SolarSquare Energy

What SolarSquare Energy does

SolarSquare Energy Private Limited is a Mumbai-based, full-stack residential rooftop solar company founded in 2015 by IIT Bombay alumni Shreya Mishra (CEO), Neeraj Jain, and Nikhil Nahar. The company pivoted from commercial solar EPC to residential rooftop solar in 2021 and now operates across 29 cities in 9 Indian states (Maharashtra, Karnataka, Gujarat, Madhya Pradesh, Rajasthan, Tamil Nadu, Uttar Pradesh, Delhi NCR, Telangana, and Andhra Pradesh), serving ~50,000 individual homeowners, 200–400 housing societies, and a smaller commercial/industrial book including TVS & Sons, Johnson & Johnson, JSW Group, LNJ Bhilwara Group, and Enpro Industries.

The platform spans three customer segments (Homes, Housing Societies, Commercial) delivered through three system types (On-Grid, Off-Grid with lithium battery, Hybrid). Core proprietary differentiators include the IIT Bombay-approved WindPro Mount™ structure (rated for 170 km/hr winds, 99.91% storm-safety record over two years), HILTI chemical anchoring with a Rs. 1 lakh water-leakage warranty, an in-house 3D rooftop design tool, and a real-time monitoring Android app (com.sse.consumer). SolarSquare is India's only UL-certified solar company and has also earned TÜV and CII quality/safety recognitions. The company is empaneled under the Government of India's PM Surya Ghar Muft Bijli Yojana and is ranked #1 on the National Portal by installation count, with 150 MW+ installed capacity and the milestone of being the first to reach 100 MW under the scheme.

SolarSquare's business model combines one-time hardware-and-installation revenue (Rs. 0.95 lakh to Rs. 6.5 lakh for residential 2–10 kW systems; Rs. 18 lakh to Rs. 2.35 crore for 30–500 kW housing society systems), a recurring GoodZero™ Guaranteed Savings subscription (Rs. 8/unit shortfall compensation, zero repair/replacement cost, bundled maintenance), financing facilitation through partner banks (ZIP/Zero Investment Plan, CAPEX, OPEX, with 0% EMI for 6 months and 24-hour approvals), and a SolarPro channel-partner program. The go-to-market combines self-serve web lead capture, inbound inside sales (phone, WhatsApp), field sales for housing societies and commercial clients, and a partner channel. Cumulative capital raised exceeds $100 million across five rounds, with the most recent being a $53 million Series C led by B Capital in June 2026 at a $450–500 million post-money valuation; the annualized revenue run-rate has been disclosed at ₹1,000+ crore.

Name

SolarSquare Energy

Legal name

SolarSquare Energy Private Limited

Website

https://solarsquare.in

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

SolarSquare Energy is a Mumbai-based, full-stack residential rooftop solar installer serving ~50,000 individual homeowners, housing societies, and commercial clients across 29 Indian cities with proprietary mounting hardware, a savings-guaranteed subscription, and subsidy processing under the PM Surya Ghar scheme.

Ownership category

akta.pro rank

Product category

Residential Rooftop Solar Installation

NAICS

Roofing Contractors (23816), Roofing Contractors (238160)

SIC

Asphalt Paving & Roofing Materials (2950)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

Solar Mounting, Racking & Trackers (Fixed-Tilt, Single/Dual-Axis, Rooftop Mounts) (EUAMABAF), Solar Grid Integration & Interconnection Services (Studies, Protection, SCADA, Forecasting) (EUAMABAI), Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ)

Keywords

• Rooftop solar installation
• Residential solar systems
• Solar EPC services
• Solar panel mounting
• Rooftop solar financing

