Solar Analytics
Smart solar power monitoring to make the most of your home energy
$2.5M
Round Size
$2.46M
Raised to date
0
Days left
The Pitch
Smart solar power monitoring to make the most of your home energy
Round Size
Solar Analytics is a green-tech start-up that provides solar energy management services for rooftop solar photovoltaic (PV) energy systems. Founded in 2013 by a team of world-leading solar experts, Solar Analytics has developed and patented a cloud-based data and analytics platform to optimise local solar energy production and consumption.
This is an investment opportunity to subscribe for units in an Australian trust (VentureCrowd Trust) that will become a shareholder in this Series B funding-round on the same key terms as lead investors in Solar Analytics Pty Ltd (Solar Analytics).
Key Features:
Wholesale
Offer Type
Series B
Funding Round
$2.5M
Round Size
$18M
Pre-Money Valuation
Pref Shares
Security Type
$0.602
Security Price
Energy & Renewables ● Renewables ● Solar Energy ● B Corp
Solar Analytics have demonstrated market leading growth and with their recent global partnerships are primed for continued expansion both locally and internationally.
Peter Los
Chief Investment Officer of investment firm Eye Management
Solar Analytics was founded in 2013 out of the frustration that Stefan Jarnason (CEO) had with making sure he was getting peak performance from his new rooftop solar system. Anchored in solving this problem for customers, Solar Analytics changes how people interact with their energy by providing insight into a home’s energy profile including optimising solar production, energy consumption and savings opportunities. With Ausgrid data showing that 51.8% of 8,000 Solar PV systems perform below capacity the problem is a common one.
Initially working with utilities providers including AGL, Solar Analytics has helped over 20,000 customers to maximise their solar energy production. Since launching in 2015, their continued focus on delivering an exceptional customer experience has created an average 95.9% renewal rate per annum (revenue weighted across their utility, residential and commercial channels).
Solar Analytics’ Solar Smart Monitor measures energy flows and provides real-time data to their customers dashboard. A cloud-based data and analytics platform, the Solar Analytics dashboard allows users to monitor their energy production and consumption in real-time from anywhere. Their patented algorithms, developed in conjunction with CRC and UNSW, means solar panel faults are detected immediately instead of at the end of quarterly cycles.
Having started in Australia, in three years Solar Analytics has grown their solar reseller partners to over 750 nationally, and their revenues in this channel from $7.5k to $177k per month, and total revenue to $3.8 million last financial year. Utility partnerships have been extended to include five utility partners across Australia and New Zealand.
Having completed an initial market testing and obtained the required product certifications, they are now expanding into the USA in-market with 120 sales in five states and well progressed negotiations with a number of significant USA distribution partners. They are also in discussions with partners in Japan, Ireland and Singapore.
Solar Analytics provides insight into an entire home or building’s energy profile, including solar production, energy consumption, savings calculations, notifications, actionable insights, performance monitoring and more. Solar Analytics helps customers see how much money can be saved per day, week, month and year throughout the life of solar panels. As a result users can see the return on their solar investments and are able to plan for their electricity needs - including understanding their optimal battery solution to reduce their energy costs further.
As Australia’s largest repository of real time behind the meter data, Solar Analytics is now making their 13 terabytes of anonymised energy data available to market participants, helping to increase overall grid reliability. Through this new Data Product, partners will gain insights into Australian residential energy production, consumption and energy trends, including never before available street level grid performance data. Initial customers include the Australian Photovoltaic Institute (APVI) and the Australian Energy Market Operator (AEMO).
Rooftop solar is now the cheapest form of delivered electricity at less than 9c/kWh, and by being generated locally it avoids the grid poles and wires costs that make up almost 50% of a typical household electricity bill. Driven by billion dollar investments storage costs are falling at ~20% per annum, within 2-3 years rooftop solar and storage is expected to be the cheapest form of electricity at any time of day. The storage market is forecast to grow 22 times by 2020 (GTM, 2017, 03).
1.9 million homes in Australia already have solar, and Bloomberg New Energy Outlook Report predicts this will rise to 4 million by 2025, making Australia the world’s leading market for rooftop solar and home storage. This transformation is providing everyone with cheaper and cleaner energy, and to make the most of this growing resource homeowners and businesses need intelligent analytics to maximise the value of their rooftop solar.
Homeowners with solar systems are losing hundreds of dollars per year in lost income due to an underperforming solar system, sub-optimal energy consumption, and lack of actionable information about their energy options. Solar Analytics cloud based data and analytics platform works with any solar system on any home or business. Their patented algorithms use real time energy and weather data to analyse solar system performance. Combined with machine learning and Artificial Neural Networks they provide customers with control and actionable insights to maximise the financial and personal return on their solar investment.
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Solar Analytics became a certified B Corp in June 2016 and was recently awarded a "Best for the World" honour as a top performer in the Environment category for international B Corps.
B Corp is to business what Fair Trade certification is to coffee or USDA Organic certification is to milk. B Corps are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. B Corps meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems.
Today, there is a growing community of more than 2,100 Certified B Corps from 50 countries and over 130 industries working together toward 1 unifying goal: to redefine success in business.
