Morgan Babbs shares vision for Popular Power after funding round

Popular Power launched a B2B platform for solar companies to optimize monitoring, alerts, analysis, and performance tracking. The solution unifies critical functions in a single interface, enhancing efficiency for solar providers.

The company secured pre-seed funding from Amplifica Capital, Cerulean.vc, 0bs.mx, Dunn Family Impact Capital, and Mercy Corps Ventures. Founded in August 2023 by Morgan Babbs, Popular Power monitors 36 MW of solar sites and plans to expand its team, attract new clients, and accelerate product development.

Hybrytec, a photovoltaic project developer, reports improved decision-making and customer satisfaction using Popular Power’s platform. The solution helps solar firms manage alerts, plan maintenance, and automate reporting for comprehensive operational visibility.

Popular Power’s B2B SaaS model charges a monthly fee based on credits. Pro plans start at $99 USD/month for 100 credits, usable for solar site monitoring, automated reporting, savings calculations, and weather data. Costs increase with usage volume but become more efficient per site. Enterprise plans offer customization options.

The company operates in Mexico, the United States, and Colombia, with plans to strengthen its presence in the Americas. Popular Power’s platform is globally ready, serving clients worldwide, including a project in South Sudan where grid electrification is only 4%.

To protect intellectual property, Popular Power implements patent registration, proper trade secret management, and clear agreements with suppliers and clients regarding license use and scope. The founding team’s 25 years of combined experience in solar energy across four countries provides a competitive edge in understanding client challenges.

Popular Power aims to integrate AI functions by late August, including trend identification in solar site portfolios, alert searching, predictive analysis for performance and maintenance, and platform usage assistance. The company focuses on practical features to help clients predict failures, enhance competitiveness, and improve end-user service.

With a 100% client retention rate and zero churn, Popular Power has experienced upselling, increasing MRR by over 25% since inception. Key performance indicators include a 5% revenue increase for clients, 15% savings in operational costs, and 75% time saved on manual processes.

The platform offers instant onboarding for Pro version users, while Enterprise clients requiring more customization may have a 2-6 week implementation process. Popular Power utilizes U.S.-based cloud security platforms, firewalls, and endpoint protection, along with regular updates and vulnerability testing.

To attract and retain talent, Popular Power offers a 4-day work week, competitive salaries, gender balance initiatives, and liberal maternity and paternity policies with a minimum of 3 months paid leave and extension options.

The company is targeting solar energy firms in residential and commercial/industrial segments, with a focus on those managing at least 50 residential sites or 3 C&I sites planning to double capacity in the next year. Popular Power’s solution is particularly relevant for companies looking to monetize their O&M activities.

As the solar industry experiences rapid growth, with projections indicating 20% of global electricity demand coming from solar by 2024, Popular Power is positioning itself to support this expansion. The company’s focus on the Americas aligns with regions experiencing fast solar energy growth.

Popular Power is committed to empowering the energy transition, particularly in countries where solar energy is set to grow rapidly. The company’s platform aims to help solar businesses install more clean, affordable kilowatts for end-users, contributing to the decarbonization of electrical infrastructure.