Solstice develops customer acquisition, enrollment, and subscriber management solutions for the community solar industry, including financing innovations to expand access for underserved communities. The company created EnergyScore, a machine learning–based qualification metric that combines utility payment history and customer data to better predict subscriber bill payment behavior. Solstice says EnergyScore outperforms FICO in early analysis of nearly 875,000 customer records, reducing default rates by 1.9 percentage points and increasing qualification of LMI households by 14%. The company plans to design dynamic monitoring and evaluation frameworks to mitigate bias in the model and to recruit pilot partners with residential solar financiers or developers later this year. Solstice offers a frictionless subscriber management software platform and aims to bring community solar to households that cannot support rooftop systems. Founded by women of color in 2016 and originally based in Cambridge, Massachusetts, Solstice positions itself as an advocate for energy equity. Solstice Power Technologies is a Cambridge, MA-based software and customer management company that connects households and community organizations to community solar. Its platform lets local residents enroll in portions of centralized shared solar farms for free without home installations and offers guaranteed savings on monthly utility bills. Solstice’s software manages the end-to-end customer experience for the life of 20-year renewable energy projects on behalf of developers and financiers, from customer enrollment to billing/crediting and ongoing engagement. The company has generated demand for 111 MW of clean energy across 25 community renewable projects, representing the environmental equivalent of not burning 31 million pounds of coal. Solstice closed a $3.1M funding round and intends to use the funds to expand operations to additional states in 2021. Led by Co-Founder and CEO Steph Speirs, the company is initially focusing on Illinois, Massachusetts, New York, Maine, and New Jersey.

Total raised

$3M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2021