Powering the Electrification Revolution: SPAN's Game-Changing Meter Extension

Powering the Electrification Revolution: SPAN Edge

SPAN, a Fifth Wall portfolio company, has just unveiled a groundbreaking new product with the potential to dramatically accelerate the electrification of homes across the nation. As investors focused on identifying and supporting transformative technologies for the global real estate industry, we at Fifth Wall are excited to share insights into why SPAN's latest innovation, a revolutionary meter extension, represents a significant leap forward in enabling a sustainable future.

For years, SPAN has been deploying its smart panel technology through channels like solar and HVAC installers, as well as homebuilders. Now, they are poised to scale their impact exponentially by integrating their technology directly with key utility infrastructure. Their newly developed meter extension offers a seamless and cost-effective pathway to whole-home electrification.

The Bottleneck: Outdated Electrical Infrastructure

Previously, achieving comprehensive home electrification – integrating solar, battery storage, EV chargers, and modern electric appliances – often required costly and disruptive electrical panel upgrades. This "open -heart surgery" could take an entire day or more and deter homeowners from adopting cleaner energy solutions. The limitations of existing electrical infrastructure presented a significant bottleneck in the transition away from fossil fuels in residential buildings.

SPAN's Solution: SPAN Edge

SPAN's new product, SPAN Edge, tackles this challenge head-on with remarkable simplicity. The meter extension is designed to be installed with the same ease and cost-effectiveness as a standard meter replacement. Imagine a process that takes just 15 minutes: the existing smart meter is temporarily removed, a collar (the meter extension) is placed, and the original meter is reinstalled.

This seemingly simple addition acts as a distribution box in every home, providing the necessary infrastructure to support full electrification. The meter extension connects via a purpose-designed pigtail to a separate SPAN gateway, a device that can be installed in about five minutes near the meter.

Key Advantages of SPAN Edge:

• Unlocking Full Home Electrification: Homeowners can now seamlessly add solar, batteries, EV chargers, heat pumps, and induction cooktops without the added cost and hassle of major panel upgrades.
• Simplicity and Speed of Installation: The 15-minute installation process is a game-changer compared to traditional panel replacements, significantly reducing labor costs and disruption for homeowners.
• Potential Cost Savings for Homeowners: The goal is for utilities to roll out this technology, potentially providing the meter extension and gateway to homeowners at no upfront cost.
• Benefits for Utilities and Grid Management: Utilities gain enhanced capabilities for balancing electrical loads across their network, improving grid stability and efficiency. The ubiquitous nature of smart meters provides a readily available interface for deploying this technology at scale.
• Accelerated Adoption of Clean Energy: By removing a major barrier to electrification, SPAN's innovation will likely lead to a much faster and more cost-effective transition towards sustainable home energy.
• Scalability and Lower Manufacturing Costs: The potential for large-scale deployment through utilities will enable SPAN to manufacture these products at higher volumes and lower costs, further supporting their mission of electrification for all.

Fifth Wall’s Investment Thesis

SPAN's new meter extension addresses a critical infrastructure need in the rapidly growing market for home electrification. By offering a solution that benefits both homeowners and utilities, SPAN has positioned itself for widespread adoption. The potential for utilities to integrate this technology into their infrastructure creates a massive addressable market and a compelling investment opportunity. The reduced complexity and cost compared to traditional panel upgrades make SPAN's solution particularly attractive for accelerating the transition to a decarbonized residential sector.

We believe that SPAN's innovative approach will be instrumental in powering the future of real estate, enabling a more sustainable and resilient energy ecosystem. We encourage you to watch the accompanying video for a deeper dive into this exciting development.