Haven uses Arcadia’s energy storage modeling tool to calculate ROI for customers

Haven uses Arcadia’s energy storage modeling tool to calculate ROI for customers

Haven uses Arcadia’s energy storage modeling tool to calculate ROI for customers

Use case:

Haven uses Arcadia’s energy storage modeling to support residential battery proposals and asset leasing financial analysis.

Challenge:

Adding battery storage to a rooftop solar system can deliver major savings, but making those financial savings tangible for prospective customers requires a complex series of calculations leveraging historic customer utility bills and the latest utility tariff models. Haven needed a faster and more accurate way to model these savings — both to support their customers through the purchase process, and to de-risk their growth into new business models and geographic regions.

Solution:

Arc’s addition of storage modeling to its tariff calculation tools allows Haven to quickly produce accurate electricity cost savings estimates for its home battery sales proposals. With Arc, Haven can account for time-of-use plans, geography coverage, and rate updates to achieve greater granularity in their electricity cost-benefit calculations.

Benefits:

Arc's storage modeling capabilities within its tariff calculation tools improve the accuracy of Haven’s financial estimates and ROI projections for their customers and financial investors. Using Arc, Haven has been able to scale and improve their offering. 

The story:

Haven works with homeowners to pair their solar with at-home battery storage to provide uninterrupted power and energy savings. The Haven team uses Arc to develop their residential battery proposals and asset leasing financial analysis thanks to accurate storage modeling capabilities within Arc’s tariff calculation tools. 

Before they started using Arc, Haven modeled those savings manually. That meant they had to research the latest available utility tariff models and then perform a complex series of calculations, along with their own usage estimations, to determine the total energy cost savings potential. With Arc, Haven can create accurate sales proposals in a fraction of the time. More specifically, the new storage modeling tool in our Switch product allows Haven to account for battery specification, install configuration, rate design, and dispatch controls to achieve greater granularity in their electricity cost and savings calculations. This ultimately provides the customer with a complete, easy-to-understand picture of their expected return on investment. 

“Our previous storage models were only built for two utilities, so we knew we needed to build on top of a platform that would allow scalability for geographic coverage and tariff coverage,” said Jeff Chapin, Haven’s Founder and CPO. "With a tool like Switch, you can toggle the battery modeling to ‘on,’ move between rate plans, and actually see the difference in savings for the customer. The economic rationale for getting a battery is a complex thing to grasp, so being able to show personalized benefits to a homeowner can help them understand the 'why' of investing in energy storage."

Eli Bosworth, Haven’s Head of Engineering, added: “We luckily can now show detailed scenarios through Switch and gain customer trust around how the battery will operate and demonstrate the accuracy of our savings analysis.”

Demonstrating exact electricity cost-benefit modeling for battery storage will help Haven grow and scale — both by providing ROI clarity to customers and by de-risking additional investments. “Our business is taking on more risk with a leased battery asset model, which will require additional capital investment,” Chapin said. “Proper modeling is key to de-risking that investment. If we can demonstrate our ability to accurately model and deliver actuals, we will improve the economics of that business tremendously.”