Geostellar operates an online solar energy marketplace that uses a patented instant, interactive solar profile to tailor solar equipment, installation and financing to each household. The company emphasizes a low-cost business model intended to lower the cost of solar and make it more competitive with conventional electricity, increasing homeowner savings. Geostellar offers the Solar Mojo app for iPhone and iPad and runs Solar Family, a social marketing program for a network of independent solar entrepreneurs. Proceeds from the recent financing will be used in part to expand Solar Family and to recruit, train and support independent Solar Professionals. The company is also kicking off a national search for the first “Solar Tycoon” and will hold Solar Power Happy Hour training events in select markets. Geostellar’s leadership framed the round as validation of its plan to disrupt the industry by providing low-cost electricity and harnessing entrepreneurial distributors. Geostellar offers proprietary geomatic and predictive-algorithm technology to assess solar potential and the financial return of on-site solar for residential and commercial properties. The platform automates site assessment tasks—roof slope and orientation, shading analysis, power-production modeling, system design and financial analysis—using 3D simulation to produce unbiased equipment, financing and installation recommendations. It also models utility rates, incentives and underwrites financing options such as leases, PPAs and loans, and assists with permits and rebates. Geostellar positions this automation to reduce origination and soft costs and to expand distributed solar generation markets. The company plans to extend coverage nationally by sourcing remote sensing data from strategic investor GeoEye and to accelerate delivery of its solar intelligence to homeowners and corporate facility managers. The announcement describes a new investment from strategic, financial and economic development sources but does not disclose financial terms or operating metrics in the article.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2016