Venture capitalists are part of a group investing US$75 million in a US startup that offers home solar and battery systems through an electricity subscription, even as the residential market declines.

Daylight Energy, a US-based solar startup, raised the funds in a round that included US$15 million in equity led by Framework Ventures, with participation from Andreessen Horowitz, Lerer Hippeau, M13, Room40 Ventures, and EV3.

The US$60 million raised for project development from Turtle Hill Capital.

The company plans to use the funds to install solar panels and batteries in about 1,200 homes in Illinois and Massachusetts.

The US residential solar industry has seen a downturn due to high interest rates and reduced incentives in California, its largest market.

Several firms have restructured or declared bankruptcy, and installations are projected to fall 13% in 2026, according to the Solar Energy Industries Association and Wood Mackenzie.

🔗 Source: Bloomberg