Palmetto’s $1.2B LightReach project expands US solar

US-based Palmetto, a climate technology software company, has raised over $1.2 billion for its LightReach residential clean energy plans in 2024 and 2025, funded by Morgan Stanley, Truist Bank, and other prominent financial institutions. These plans provided homeowners with rooftop solar and storage systems, requiring $0 upfront costs, stable monthly payments, and no interest or maintenance fees. Palmetto’s AI-powered platform offered personalized energy solutions through its marketplace and a network of over 600 partners. LightReach expanded to 30 states, with over 20,000 households adopting solar energy through leases and PPAs. Rising energy costs and interest in renewables drove demand for solutions like LightReach. Residential energy contributed to 42% of U.S. energy-related emissions, while solar power emerged as a leader in global renewable energy growth through 2030. 

Source: PRNewswire