NextGrid

Name

NextGrid

Legal name

NextGrid Energy LLC

Website

https://nextgrid.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Distributed Solar and Energy Storage Development

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Distributed Generation (DG) Solar & Small Wind (EUAMAJAD)

akta.pro secondary industries

Microgrid Development, EPC & Integration (EUAMAJAB), Distributed Storage (Behind-the-Meter Batteries) (EUAMAJAE)

Keywords

• Solar project development
• Energy storage systems
• Renewable energy financing
• Tax credit investment
• Distributed energy generation

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Land/Property Acquisition and Lease: NextGrid purchases land from landowners with option-to-purchase agreements or enters into long-term lease agreements (20+ years). Property owners receive option fees, lease payments, or sale proceeds. This enables NextGrid to secure sites for solar development.
2. Solar Development Services: End-to-end development services including site feasibility, permitting, interconnection, engineering, and construction. Revenue generated through project development fees and increased project value upon completion.
3. Tax Credit Monetization: NextGrid generates Investment Tax Credits (ITCs) through solar project development. These credits are sold to tax equity investors, specifically targeting large corporate buyers with $30M+ in yearly tax liability.
4. Solar Power Generation: Long-term revenue from electricity generation via owned/operated solar installations. Power is sold through PPAs (Power Purchase Agreements) to utilities and commercial customers. Projects operate for 20-40 years generating recurring revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

NextGrid Energy LLC is a U.S. renewable energy developer that acquires or leases land, rooftops, and carports from property owners and develops, finances, and constructs distributed solar and battery storage projects end-to-end. The company also partners with independent solar developers for project finance and acquisition, and monetizes solar Investment Tax Credits (ITCs) to large corporate buyers, while selling generated electricity under long-term PPAs.

Product overview

NextGrid is a renewable power company specializing in distributed solar and energy storage project development, financing, and construction across the United States. The company operates a unified service model combining Development, Financing, and Construction services as an integrated offering. Core products include Land Purchase and Lease arrangements for property owners, Solar Lease for commercial landlords, Rooftop and Carport Solar installations, Distributed Solar Projects, Tax Credit Investment opportunities, and Energy Storage Projects. The portfolio includes over 110 solar installations totaling 665 MW developed, 759 MWh of storage developed, with 232 MW under construction and 226 MW operating across 10 U.S. states and 21 utility partnerships.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar Development Services End-to-end development services for distributed solar and storage projects covering regulatory and incentive programs, site feasibility analysis, site origination and host contracting, interconnection service agreements, permitting and entitlements, engineering and design, PPA and offtake arrangements, and credit contracting and management.
• Solar Financing Services Comprehensive financing solutions for solar projects including financial modeling, accounting and cost segregation, tax equity and project finance support, construction debt, long-term project-level debt, and project M&A.
• Solar Construction Services Construction management services for solar installations covering budgeting, scheduling, utility interconnection upgrades, procurement, subcontractor and vendor management, commissioning, and warranty and post-installation support.
• Land and Property Purchase and Lease Direct purchase of land via option-to-purchase agreements or long-term lease agreements (20+ years) with property owners. Targets developable land parcels (5–50+ acres), commercial rooftops (40k+ sqft), and large parking lots. Property owners are paid option fees, lease payments, or sale proceeds.
• Solar Lease (Property Owners) Investment-grade long-term rental income product offering 20-year lease terms with zero upfront costs or maintenance obligations for large industrial and commercial landlords, designed to work within triple net lease structures.
• Rooftop and Carport Solar Installations Solar installations developed on commercial rooftops (40k+ sqft) and parking lot carports, including canopy parking systems to host solar generation on underutilized spaces.
• Energy Storage Projects DC-coupled battery storage systems integrated with solar installations, with project capacities ranging from 1 MWh to 6 MWh across the portfolio.
• Tax Credit Investment Investment Tax Credit (ITC) offerings targeting large corporate buyers with $30M+ in yearly tax liability, providing tax liability reduction through partnership in solar energy projects.
• Project Finance for Developers Strategic guidance, industry expertise, and ongoing support for independent solar developers, including competitive economics for sourcing deals in local markets and the ability to purchase projects at any stage from site control through shovel-ready.

Quantifiable outcome

• Lease payments made for 20+ year terms with investment-grade rental income
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• National GridcoreOthersMajor utility partner for solar projects. NextGrid has constructed multiple installations for National Grid including a 1.07 MW carport in Bridgewater, MA serving utility emergency services. National Grid serves as the offtake utility for PPA arrangements.
• EversourcecoreOthersNew England utility partner. NextGrid installed a 432 kW rooftop and canopy solar system in Provincetown, MA under Massachusetts SMART PPA program with Eversource as the utility.
• VersantcoreOthersMaine utility partner. NextGrid developed a 5.2 MW ground mount project in Bangor, ME as part of a 40 MW, 9-project portfolio under the Maine NEB PPA - Community Solar program with Versant Power.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• SunPower (Commercial): SunPower (now operating as Complete Solar/ Maxeon for residential and commercial) develops and finances commercial and industrial solar projects. Overlaps with NextGrid in distributed C&I solar, though SunPower operates at much larger scale across more geographies.
• ENGIE North America: ENGIE North America is a major utility-scale and distributed renewable energy developer and operator. Comparable through its distributed solar and storage development activities, though as a much larger incumbent with broader portfolio across generation technologies.
• EDF Renewables North America: EDF Renewables North America develops utility-scale and distributed renewable energy projects including solar and storage. Overlapping in distributed solar development, storage integration, and PPA/ tax equity capabilities, but as part of a much larger global portfolio.

Direct peers

• Dimension Renewable Energy: Dimension Renewable Energy is a distributed solar developer focused on C&I and community solar across the U.S. Southeast and Mid-Atlantic. Comparable business model offering development, financing, construction, and tax equity services with similar property owner outreach approach.
• Sol Systems: Sol Systems is a solar investment and development firm providing tax equity, project finance, and development services. Highly comparable in their tax credit monetization offerings to large corporate buyers and developer financing partnerships with distributed solar developers.
• Pivot Energy: Pivot Energy is a distributed solar developer focused on community solar and C&I projects across the U.S. Like NextGrid, they provide end-to-end development, financing, and construction services with similar geographic footprint and customer segments (property owners, developers, tax credit buyers).
• Cypress Creek Renewables: Cypress Creek is one of the largest U.S. distributed solar developers, historically focused on C&I and utility-scale projects with a similar full-lifecycle business model. Comparable in providing development, financing, construction, and tax equity services to property owners and corporate buyers.
• Borrego Solar: Borrego Solar is a commercial and industrial solar EPC and developer with end-to-end project capabilities. Comparable in providing distributed solar development, storage integration, and project finance to commercial property owners across multiple U.S. states.
• ForeFront Power: ForeFront Power develops distributed solar and storage projects for commercial, public sector, and nonprofit customers. Similar business model with focus on development, financing, and long-term ownership of distributed generation assets across U.S. markets.

Emerging players

• CleanCapital: CleanCapital is a clean energy investment platform that acquires and finances distributed solar and storage projects. Comparable as a counterparty or competitor in the secondary market for operating distributed solar assets and tax credit transactions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors4 records

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

M&A

Investments

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

Frequently asked questions about NextGrid