SHYFT Power Solutions is an energy technology company that develops IoT and software solutions to connect and intelligently manage distributed energy resources, particularly in markets struggling with grid reliability and resiliency. We initially focus on cities in emerging markets where frequent failures of the grid (blackouts) cause millions of people to generate and manage back-up power themselves.
Their initial focus is Nigeria, a country set to be the 3rd most populous country in the world but where intermittent power causes consumers to spend over $16B annually on back-up power, relying on over 60M privately-owned generators. This has created a vast distributed energy landscape, albeit one powered by costly, polluting generators. Although costs of solar and storage are decreasing, adoption is hindered as users have no way to simply monitor these hybrid systems or easily operate them as the standard is to manually switch sources. This ultimately calls for more flexible, intelligent systems and a path to clean, reliable and affordable energy solutions.
SHYFT allows homes, businesses and energy companies to remotely monitor, manage and control all their power sources (generators, solar, batteries and utility connections) from mobile or web applications while our software enables automation and seamless transitions, optimizing the hybrid system for cost, reliability and reduced emissions. The plug-and-play platform eliminates the need of the traditional transfer switch and allows communication+control of peripheral DERs. Actionable insights, analytics and revenue-grade metering provide an all-inclusive unit. Much like what Google’s Nest did for the thermostat, taking a dumb device, layering on intelligence and control, Solstice is doing for the transfer switch.