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices41 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Rooftop Solar Installation (Hardware + Installation): One-time revenue from end-to-end residential rooftop solar system sales and installation, including on-grid and off-grid systems for homes, housing societies, and commercial/industrial customers. System prices range from ~Rs. 95,000 (2 kW on-grid in Lucknow) to Rs. 2.35 Cr (500 kW housing society). Reported FY25 operating revenue of ₹355 crore with annualized run-rate exceeding ₹1,000 crore.
2. GoodZero™ Subscription Savings Plan: Recurring subscription service offering a Guaranteed Solar Savings Plan with money-back promise at Rs. 8/unit compensation if system underperforms. Includes ₹0 repair and replacement cost, regular proactive maintenance visits, and app-based real-time generation tracking. Creates predictable revenue with 25-year customer lock-in via the savings guarantee structure.
3. After-Sales Maintenance Plans: 5-year free annual maintenance contract bundled with new installations, including quarterly cleaning, preventive/corrective maintenance, and continuous remote system monitoring. After initial 5-year period, ongoing maintenance contracts expected to convert to paid recurring service.
4. Financing Facilitation (CAPEX, OPEX, ZIP Loan): Three financing models offered: (1) CAPEX where society/customer pays upfront, (2) SolarSquare ZIP (Zero Investment Plan) offering collateral-free loans with 24-hour approval and 6-60 month EMI, (3) OPEX (third-party investment). 10-minute loan approval with interest-free 6-month EMI and 5-year EMI (60 installments). Revenue captured through loan processing fees, partnerships with banking institutions, and EMI markup.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels10 records

Core offering

SolarSquare designs, installs, finances, and maintains rooftop solar systems for Indian homeowners, housing societies, and commercial/industrial enterprises. Its vertically integrated full-stack offering spans free rooftop survey, 3D system design, in-house engineering with the proprietary WindPro Mount™ structure, on-grid/off-grid/hybrid system installation, end-to-end PM Surya Ghar subsidy processing, zero-investment financing (ZIP), and a 5-year maintenance contract. The GoodZero™ Guaranteed Solar Savings Plan adds a subscription layer with Rs. 8/unit shortfall compensation and a real-time Android monitoring app, creating 25-year customer engagement.

Product overview

SolarSquare Energy is India's leading full-stack residential rooftop solar company operating a single integrated platform built around end-to-end installation and lifecycle services rather than separate, modular software products. The platform is structured into three customer-facing segments — Homes, Commercial, and Housing Societies — each supported by three underlying system types (On-Grid, Off-Grid, and Hybrid Solar Systems) and one proprietary hardware differentiator (WindPro Mount™). Layered on top of this core installation business are several add-on offerings: the GoodZero™ Guaranteed Solar Savings Plan, a Real-time Monitoring Mobile App for performance tracking, ZIP (Zero Investment Plan) financing, a partner-channel Solar Pro program, and an online Solar Savings Calculator. Together, these products position SolarSquare as a vertically integrated home-energy platform covering design, installation, financing, monitoring, and 5-year maintenance — India's only UL-certified residential solar company offering a money-back savings guarantee.

Differentiator

Problem solved

Functional benefit

Brands

• GoodZero™: India's only Guaranteed Solar Savings Plan offering a money-back promise at Rs. 8/unit, with regular proactive maintenance visits and ₹0 repair & replacement cost.
• WindPro Mount™
• SolarPro

