Climate and Clean Tech | February 21, 2024

Eli snags $6.8 million to help consumers electrify their homes

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, February 22 – Sales of heat pumps have outpaced gas furnaces in the US for the second year in a row. But green upgrades are arduous for consumers who must navigate a gauntlet of new technology, installation issues and financing options. The Inflation Reduction Act offers thousands of incentives, rebates and tax credits for people looking to buy heat pumps, solar panels, EV chargers and other green appliances.

California-based Eli wants to streamline the process of electrification for consumers. Its product offerings are directed at the contractors, installers, utilities and other organizations that consumers typically look to for guidance.  

Eli founder Jeff Coleman said the company “is building the digital infrastructure to streamline access to capital for consumers wishing to decarbonize.”

Eli “can make unlocking the IRA’s trillions feel like a smooth consumer experience,” added Shawn Xu of Lowercarbon Capital, which co-led the $6.8 million seed round with Spero Ventures.