EnergyBin, an online platform owned and operated by Broker Exchange Network, reported successful achievement of objectives set forth in the Department of Energy SunShot Initiative grant parameters at the close of the grant period ending March 31, 2018. EnergyBin was awarded a $700,000 SunShot Initiative Award in 2016.
Since launching the EnergyBin online community marketplace in September of 2016, all DOE SunShot Initiative goals have been achieved or exceeded, including most notably a significant decrease in residential and commercial project capital costs of 20+% on equipment. For example, 355-watt Seraphim panels listed on EnergyBin in March for $0.56 per watt compared to a distributor's list price of $0.99. Enphase micro-inverters listed on EnergyBin in February for $0.51 per watt compared to a distributor's list price of $0.66.
"As membership grows and more inventory is uploaded by users, we expect to see costs continue to drop and user profit margins increase," remarked Renee Kuehl, Director of Sales and Marketing, "In fact, we have already seen significant cost-saving results from users connecting on the site."
For instance, this past April, a large EPC/Installer company based in New York joined EnergyBin with the hope of selling a quantity of 1,200 new 60- and 72-cell modules ranging from 180W to 280W to clear much-needed warehouse space. In the beginning of May, the company uploaded the inventory to EnergyBin. Within hours, Solar PV Pros, a distributor and project facilitator located in California, saw the inventory and purchased the entire quantity, noting that these hard-to-find legacy panels were in high demand among their residential solar customers.
In addition to lowering soft costs, EnergyBin brings together companies across the supply chain to network and share market intelligence. Because SunShot funds are meant to make it faster, easier and more affordable for Americans to choose solar energy in their daily lives, the EnergyBin online community plays a crucial role in breaking down silos that exist throughout the industry, thus providing endless opportunities for users to collaborate on new projects and ensure they have real-time data on the supply and demand of products.
"Using EnergyBin has shown me that there are powerful tools out there that are easy to use, will save me time and get me what I need when I want it," commented John, founder of Hello Solar, a developer based in New York, who uses EnergyBin for his solar component procurement needs and networking.
Although EnergyBin far exceeded its Sunshot Initiative objective of 500 users by March 31, at which time, 790 users had signed up, the next phase will require more effort to extensively build awareness throughout the industry. "Currently, EnergyBin comprises nearly 1,000 users with a new member monthly growth rate of 20%," noted Kuehl, "But we know more education is needed in the industry about the benefits that EnergyBin has to offer in order for the platform to truly transform the industry the way it is meant to."
EnergyBin has plans to ramp up its marketing and public relations efforts and will be exhibiting at InterSolar (Booth 7238) and Solar Power International (Booth 2977).
EnergyBin.com is the leading B2B member-only community and online marketplace for the solar industry that provides trusted, centralized access to the most competitively priced components. EnergyBin facilitates the brokering, movement and commerce of new, excess, used, refurbished and legacy solar components and provides critical supply-chain intelligence. As a U.S. Department of Energy SunShot Initiative awardee, EnergyBin has excelled in lowering residential and commercial project capital costs by 20+% on equipment. EnergyBin users are like-minded professionals working together to advance solar throughout the world. To learn more or receive a tour of the platform, contact EnergyBin at (866) 241-0639 or email@example.com.