Products and services

• Residential Rooftop Solar (Homes) End-to-end on-grid rooftop solar installation service for individual Indian homeowners, including free rooftop survey, 3D system design, hardware supply and installation, government subsidy paperwork, financing through the ZIP Zero Investment Plan, and a 5-year maintenance contract. Systems typically range from 2-10 kW and promise up to 90% reduction on electricity bills from Day 1, with breakeven in 3-5 years. Targets individual homeowners across 29 cities with monthly electricity bills typically starting at ₹1,500/month.
• Commercial Rooftop Solar Full-stack rooftop solar installation service for commercial and industrial enterprises, including net-metered grid-tied and captive (behind-the-meter) configurations for RCC or metallic sheet roofs. Project sizes range from 110 kW to 2 MW and serve corporate clients including TVS & Sons, LNJ Bhilwara Group, Johnson & Johnson, JSW Group, Enpro Industries, and Uma Industries. Not eligible for PM Surya Ghar subsidy, but supports OPEX, CAPEX, and accelerated depreciation tax benefits.
• Housing Society Rooftop Solar Rooftop solar solutions for cooperative housing societies and Residential Welfare Associations (RWAs) targeting common-area loads such as lifts, lighting, water pumps, and security systems. Systems range from 30 kW to 810 kW and qualify for PM Surya Ghar subsidy of Rs. 18,000/kW capped at Rs. 90 lakh. Offerings include OPEX, CAPEX, and ZIP financing models, with SolarSquare handling AGM workflow support, DISCOM liaisoning, and subsidy paperwork end-to-end.
• On-Grid (Grid-Tied) Solar System Grid-tied rooftop solar system connected to the local DISCOM utility through a bi-directional (net) meter for net-metering credits. Subsidy-eligible under PM Surya Ghar (Rs. 30,000 for 1 kW, Rs. 60,000 for 2 kW, Rs. 78,000 for 3 kW+). Components include solar panels, inverter, WindPro Mount™ structure, AC/DC combiner boxes, earthing, MC4 connectors, and lightning arrester. Most common configuration in areas with reliable grid supply.
• Off-Grid (Standalone) Solar System Standalone solar system connected to lithium-ion (LFP) or lead-acid batteries for full autonomy, designed for 1+ days of battery-only operation. Targets remote and rural areas with unreliable grid supply (2-3 hours/day). Not eligible for the PM Surya Ghar subsidy. Pricing ranges from approximately Rs. 1.6 lakh for a 1 kW system with 4.7 kWh battery to Rs. 15.5 lakh for a 10 kW system with 47.3 kWh battery.
• Hybrid Solar System Hybrid solar system that combines grid connection with a battery bank (lead-acid or lithium-ion) for backup power. Eligible for the PM Surya Ghar subsidy. Recommended for areas with frequent power cuts that still want net-metering benefits. Distributed in select cities where grid reliability is intermittent.
• GoodZero™ Guaranteed Solar Savings Plan India's only Guaranteed Solar Savings Plan from a rooftop solar company, offering a money-back promise that compensates any shortfall at Rs. 8 per unit if the system generates less than promised. Includes zero repair and replacement cost, regular proactive maintenance visits, and the Android real-time monitoring app. Positioned as a 25-year subscription lock-in that creates recurring O&M revenue layered on top of installation revenue.
• Real-time Monitoring Mobile App Android mobile application (package com.sse.consumer) available on Google Play Store that connects to a customer's installed solar system to track real-time power generation, savings versus promised output, referrals and rewards, and proactive maintenance schedules. Provides full transparency on promised versus actual generation and is bundled with the GoodZero™ savings plan.
• ZIP - Zero Investment Plan (Solar Loan Financing) Zero-investment solar loan product for housing societies and homeowners, with the government subsidy adjusted as the upfront payment and EMIs spread over 6-60 months. Society or homeowner owns the system from day one and builds equity while EMIs are aligned with electricity savings. Loan approvals processed within 24 hours through partner banking institutions, with interest-free 6-month EMI options available for residential customers.

Quantifiable outcome

• 99.91% storm-safety record over the past two years despite cyclonic winds up to 170 km/hr
• +11 more outcomes

Named customers22 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

Six partnerships are on record, tiered strategic - acquired entity, strategic - primary supplier, strategic - secondary supplier, minor - potential partner, flagship - regulatory partnership and strategic - technology validation.

