What do Drake, LeBron James, Billie Eilish, and Bono have in common? A few years ago, they were among the high-profile names backing Palmetto, a clean energy startup aimed at expanding access to residential solar for American households.

At the time, the bet aligned with a fast-growing residential solar market — valued at an estimated $9.1 billion as of 2020 — and a belief that clean energy adoption could be scaled not only through technology and financing, but through cultural relevance. The investment also landed during a broader clean energy boom, fueled by supportive federal policy, abundant capital, and cultural momentum. Since then, the energy landscape has shifted. Political leadership has changed, regulatory priorities have evolved, and clean energy companies are now being tested in a more complex environment.

Since the fanfare that early celebrity backing helped generate has faded, Positive Current took a closer look at Palmetto — examining where it stands in today’s more complex clean energy landscape.

What is Palmetto Energy?

Palmetto is a U.S.-based clean energy company focused on expanding access to residential solar and home energy technology. The company helps homeowners adopt rooftop solar by pairing digital tools with flexible financing and a network of local installers, aiming to remove many of the cost and complexity barriers that have historically slowed adoption. Rather than manufacturing panels, Palmetto operates as a platform — handling energy modeling, customer acquisition, financing, and long-term system management.

The company’s modern growth story took shape in the early 2020s, but Palmetto itself was founded earlier by Christopher Kemper, who had spent years working on distributed clean energy projects globally. As the U.S. residential solar market matured, Palmetto repositioned itself around a consumer-facing model designed to make solar feel more like a service than a construction project. That shift laid the groundwork for the company’s breakout moment.

In 2022, Palmetto drew national attention after reports revealed a funding round backed by a roster of high-profile cultural figures, including Drake, LeBron James, Maverick Carter, Billie Eilish, Finneas O’Connell, Jimmy Iovine, Arnold Schwarzenegger, and Bono. The celebrity involvement didn’t just add name recognition — it signaled a belief that clean energy adoption could benefit from mainstream cultural alignment, not just climate policy or utility incentives.

From Buzz to Balance Sheets

In recent years, the company has secured more than $1 billion in financing partnerships to expand its residential solar and storage offerings, particularly its LightReach program, which allows homeowners to go solar with little or no upfront cost. The company has also completed large asset-backed securitization deals tied to long-term solar agreements, a sign that institutional investors view its business model as mature enough to support structured finance at scale.

Palmetto has also broadened its ambitions beyond installation alone. In 2025, the company launched a consumer-facing energy app designed to help homeowners better understand and manage their energy use. It has also moved into climate media by acquiring The Cool Down, a sustainability-focused digital platform — a signal that Palmetto sees education, engagement, and consumer trust as core parts of accelerating clean energy adoption.

Notably, while Palmetto’s early celebrity backers remain part of its origin story, recent reporting on the company emphasizes institutional capital, financing vehicles, and operational growth rather than star power. That shift reflects a broader reality in clean energy: visibility may open doors, but scale is built on execution.

Where Palmetto Stands Today

Today, Palmetto operates across multiple U.S. states, positioning itself at the intersection of residential energy, fintech-style financing, and digital consumer tools. Its evolution mirrors a wider trend in the energy sector, where startups that once relied on novelty and narrative are increasingly being judged by their ability to deliver reliable, affordable solutions at scale.

For Palmetto, the transition from celebrity-backed startup to serious clean energy platform may ultimately be its most important milestone. The cultural cache helped people pay attention. What matters now is whether the company can continue turning that attention into long-term adoption — and whether its model offers a glimpse of how residential clean energy reaches its next phase of growth.