More and more companies are creating renewable energy initiatives to lower their electricity bills, cash in with tax credits, and contributions to their ESG objectives. Stem has emerged as a leader in clean energy storage and distribution, forging deep customer relationships with many Fortune 500 companies. Sometime early in 2021, Stem will go public via a reverse merger with Star Peak Energy Transition Corp (NYSE: STPK) — and the combined company seems likely to beat the market for three crucial reasons.
Renewable energy sources such as solar and wind face a vital problem: intermittency. Weather changes, the sun rises and sets, and the power they produce just isn’t available all the time. Stem’s battery storage systems address that problem, storing energy as it’s made and distributing it in those moments of intermittency. Customers such as Apple, Amazon.com, UPS, Alphabet, Facebook, Home Depot, and Walmart have all lowered their electricity costs and benefited from tax credits due to using Stem’s battery storage systems.