• PV Diagnosticsstrategic - acquired entityOthers · 1 February 2024Mumbai-based SolarSquare acquired PV Diagnostics in February 2024, a consultancy with expertise in utility-scale solar and 8 GW of industry experience collaborating with major renewable energy developers. The acquisition was made to improve residential solar installations across India by bringing in utility-scale expertise.
• Premier Energiesstrategic - primary supplierOthersPremier Energies (Hyderabad-based) is SolarSquare's primary supplier of solar cells and panels, providing the bulk of solar module components used in installations across India. This strategic supplier relationship underpins SolarSquare's ability to deliver on installation volume targets.
• Waaree Energiesstrategic - secondary supplierOthersWaaree Energies is a secondary supplier of solar cells and panels to SolarSquare, working alongside Premier Energies to support the company's high-volume installation requirements across India.
• Emmveeminor - potential partnerOthersEmmvee is being explored by SolarSquare as a potential solar panel supplier partner, in addition to existing relationships with Premier Energies and Waaree Energies.
• PM Surya Ghar Muft Bijli Yojana (Government of India)flagship - regulatory partnershipStrategic or Co-development PartnerSolarSquare is empaneled as an approved vendor under the Government of India's PM Surya Ghar Muft Bijli Yojana, enabling the company to process central government subsidies (up to Rs. 78,000 for individual homes, Rs. 18,000/kW up to Rs. 90 lakh for housing societies) directly through the National Portal. First company to achieve 100 MW of installations under this scheme.
• IIT Bombaystrategic - technology validationStrategic or Co-development PartnerIIT Bombay vetted and approved SolarSquare's proprietary WindPro Mount™ structural design for solar module mounting, finding the structure safe for wind velocity up to 170 kmph in accordance with IS875 provisions. This institutional validation serves as a critical technology endorsement.

Scale indicators14 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• Tata Power Solar: Subsidiary of Tata Power offering residential, commercial, and utility-scale solar across India. Most direct comparison to SolarSquare's residential rooftop offering, with the added advantage of Tata brand equity and parent balance sheet — competes on both pricing and trust.
• Waaree Energies: India's largest solar module manufacturer by capacity, with a growing rooftop solar EPC and distribution arm. Comparable as both a supplier to SolarSquare (secondary panel supplier) and a downstream competitor offering its own residential rooftop installations.
• Adani Solar: Vertically integrated solar arm of the Adani Group, offering panels, inverters, and EPC services across residential, commercial, and utility-scale. Competes with SolarSquare in commercial rooftop and increasingly in residential, with deeper capital and Adani ecosystem relationships.
• Vikram Solar: Indian solar PV manufacturer with rooftop EPC and large-scale project capabilities. Overlaps with SolarSquare's commercial rooftop offering and competes for housing society and enterprise projects, with similar geographic concentration in India.
• CleanMax Enviro Energy: India's largest C&I rooftop solar provider, now expanding into residential and hybrid solutions. Comparable to SolarSquare's commercial/housing-society segment, though heavier on C&I than pure residential — a useful proxy for the institutional rooftop market.

Direct peers

• Freyr Energy: India-based residential and small-commercial rooftop solar startup with similar D2C + field sales motion and presence across Tier-II/III cities. Closely comparable in business model, target customer (residential homeowner), and geographic coverage to SolarSquare.

Emerging players

• Fourth Partner Energy: Indian distributed solar and energy solutions company (now part of Gentari) focused on C&I rooftop solar with growing residential and EV-charging adjacencies. Comparable in full-stack distributed solar model and Indian market focus, though more C&I-weighted than SolarSquare.
• Loom Solar: India D2C solar panel and rooftop kit brand targeting residential customers via online channels. Competes with SolarSquare at the smaller residential system (1-10 kW) end, with a more product-led and less full-stack service orientation.
• Oorjan Cleantech: Mumbai-based residential rooftop solar platform offering online quotes, financing, and installation services. Closely comparable to SolarSquare in target customer (urban Indian homeowners) and B2C online-to-offline motion.
• MYSUN: Indian residential solar marketplace and turnkey installer with focus on consumer financing and rooftop assessment tech. Comparable to SolarSquare in customer profile, financing-led GTM, and Indian metro focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@solarsquare.energy
• Facebookfacebook.com/SolarSquareEnergy
• LinkedInlinkedin.com/company/solarsquare-energy-private-limited
• Instagraminstagram.com/solar.square

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SolarSquare Energy