WeaveGrid and FranklinWH Partner on Home Energy Management
Software provider WeaveGrid and energy storage company FranklinWH have partnered to enable utility management of residential battery systems. The collaboration will integrate FranklinWH home batteries into WeaveGrid's software platform, allowing utilities to use them as a flexible grid resource. The system aims to help manage energy loads on constrained transformers and feeders.
- San Francisco-based WeaveGrid was founded in 2018 and has raised $78.2 million in funding from investors including Toyota's growth fund, Woven Capital, and Salesforce Ventures. - FranklinWH, founded in 2019 and headquartered in San Jose, CA, has raised $25 million in a Series B funding round. The company's core product is an AI-powered home energy management system called the Franklin Home Power solution. - The partnership allows utilities to leverage residential batteries for "demand response" programs, which are increasingly used in California to prevent grid emergencies. Utilities like Southern California Edison and SDG&E offer homeowners financial incentives to share energy from their batteries during peak demand. - This collaboration represents a market expansion for WeaveGrid, which has primarily focused its software on managing the grid impact of electric vehicle charging. - The residential energy storage market is experiencing significant growth, with one forecast projecting the market to expand from $2.69 billion in 2024 to $4.58 billion by 2030. - For utilities, using software to orchestrate home batteries is a lower-cost alternative to spending billions on new grid infrastructure to handle increased electricity demand. - FranklinWH reports that it has already onboarded over 1,000 installation companies for its home energy systems across the United States.
