Station A runs the most open, transparent and streamlined competitive process for onsite renewable energy projects in the US powered by the most extensive and engaged qualified provider network.
🤓 Marketplace Activity
Station A debuted its RFQ service and published 136 MW in potential project value in just the past 2 quarters
- Station A RFP project volume increased to 26 MW, up from 21 MW 2 quarters ago
- 92 unique provider orgs, 27 of them repeat bidders, have submitted 179 bids since we launched the marketplace in 2021
- We have expanded our market coverage for RFQs to all of the regions of the US and added a new market (Louisiana) to the 7 other markets where we have run an RFP (CA, OR, SC, CT, NY, IL, TX)
- We also added 2 new project types successfully matched in the marketplace — adding a successful community solar land lease and a community solar subscription project. This adds to the other 8 flavors of projects where we have made a successful match (Rooftop, groundmount and carport solar, EV charging, storage, all-cash and PPA & CS rooftop lease).
🦺 Highly visible RFQs
- RFQs have become a helpful tool for buyers looking to qualify their portfolios at scale with indicative market pricing. Not only does pooling potential project opportunity gain more visibility from providers but it also results in more participation, in part because the effort for providers to submit a bid is much less than in an RFP.
- On average, Station A RFQs are viewed 242 times, with 119 disclosure downloads and 17 bids.
- The RFQ bid spread (difference between a high and low bid) is $700k per site
⚖️ Competitive RFPs
- On average, Station A RFPs are viewed 113 times, with 52 disclosure downloads and 6 qualified bids.
- With the market impacted by inflation, supply chain constraints and a higher cost of capital, we were not surprised to see an increasing amount of variation between the low and high bids for Station A's RFPs. As of the Fall '23, the RFP bid spread (difference between a high and low bid) reached $1.1m, which was up from $900k 2 quarters ago.