In 2018, the American Council on Renewable Energy called for $1 trillion of private capital to be invested in renewable energy and enabling grid technologies by 2030 to fight climate change.
At the same time, American households control over $17 trillion dollars in their 401Ks and IRAs. How can Americans take part in the renewable energy transition through their existing retirement and long-term savings assets?
We can empower Americans to put some of their hard-earned savings into clean energy through an ennuity product. Similar to a traditional annuity, an ennuity provides a consumer with a guaranteed stream of benefits in return for an upfront payment. However, the benefits come in the form of electricity deliveries rather than as income. The ennuity payment is used to build the clean energy infrastructure that will generate and deliver electricity to the consumer year-after-year.
We are creating the ennuity product by bringing together experts in renewable energy, risk management, structuring, and finance.
We have developed a preliminary version of our envisioned ennuity offering, and we are setting up a new competitive retail electricity provider to bring this offering to consumers.