King Energy

About King Energy

King Energy installs, owns, and operates solar infrastructure on multi-tenant commercial properties like shopping centers and office buildings. The company's business model addresses the "split incentive problem," where landlords are unmotivated to invest in solar since tenants receive the energy savings. King Energy resolves this by renting unused roof or parking lot space from property owners, installing solar systems at its own expense, and selling the discounted clean energy to tenants. This creates a new rental income stream for property owners, increases property value, and provides tenants with lower energy costs.

The company was founded by CEO John Witchel, who gained insights into the solar market during his time at SolarCity. His experience in finance and renewable energy, including co-founding Prosper Marketplace, informed King Energy's approach. The company's core technology is the OneBill™ software platform, which manages the allocation and consolidated billing of solar and utility-supplied electricity for multiple tenants from a single solar installation. This platform, combined with project financing and long-term management, positions King Energy as a single-source solar partner.

Operating in multiple states across the U.S., King Energy manages nearly 200 energy programs covering over 25 million square feet of tenant space. The company has secured significant funding to fuel its expansion, including a $10 million round in October 2024 led by ArcTern Ventures. Its business model avoids upfront costs for property owners and tenants, making clean energy adoption more accessible and financially viable for the commercial real estate sector.