GE Competition Awards Alternative Energy Companies

by Antonio Pasolini on June 28, 2011

Photo: GE

Last week General Electric unveiled the winners of the second round of its Ecomagination Challenge: Powering Your Home. The 10 winners will receive a cool $36 million prize. Most of the elected companies are in the software business but two of them work in the alternative energy field.

SunRun, a top national solar company, was one of the recipients. The company owns, installs, and maintains home solar panels so customers don’t need to invest thousands of dollars in them. They also lock in low solar electricity rates for 20 years, protected from unpredictable utility rate increases. SunRun says it installs more than$1 million in solar every day.

“We invented a way for homeowners to get clean power without having to pay big upfront costs, and this recognition acknowledges our leadership in solar finance, service, and customer care”, said SunRun CEO and co-founder Edward Fenster.

The Challenge has produced nearly 5,000 submissions from a community of 74,000 innovators since its phase one launch in July 2010. Through phase two’s “Powering Your Home,” GE and its venture capital partners will invest $63 million in and develop commercial partnerships with ten innovative home energy technology companies. SunRun is the only organization among these companies that focuses on photovoltaic home solar.

The other renewable energy company was GMZ Energy, a Waltham, MA-based outfit. Its technology can turn waste heat into power to be used in air conditioning, heat pumping and solar thermal energy conversion.

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