and we decided to double down," says Sameer Soleja, founder and CEO of Molecule, in the release. "We were also rated the No. 1 SaaS ETRM/CTRM vendor. With this fundraise, we have the fuel to become No. 1 SaaS platform for power and renewables, and then the market leader overall.

"Molecule is ready to power the energy transition," Soleja continues.

Molecule's last round of funding closed in November 2014. The $1.1 million seed round was supported by Mercury Fund and the Houston Angel Network.

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