AI for solar
High customer acquisition costs are a widely recognized problem in residential solar today. On average 17% of a system's purchase price is used to cover the installer’s sales and marketing expenses. Contrast this to the auto industry, where only 4 percent of the purchase price of a car is used to cover sales and marketing cost. This works out to a solar installer paying roughly $3,000—or $0.40 to 0.50 per watt—on marketing per deal. The key to reducing this cost is more effective targeting through the use of AI. Over the course of 18 months, Faraday proved the value of this approach as a Department of Energy SunShot awardee, including verification by NREL.
Where should I plan my customer acquisition events? Who should we target on social media? Faraday can deliver you the right events and right targets.
Trying to make sense of your lead funnel? Want to give priority to your best opportunities? Faraday can bring sanity to inbound noise by bringing the most valuable prospects to the front of the line.
Which of my customers is a good candidate for storage or energy efficiency upgrades? We can identify cross-sell opportunities and deliver you the right information to ensure that you're finding the right customers that will upgrade and stay with you.
Let's figure out when to encourage energy efficient upgrades based on predictive analytics.
Did a hot lead go quiet on you? Faraday can predict when and if they'll be ready to come back to the table.
- 2× lead conversion rate
- 4× campaign engagement rate
- ⅓ total ad spend
- 5× lead gen volume
The Faraday platform is core to our operations and has helped reduce costs and increase efficiency
Chief Commercial Officer, finance industry