ImpactAlpha, August 26 — The raft of consumer savings and incentives in the Inflation Reduction Act for heat pumps, induction stovetops and other home electrification products could reduce electricity prices and accelerate the transition from fossil fuels.
This week, Lunar Energy emerged from stealth, having raised $300 million over two rounds led by U.S. solar company Sunrun and South Korean conglomerate SK Group. The company, founded in 2020 by former Tesla energy chief Kunal Girotra, is building a suite of hardware and software to help homeowners generate, store and control their own clean energy.
San Francisco-based Span, led by fellow Tesla veteran Arch Rao, raised $90 million earlier this year to reinvent the lowly circuit-breaker box.
Lunar plans to launch its home battery system that can control energy loads, by year end. The funding has helped Lunar acquire U.K.-based Moixa, which makes software to manage distributed energy resources. Japan’s ITOCHU and Honda, previous investors in Moixa, join Lunar’s group of investors.