September 2022
Member Spotlight
Throughout 2022, SECC will recognize one member every month, providing an organizational profile and highlighting the member's accomplishments in the smart energy space.
About Electrum
Electrum was founded in 2014 with the mission of empowering consumers to adopt sustainable technologies through transparency and choice. Electrum transforms the residential home electrification shopping experience by providing an online and customer-focused managed marketplace. The core focus of the marketplace is as follows:
- Create a simple, transparent and enjoyable purchasing experience for the residential customer.
- Accelerate the adoption of home electrification products, allow utilities to lead the electrification transition and aggregate DERs to enhance grid stability.
- Enable contractors to provide a high-quality installation experience for customers by providing technology and customer support services.
Marketplace Highlights:
Plug and Play Custom Marketplace
Electrum offers their marketplace as a customizable and utility-branded experience so that utilities can provide home electrification support to customers in their territory. Currently, they offer residential solar, energy storage, electric vehicle chargers (EVSE) and heat pump water heater (HPWH) products to be included in the marketplace individually or in any combination.
Electrum’s utility marketplaces are product-neutral, meaning customers can choose from a variety of equipment and brand options that suit their needs. The competitive marketplace structure ensures customers receive the best economics for their home electrification project.
Solar & Storage Calculator
Customers visiting any of Electrum’s marketplaces to purchase solar and energy storage can use Electrum’s proprietary solar and storage calculator to input their average energy bill, desired financing preference and the number of energy storage systems desired for their home electrification project.
The calculator will use the inputs to present the customer with the monthly bill savings, amount of backup power provided by the energy storage system, the system cost, net cost per month, incentives available, electricity savings per year and an energy and carbon impact summary for their project.
Streamlined Purchase & Installation Services
Customers visiting the marketplace to purchase solar, energy storage, HPWHs or EVSE are presented with three bids from three different installers with multiple equipment options. Electrum generates instant online installation quotes for customers providing assurance of economics as well as ability to immediately schedule a site visit.
Dedicated Energy Advisors
Electrum’s Energy Advisors provide personalized customer support beginning with an initial consultation call and continuing throughout the installation of the home electrification project, providing education, unbiased advice and ensuring that the customer finds the best deal. After a contract is signed, Electrum’s Customer Success team manages the post-sale process and acts as the point of contact between the installer and customer throughout installation.
Rebate & Incentive Processing
Electrum aggregates and streamlines the administration of all applicable rebates and incentives. When applicable, they work with state-approved agencies to provide instant rebates at point-of-sale.
Product Training & Contractor Coordination
Electrum leverages relationships with manufacturers in order to provide up-to-date training on products for contractors in their network. This ensures that installers have expertise in each of their product offerings.
Electrum has spent considerable time building a network of electrification-friendly contractors that work together for installations of products such as HPWH, which often require both plumbing and electrical work.
Case Study: Southern California Edison
Electrum launched a solar and storage marketplace for Southern California Edison (SCE) in 2020, which has since been highly successful. Electrum’s customizable and education-focused experience is highly valued by marketplace customers and has been shown to improve customers’ overall view of their utility, as has been demonstrated by survey data from Southern California Edison’s Solar and Storage marketplace:
“Our mission is to help homeowners electrify with confidence. How successful were we in achieving this goal?”
“After your visit(s) to the SCE Marketplace website, how has your overall opinion of Southern California Edison as a company changed?”
