Stepwise
Residential electrification one step at a time
Idea in Climate Tech
Introduction
Stepwise makes residential electrification accessible to homeowners today while managing the grid capacity of the future. As homes add EV chargers, heat pumps, or electric stoves, the need for electrical upgrades increases and presents a practical constraint for many homeowners. A $600 charger can cost $6000 to install today. Our device reduces the cost of installations by 50-75% by using energy management to unlock unused capacity in the electric panel.
Problem
Electrification is happening; people are increasingly buying EVs, batteries, heat pumps, induction cooktops, smart water heaters for their homes. However, these things are currently difficult to install because our electrical infrastructure is dumb and unconnected. As a result, electric panels often need to be upgraded to accommodate the installation of these devices, which is labor intensive and leads to high installation costs (e.g., $600 for an EV charger, $6000 for an installation). Many people, including wealthier Tesla buyers, actually turn away from electrification because of the high upfront involved. It is estimated that 48M single family homes across the US alone will require this type of costly upgrade, and millions more in the multi-family space. Also, once the appliances are installed, there is no way to optimize for usage due to the lack of connectivity across them.
Opportunity
Stepwise makes residential electrification accessible today by reducing the friction and cost around installations while preparing for the grid of tomorrow. We created an energy management device to unlock unused capacity in the electric panel and digitize the electrical infrastructure to reduce friction in the home electrification process. The solution comprises of sensors, actuators, and software. First we are able to monitor the energy usage of the home in real time, which unlocks additional electrical capacity. Next, we have real time controls to modulating the energy that goes to your downstream devices, such as an EV charger. By doing this, we can shave peaks in the home's total energy usage to keep it below the capacity of the panel, thus offering an alternative to the upgrade. The innovation in our offering is both our product and our go-to-market strategy.