The solar asset management space is primed to kick off and there are some early-stage companies that may be seeking capital.
A recent Frost and Sullivan research report vaues the US solar asset management space at $62.1 million in 2018 and projects the market to reach $198.4 million in value by 2025.
The report suggests the key factors currently driving the market is the proliferation of US solar energy and the need to manage existing portfolios much more efficiently. The total installed cumulative solar capacity in 2018 is approximately 62 GW and is projected to be 114 GW in 2022.
The US market is projected to see CAGR of 18.1% over the 2018-2025 period. Currently, the market sits in a high growth stage with an increasing number of competitors. We’ve already seen successful exits by Locus Energy and Powerhub. In anticipation of future successful exits, we scoured a variety of crowdfunding sources and capital market research platforms to outline eight potential targets for solar power investors.
kWh Analytics
kWh Analytics is the market leader in solar risk management. By leveraging the most comprehensive performance database of solar assets in the United States (20% of the U.S. asset class) and the strength of the global insurance markets, kWh Analytics’ customers are able to minimize risk and increase equity returns of their solar portfolios. kWh Analytics is backed by private venture capital and the US Department of Energy.
FOUNDER: Richard Matsui
TOTAL RAISED: $7.5M
LATEST ROUND: Series A (Sep 2016)
INVESTORS: Larry NG, Anthemis Group, Chuck Wallace, Ben Tarbell, Van Skilling, Bryan Tsao, US Department of Energy
Radian Generation
RadianGEN is an independent solar asset management and advisory firm focused on the commercial and utility-scale solar photovoltaic (PV) sector. Lens™ is RadianGEN’s proprietary cloud-based technology platform designed and built to deliver the best practices of our industry experts to your assets.
FOUNDER: Joe Kastner
TOTAL RAISED: Undisclosed
LATEST ROUND: May 2016
INVESTORS: Solar Plus International (Solar Plus)
Ra Power Management
Ra Power Management helps solar developers and investors price and manage their assets. RPM bridges the gap between solar developers and investors, aligns their priorities and gets them speaking the same language. The platform empowers clients to efficiently scale and manage their financial and operational workflows. Price contracts. Value assets. Automate reporting. Streamline data collection. Eliminate costly errors.
FOUNDER: Aaron Iverson
BPS Asset Management
The BPS Asset Management and Monitoring Software has been developed for PV Asset Managers and Owners with diverse portfolios who require a single system of reference to operate effectively and efficiently. BPS takes the raw data from Solar Plants and makes it into useful information for Asset Managers and Owners. BPS also forecasts the future financial and performance data, compares historical data to the forecasts, and tracks spare parts, workorders, outages, etc. for each Solar Plant.
FOUNDER: Ben Hall
3megawatt
3megawatt’s BluePoint solar portfolio management software helps fund and asset managers to control operating risks and reduce management costs. BluePoint is a comprehensive cloud-based tool for contract management, compliance management, claim administration, PPA invoicing, project company administration and financial performance reporting. 3megawatt’s clients use BluePoint to manage over 1,100 operational commercial, industrial and utility-scale solar plants (>2 Gigawatt) worldwide.
FOUNDER: Edmée Kelsey
Arbox Renewable Energy
Arbox is an innovative clean-tech company that develops software to solve problems in the renewable energy sector. The company’s flagship product Hap is an asset management platform designed for asset managers.
FOUNDER: Farid Najafi
TOTAL RAISED: $100,000
LATEST ROUND: October 2016
INVESTORS: Undisclosed
VALUATION: $1M
Volga Solar Solutions
Solar Asset Management, Operations, and Maintenance.
FOUNDER: Karthik Guduru
Mercatus
Mercatus is the pioneer of the category-defining Energy Investment Lifecycle Management (ILM) software that enables energy producers to fully digitize their asset investment and management process from the origination of an asset through the end of its lifecycle. Built specifically for global energy producers, ILM is a single solution that increases cross-functional team productivity, expedites the origination-to-operation process and gives management real-time access to portfolio performance and risk metrics across the lifecycle.
FOUNDER: Haresh Patel, Tim Buchner
TOTAL RAISED: $27.2M
LATEST ROUND: February 2017
INVESTORS: TPG, Traverse Venture Partners, Vision Ridge Capital Partners, Trepp
