Newly Spun-Off Community Solar Company Offering Retail Energy Shopping Service; Fee Based On Shared Savings
February 18, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Perch Energy, which has launched as an independent company focused on accelerating access for customers to community solar and renewable energy after being spun off from BlueWave Solar, recently launched a, "direct-to-consumer digital platform that offers greater choice in clean energy options and exceptional value through continuous market analysis."
Specifically, Perch in select markets offers a retail energy shopping service. Current markets include New York and Massachusetts
"We monitor the market every week to find you the best supply rates. We change your supplier as soon as we find a better rate for you," Perch says on its website for the service.
Notably, Perch charges a monthly fee for its service that is based on the savings found for the customer (the fee is 25% of the savings in several markets reviewed by EnergyChoiceMatters.com), though the fee won't exceed $10
For standard plans, Perch calculates the estimated savings for purpose of the shared savings calculation based on comparing the customer's current Perch-selected Supplier rate to (i) the customer's current supply rate at time of enrollment (for the customer's first Perch switch to a new supplier) or (ii) known and projected utility default or basic service rates (for the customer's second and subsequent Perch switches to a new supplier), and then (iii) multiplying the difference by the customer's predicted future usage, which is based on the customer's historical usage.
For renewable plans, savings are calculated by comparing the current Perch-selected Supplier rate to (i) the customer's lowest electricity supply rate during the previous six months, if the customer was enrolled in a 100% renewable product at the time of signing up with Perch, or the "Perch Green Index", if the customer was not enrolled in a 100% renewable product at the time of signing up with Perch (for the first service switch implemented by Perch), or (ii) the Perch Green Index (for the second Perch service switches and all additional switches during the term of the Agreement).
Perch's website also states, "While Perch will ensure you save money on an annualized basis, Perch cannot guarantee that on any particular day you will always be on the lowest cost plan available."
Customers sign an agency agreement with Perch for Perch to choose their supplier
Concerning the retail market, Perch says on its website:
"You can save money by choosing your supplier, but it takes a lot of effort.
"You need to shop the market
"Supply rates go up and down and need your constant attention.
"You need to become a contract expert
"Suppliers may hike prices after an introductory peiod [sic], or they put you on variable rate.
"You need to switch suppliers regularly
"Waiting on hold. Hustling with customer service. You don’t have time for that.
"We can help you save -- without the effort.
Having been spun off, Perch said that it, "will build upon its successful, industry-leading community solar services and management platform, add talent and resources to expand its innovative direct-to-consumer energy platform, and scale its community solar services business into a growing list of U.S. markets."
To date, Perch has enabled more than 6,300 community solar subscriptions for homes, businesses, and municipalities
"We are excited to be at the forefront of expanding access to community solar and clean energy, and soon, to communities that have been historically deprived of energy choice," said Ravi Thuraisingham, acting CEO of Perch Energy. "We look forward to bringing our tools for easier access to renewable energy to more communities."