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Today’s Highlights:
🔝Top Story: SolarSquare Secures $40M Series B to Power India’s Residential Solar Revolution.
💲Investment: The EU invests €4.6 billion in net-zero technologies, Canada commits $265 million to clean energy projects, and Amogy raises $11.2M in a challenging funding environment for mid-stage climate startups.
🔬 Innovation: A Simon Fraser report urges Canada to focus on utility-scale solar, while Dr. Like Li receives a $3.8M DOE grant for solar energy storage.
🔄 Integration: Australia introduces a $6.7B hydrogen tax incentive, while Net Zero Teesside Power starts a £4B carbon capture project to generate 742 MW by 2028.
💡 Intelligence: 10 Notable Renewable Energy Investors in 2024.
SolarSquare Secures $40M Series B to Power India’s Residential Solar Revolution
Image Credit: SolarSquare
Funding Boost and Expansion Plans
SolarSquare raised $40 million in a Series B funding round led by Lightspeed and Lightrock, with participation from Elevation Capital, Lowercarbon, Rainmatter, and Gruhas Proptech. The funds will enable the company to expand operations to 50 cities, double its workforce, and invest in technology, branding, and talent acquisition, positioning it to strengthen its leadership in India’s residential solar market.
Market Leadership and Revenue Growth
As India’s leading residential solar brand, SolarSquare has reported rapid revenue growth, from ₹81 crore in FY22 to ₹170 crore in FY24, with expectations to double by FY25. The company’s full-stack service model, covering design, permits, financing, installation, and maintenance, has served over 20,000 homes, earning trust for its customer-centric approach and scalability.
Investor Confidence and Future Potential
SolarSquare’s investors, including Lightspeed and Elevation Capital, highlight its operational efficiency and critical role in advancing India’s clean energy goals. With supportive policies and rising consumer interest in renewable energy, the company is poised to accelerate the adoption of solar power across Indian homes, reinforcing its market dominance. Read More
Investment Highlights of the Day
- The EU invests €4.6 billion in net-zero tech, EV batteries, and renewable hydrogen to drive climate neutrality by 2050. Read More
- Canada invests over $265 million in Saskatchewan clean energy projects, including Indigenous-led solar initiatives, to boost renewable power, create jobs, and lower energy costs. Read More
- Amogy raises $11.2M of a $90M round, reflecting funding challenges for mid-stage climate startups. Read More
Innovation Highlights of the Day
- Canada should prioritize utility-scale solar mega-projects over decentralized systems to accelerate its green energy transition, according to a Simon Fraser University report. Read More
- UCF’s Dr. Like Li receives a $3.8 million DOE grant to develop a novel thermochemical energy storage system, aiming to improve solar energy reliability and support the clean energy transition. Read More
Integration Highlights of the Day
- Australia introduces a $6.7 billion Hydrogen Production Tax Incentive to boost renewable hydrogen development and attract investment. Read More
- Balfour Beatty and Costain are set to begin £4bn construction work on a carbon capture project at Net Zero Teesside Power, with operations expected by 2028. Read More
- Net Zero Teesside Power has entered the execution phase, with construction starting in 2025, aiming to create thousands of jobs and generate 742 MW of low-carbon power by 2028. Read More
Climate Insider Intelligence: 10 Notable Renewable Energy Investors in 2024
Renewable energy is everywhere, but harnessing it? That’s a different story. Dive into the complexities of this booming sector and discover how major investors like Energy Impact Partners, Shell Ventures, and Breakthrough Energy Ventures are fueling the future of green power. From solar to geothermal, these leading players are betting big on the next wave of clean tech. Want to know who’s driving the change? Check out our list of 10 top renewable energy investors and how they’re shaping the green revolution. Read More
