Aurora Solar Reels in Funding as Industry Is Set for Government Bump

By Thomas Price Monday, December 28, 2020

As concerns over fossil fuel use and the demand for alternative energies continues to grow, both businesses and consumers have been actively searching for new paths to consume energy. One of, if not the most popular alternative energies in recent years has been solar power. However, one of the difficulties that has been cropping up in the solar industry is the ability to design solar products and advertise these products to as wide of an audience as possible. Aurora Solar has been actively trying to create a seamless solution to this issue. Especially in 2020, with the COVID-19 pandemic preventing many businesses from working or collaborating in person, Aurora Solar has become an increasingly valuable startup. So, what does Aurora Solar offer to their customers, what kind of growth is being seen, and what have they taken in during their most recent funding round?

What Is Aurora Solar?

Aurora Solar is a software as a service (SaaS) startup that creates a customized product for solar energy companies. The startup builds software that allows these companies to design solar products and subsequently sell them to consumers completely remotely. For customers who choose to use Aurora Solar’s service, the process is rather seamless. In order, Aurora Solar will model the site, model the customer’s electricity profile, conduct a shading analysis, and then begin system design. In system design, the company will be able to drag and drop modules and BOS components, activate the automatic system designer, and perform an NEC validation. The customer will also be able to simulate performance and generate loss tree diagrams.

On the business and sales side of the equation, a company will have features that will help compare financing options, create sales proposals, submit shade reports, and export single line and layout diagrams. These features are all available for use remotely and have attracted many major names in the solar industry, especially during the ongoing pandemic.

In fact, Aurora Solar has been in service of major solar companies such as Sunpower, Momentum Solar, Sunpro, Zolar, and Blue Raven Solar. Beyond simply having a strong group of clients, Aurora Solar has been heavily praised by those who use the software, with hundreds of testimonials and reviews available on the Aurora Solar website.

Aurora Solar is one of the very few companies that has seen business grow in 2020, with remote design and sales becoming clearly more important. In fact, from April to October, over 1 million projects were designed using Aurora Solar software bringing total projects designed up to 4 million. These numbers have attracted many different investors who see the startup’s clear potential to continue expanding as the solar energy market does with it.

Aurora Solar’s Funding and Government Support of Solar Industry

Aurora Solar recently announced that the startup had raised an impressive $50 million in their Series B funding round. This infusion of capital brings the startup’s total funding raised up to $70 million. The most recent funding round was led by Iconiq Growth with participation from existing investors such as Energize Ventures, Fifth Wall, and Pear VC. Although Aurora Solar has not released specific plans about what they will do, it is very likely that the funding will be used to further expand the capabilities of the software and allow the platform to handle more clients.

The investors have been further excited by large scale plans for nearly $2 trillion of investment from the federal government in the upcoming administration’s climate plan. With the current uptick in business, added funding, and possible future funding of the entire solar industry, Aurora Solar is set for a positive path moving forward.

Final Conclusions

Aurora Solar has built a product that has seen a major boost in demand during the COVID-19 pandemic. The ability to remotely design and sell solar products to consumers has become an extremely valuable tool in 2020. Given the strength and growth potential of the solar energy market, especially considering the possible federal government support, it appears that Aurora Solar is set for strong growth even after the pandemic wanes.

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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