Silicon Valley Bets on Solar Startup as US Sector Shrinks

Venture capitalists are among investors putting $75 million into a US startup’s push to install home solar and batteries for an electricity subscription — just as the residential market shrinks.

Daylight Energy raised the funds in a round that included $15 million in equity led by Framework Ventures with participation from Andreessen Horowitz, Lerer Hippeau, M13, Room40 Ventures and EV3, according to a statement. The $60 million raised for project development, led by Turtle Hill Capital, will be used to install equipment starting with about 1,200 homes in Illinois and Massachusetts.