Mayank Patel
Feb 26, 2024
5 min read
Last updated Feb 26, 2024
Renewable energy is the future of the world. It has positive effects on the environment and the economy. According to the International Renewable Energy Agency (IRENA), renewable energy could generate $98 trillion in cumulative global GDP by 2050. That’s why many tech companies and leaders are investing in this sector, hoping to create innovative solutions that can address the energy challenges of today and tomorrow.
But who are the top players in the renewable energy field? Which startups are making waves with their cutting-edge technologies and business models? In this blog post, we will introduce you to the top 8 renewable energy startups in USA, based on their funding, impact, and potential. We will also share some insights and tips on how you can learn from their success and apply them to your own business.
Moxion Power is a startup that develops and deploys mobile energy storage systems for renewable energy projects. Their systems are designed to provide reliable and flexible power for remote locations, such as construction sites, mining operations, or disaster relief areas. Moxion Power’s systems can also be used to integrate renewable energy sources into the grid, reducing carbon emissions and grid congestion.
Moxion Power has raised $25 million in Series A funding in 2023, led by Breakthrough Energy Ventures, a fund backed by Bill Gates and other prominent investors. The startup plans to use the funds to expand its product portfolio and market presence, as well as to hire more talent.
Moxion Power’s solution is a great example of how renewable energy can be made more accessible and affordable for various applications. By providing mobile and modular energy storage systems, Moxion Power enables renewable energy to be used anywhere, anytime, and by anyone.
Crusoe Energy is a startup that converts natural gas flaring into electricity for cryptocurrency mining. Natural gas flaring is a common practice in the oil and gas industry, where excess gas is burned off at the well site, resulting in wasted energy and harmful emissions. Crusoe Energy’s solution is to capture the flared gas and use it to power mobile data centers that mine cryptocurrencies, such as Bitcoin or Ethereum.
Crusoe Energy has raised $128 million in total funding, including a $70 million Series B round in 2023, led by Valor Equity Partners and Lowercarbon Capital. The startup claims to have eliminated over 100,000 tons of CO2 emissions since its inception in 2018, and aims to reach 1 million tons by 2025.
Crusoe Energy’s solution is a clever way of turning a waste product into a valuable asset. By harnessing the power of blockchain and cryptocurrency, Crusoe Energy creates a new revenue stream for oil and gas producers, while reducing their environmental impact.
Cherry Street Energy is a startup that provides clean and affordable energy to customers in Georgia. Their model is based on power purchase agreements (PPAs), where they install, own, and operate solar panels on customers’ properties, and sell them the electricity generated at a fixed rate. Cherry Street Energy’s customers include schools, churches, businesses, and municipalities.
Cherry Street Energy has raised $12 million in total funding, including a $5 million Series A round in 2023, led by The Social Entrepreneurs’ Fund. The startup has installed over 50 solar projects across Georgia, totaling over 20 megawatts of capacity.
Cherry Street Energy’s solution is a great way of promoting solar energy in a state that has traditionally relied on fossil fuels. By offering PPAs, Cherry Street Energy eliminates the upfront costs and risks for customers, and provides them with long-term savings and environmental benefits.
TPI Composites is a startup that manufactures composite products for the renewable energy, transportation, and industrial markets. Their products include wind blades, electric vehicle components, and water pipes. TPI Composites uses advanced materials and processes to create lightweight, durable, and cost-effective products that meet the needs of their customers.
TPI Composites has raised $232 million in total funding, including a $100 million Series B round in 2023, led by Element Partners and GE Ventures. The startup has 14 manufacturing facilities in nine countries, and has supplied over 68,000 wind blades and 10,000 electric vehicle components to date.
TPI Composites’ solution is a great way of supporting the growth and innovation of the renewable energy and transportation sectors. By producing composite products, TPI Composites helps reduce the weight, fuel consumption, and emissions of wind turbines and electric vehicles, while increasing their performance and reliability.
Tesla is a well-known startup that designs, manufactures, and sells electric vehicles, battery products, and solar solutions. Their products include the Model S, Model 3, Model X, and Model Y cars, the Cybertruck, the Semi truck, the Powerwall, the Powerpack, and the Solar Roof. Tesla aims to speed up the world’s shift to sustainable energy.
Tesla has raised $25.5 billion in total funding, including a $5 billion equity offering in 2023. The startup has delivered over 2 million vehicles and installed over 3 gigawatts of solar capacity worldwide.
Tesla’s solution is a great way of transforming the energy and transportation sectors with innovative and integrated products. By creating electric vehicles, battery products, and solar solutions, Tesla provides customers with a complete and seamless energy ecosystem that can power their homes, businesses, and vehicles with clean and renewable energy.
Green Fuel Technologies is a startup that produces renewable diesel and jet fuel from waste oils and fats. Their process uses a proprietary catalyst and reactor to convert low-quality feedstocks, such as used cooking oil, animal fat, or grease, into high-quality fuels that are compatible with existing engines and infrastructure. Green Fuel Technologies’ fuels reduce greenhouse gas emissions by up to 80% compared to fossil fuels.
Green Fuel Technologies has raised $150 million in total funding, including a $100 million Series B round in 2023, led by BP Ventures and Chevron Technology Ventures. The startup has built a commercial-scale plant in Louisiana, with a capacity of 160 million gallons per year.
Green Fuel Technologies’ solution is a great way of creating renewable fuels from waste materials. By converting waste oils and fats into renewable diesel and jet fuel, Green Fuel Technologies reduces the dependence on fossil fuels, and creates a circular economy that benefits both the environment and the society.
Alto Ingredients is a startup that produces low-carbon renewable fuels and chemicals from corn and other biomass. Their products include ethanol, specialty alcohols, and bioproducts, such as corn oil, distillers grains, and carbon dioxide. Alto Ingredients’ products can be used for transportation, industrial, and consumer applications, such as fuel additives, solvents, cosmetics, and beverages.
Alto Ingredients has raised $200 million in total funding, including a $75 million Series B round in 2023, led by Temasek and BlackRock. The startup operates nine production facilities in the USA, with a combined annual capacity of 605 million gallons.
Alto Ingredients’ solution is a great way of producing renewable fuels and chemicals from biomass. By using corn and other biomass as feedstocks, Alto Ingredients reduces the carbon intensity and lifecycle emissions of their products, and creates value-added co-products that can be used for various purposes.
Sunrun is a startup that provides residential solar, battery, and energy services. Their model is based on leasing or selling solar panels and batteries to homeowners, and managing their energy usage and savings. Sunrun also offers grid services, such as demand response, frequency regulation, and capacity markets, to utilities and grid operators.
Sunrun has raised $1.9 billion in total funding, including a $250 million Series C round in 2023, led by Coatue and Sequoia Capital. The startup has over 550,000 customers and 3.9 gigawatts of installed solar capacity in the USA.
Sunrun’s solution is a great way of empowering homeowners to take control of their energy needs and costs. By providing residential solar, battery, and energy services, Sunrun enables homeowners to generate, store, and manage their own clean and renewable energy, while also contributing to the grid stability and resilience.
If you are a renewable energy company looking for a custom software development partner, you should look for one that has the following qualities:
We can help you with your software development needs, whether you need a web app, a mobile app, a desktop app, or a cloud-based solution. we can also help you with product design, testing, deployment, and maintenance. we can add value to your product, prioritize founder insights and user feedback, and keep themselves updated with the latest and most advanced technologies.