Solstice raises $3.1 million
Solstice , a software and customer management company dedicated to bringing affordable solar power to every household in America, has closed an oversubscribed $3.1 million funding round. The funding was led by Total Carbon Neutrality Ventures with additional investments from American Family Insurance Institute for Corporate and Social Impact, Massachusetts Clean Energy Center, Schneider Electric Ventures, Next Wave Impact, Active Impact Investments, Powerhouse Ventures, Gratitude Railroad, H/L Ventures, SustainVC, Halcyon Angels, and prominent angel investors.
The funding will be used to expand Solstice’s operations to additional states in 2021. Initially, Solstice will focus on Illinois, Massachusetts, New York, Maine, New Jersey, with more states quickly following. Solstice connects households and community organizations to “community solar”- shared solar farms that are installed in a centralized location where local residents can enroll in a portion for free, without any home installations, and enjoy guaranteed savings on their monthly utility bill.
“The benefits of renewables have mainly accrued to higher-income homeowners over the last several decades, and there has never been a more urgent time to democratize access to the green economy. Solstice has worked for years to put solar within reach of excluded households, and we are excited to partner with our investors to accelerate an equitable transition to clean energy.” – Steph Speirs, Co-Founder and CEO.
“We are pleased to renew our support to Solstice in its mission to both facilitate access to renewable electricity for all and accelerate the deployment of renewable energy. The company plays a key role in this ecosystem, as an effective orchestrator between the project developers and local energy consumers, but also with local business or community partners eager to promote clean energy.” – Edouard Bulteau, Principal at Total Carbon Neutrality Ventures.