Growing at 19% CAGR rooftop solar is the is the lowest cost and fastest growing form of new electricity generation worldwide. There are already 10 million rooftop solar systems installed globally, with 1.7 million in Australia - the world’s largest market. Across Australia and the USA there is over 420,000 new residential solar systems being installed annually.
Since launching in 2015 Solar Analytics has sold over 20,000 units in 5 countries; is the dominant solar monitoring provider in Australia; and is one of the fastest growing worldwide. Already Solar Analytics has created one of the world’s largest customer base with real time residential solar and energy consumption creating additional data stream revenues.
Solar Analytics currently holds 5% market share of the Australian home solar markets with 200,000 new solar systems being installed in Australia this year there continues to be enormous growth potential. Uniquely customer focused, Solar Analytics aims to secure over 30% of total market share. Achieving this will enable Solar Analytics to offer its full suite of home energy management products and access the $3.2 trillion global electricity services market.
In Australia, the main competition is basic monitoring by inverter manufacturers, or early stage energy management startups who provide little solar reseller value and limited solar functionality. International competitors include Locus Energy, SolarMan and Solar-Log who focus on larger commercial scale solar and provide minimal homeowner value. Looking to the future, battery and EV companies including Tesla and Sonnen will be significant market players.
Solar Analytics’ competitive advantage arises from its place as the dominant third party provider in the world’s largest residential solar market, Australia. By providing real value to both homeowner and solar retailer, Solar Analytics has cracked the secret to selling home energy hardware and subscriptions profitably into homes and businesses with a low customer-acquisition-cost and scalable model. Partnered with world leading PV research institute UNSW and backed by strategic investor AGL, Solar Analytics has market leading traction, patented world leading solar energy algorithms, and are rapidly growing their partner ecosystem and service offering.
AGL Energy Ltd
AGL Energy Limited (AGL) is one of Australia’s leading integrated energy companies. It is
taking action to responsibly reduce its greenhouse gas emissions while providing secure and
affordable energy to its customers.
Drawing on more than 175 years of experience, AGL provides gas, electricity, solar PV and
related products and services to more than 3.7 million customers across Queensland, New
South Wales, Victoria and South Australia.
AGL is listed on the Australian Securities Exchange and is an S&P/ASX 50 company with a
market capitalization of greater than $15 billion. AGL has a Baa2 credit rating from Moody's.
AGL is the largest ASX listed owner, operator and developer of renewable energy generation
in the country. Their diverse power generation portfolio includes base, peaking and
intermediate generation plants, spread across traditional thermal generation as well as
renewable sources including hydro, wind, solar, landfill gas, and biomass.
ARENA As Australia’s Renewable Energy Agency, ARENA, is accelerating Australia’s shift to an affordable and reliable renewable energy future. ARENA provides funding to researchers, developers and businesses that have demonstrated the feasibility and potential commercialisation of their project. By supporting innovators and early-movers, we’re fast-tracking the development of substantial new Australian industries, creating new economic opportunities, and building on Australia’s rich history of invention by helping local companies develop world-leading renewable energy solutions.
Peter Los Peter Los is an experienced investor across the energy and resources sector. Peter is the Founder, Managing Director and Chief Investment Officer of investment firm Eye Management, which manages funds with investment focus including on energy technologies and their supply chains.
John Clifford John is an experienced private equity & venture capital investor. In working for UK investor 3i and international investment bank Rothschild, he was principal lead in over 30 LBO and development capital transactions in UK, USA, SE Asia, Australia and New Zealand. Originally trained as an engineer with a Master Degree in Engineering and Management from Birmingham University, John is currently activity investing in utility technology businesses.
David Griffin David is an experienced renewable energy champion. David has been active in developing utility scale wind farms in Australia through his own development company and in joint ventures with others since 2000. As General Manager of Development at Infigen Energy Ltd, his role included development of several greenfield solar PV farms and wind farms, all of which are now in advanced stages of development. Since 2015 David has focused on opportunities in renewable energy related technology. Across these projects he has developed to date, 231 MV of solar PV and 416 MW of wind farms have been commissioned, 366 MW of wind farms are under or about to begin construction, and approximately 2 GW of wind and solar are in advanced stages of development.
Rooftop solar has rapidly become the lowest cost form of energy, and we see a huge future in the continued growth of this sector.
David Griffin
Large Scale Wind & Solar Developer
This is an investment opportunity to subscribe for units in an Australian trust that will invest in Solar Analytics under the following key terms:
Solar Analytics: Preference Shares (held through units in a VentureCrowd Unit Trust)
Pre-Money Valuation: $18M
The full terms of the investment opportunity are set out in the Key Documents section and Investment page.
Capital will be used to support:
Co-founder & CEO
Solar industry pioneer for over two decades, internationally recognised reliability expert and holder of three patents.
Co-founder, Chair & Strategic Director
Led one of the world’s largest PV R&D teams for 10+ years, globally recognised PV leader and Chair APVI.
Co-founder & CTO
Multiple NICTA and UNSW academic award winner for coding and development of real time database applications.
Co-founder & Commercial Director
Founder of three successful solar ventures, 3 years at BCG, and Haas MBA.
