Third Pillar Solar
- Company typePrivate
- Founded2021
- HeadquartersHouston, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
Third Pillar Solar firmographics
Firmographics- Name
- Third Pillar Solar
- Legal name
- Third Pillar Solar, LLC
- Website
- https://thirdpillarsolar.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Third Pillar Solar industry classification
Industry- Product category
- Floating Solar Development
- NAICS
- Solar Electric Power Generation (221114), Utility System Construction (2371)
- akta.pro primary industry
- Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)
- akta.pro secondary industries
- Utility-Scale PV Project Development & Permitting (EUACAGAA), Operations, Maintenance & Asset Management (O&M, Vegetation, Spares, SCADA) (EUACAGAH), Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)
Keywords
Where Third Pillar Solar is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Third Pillar Solar business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Solar Energy Generation & Sale: Third Pillar develops, constructs, owns, and operates floating solar assets long-term. Revenue generated through sale of electricity to utilities (via PPA) and direct power off-take arrangements. The company maintains asset ownership rather than developing and selling projects.
- Waterbody Owner Lease Revenue Share: Waterbody owners receive lease payments and cost savings from power generation. The company generates revenue while bearing all development risk and capital deployment with no financial risk to waterbody owners.
- Community Solar Subscriptions: Through NJ BPU community solar energy program, Third Pillar provides power to subscribers (residents, affordable housing projects) at discounted rates (30% estimated discount), generating recurring revenue from JCP&L service territory customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Community Solar Subscription - 30% estimated discount for subscribers in JCP&L service territory |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Third Pillar Solar product offering
Product offeringCore offering
Third Pillar Solar develops, owns, and operates utility-scale floating photovoltaic (FPV) solar projects on municipal and industrial waterbodies (wastewater lagoons, reservoirs, quarries) and brownfield sites. The company handles the full project lifecycle from site identification, design-led development, and engineering through construction, long-term operations, maintenance, and end-of-life decommissioning, deploying its own capital and bearing all development risk. It also operates community solar subscription programs under state regulatory frameworks.
Product overview
Third Pillar Solar is a specialized floating photovoltaic (FPV) solar project developer, owner, and operator offering a comprehensive suite of services. The core offering is Floating Solar Project Development, where Third Pillar develops utility-scale floating solar installations on underutilized waterbodies (wastewater lagoons, quarries, reservoirs) for municipal and industrial clients. The company also offers Community Solar Subscription programs under state programs, enabling subscribers to access discounted electricity. Long-term Operations and Maintenance Services and Site Restoration/Decommissioning services bookend the project lifecycle. Third Pillar deploys its own capital, assuming development risk while providing waterbody owners with lease revenue, power discounts, and water quality benefits for 40-year project lifetimes.
Differentiator
Problem solved
Functional benefit
Products and services
- Floating Solar Project Development
Quantifiable outcome
- 15% freshwater evaporation loss reduction through floating solar installations
- +3 more outcomes
Companies that use Third Pillar Solar
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles1 record
Third Pillar Solar technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Third Pillar Solar partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered flagship, core and minor.
- Diamond Infrastructure SolutionsflagshipDiamond Infrastructure Solutions granted Third Pillar exclusive access to its Texas reservoir system for utility-scale floating solar deployment. This initiative represents one of the largest floating solar undertakings in the Americas with potential investment exceeding $700 million and up to 500MW capacity. Projects planned to be constructed by end of decade, generating hundreds of local jobs.
- 1898 & Co. (Burns & McDonnell)core1898 & Co., part of Burns & McDonnell, supports Third Pillar's floating solar developments through project design, planning, financial modeling, and identifying end-to-end solutions that maximize project feasibility and efficiency. Partnership enhances Third Pillar's ability to deliver high-quality floating solar solutions.
- National GridminorNational Grid has been contacted regarding the Polkville quarry project and confirmed their current infrastructure can handle the added power to the grid. Utility partner for grid interconnection rather than strategic partnership.
- Delmarva PowerminorDelmarva Power will receive power from Third Pillar's floating solar array at Chestertown's wastewater lagoon. Utility off-take partner for grid connection rather than strategic partnership.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Third Pillar Solar competitors and assessment
Company assessmentBroad incumbents
- EDP Renewables (EDPR): One of the world's largest renewable energy developers with multi-GW utility-scale wind, solar, and storage portfolios; several Third Pillar executives (CEO Gulati, CFO Bookout) previously led teams at EDPR. A relevant broader incumbent that could expand into or partner around US FPV.
- Lightsource bp: Global utility-scale solar developer and IPP with significant US presence and community solar expertise. Overlaps with Third Pillar on community solar subscriptions, site development expertise, and PPA off-take, though without a dedicated FPV platform.
- 8minute Solar Energy: Large US utility-scale solar developer (now part of IPP portfolio) with a track record across ERCOT and CAISO. Comparable as a US utility-scale IPP and EPC operator, though focused entirely on ground-mount rather than FPV deployments.
- Silicon Ranch: Major US utility-scale solar developer/owner-operator based in Tennessee with a large owned-and-operated fleet. Comparable on the develop-own-operate model and community solar participation that Third Pillar targets in NJ and Mid-Atlantic markets.
- Trina Solar: Global top-tier solar PV module manufacturer with utility-scale and tracker platforms. Comparable only broadly as a diversified solar incumbent that could move into FPV modules or partner with developers like Third Pillar at scale.
Direct peers
- Ciel & Terre: Global pioneer and largest dedicated floating photovoltaic developer with hundreds of MW deployed across Europe and Asia. Directly comparable to Third Pillar as a pure-play FPV developer delivering utility-scale and community floating solar projects on reservoirs and waterbodies.
- Ocean Sun (C2X): Norwegian floating solar technology provider developing membrane-based FPV systems for hydro reservoirs and aquaculture sites. Closely comparable on FPV focus, waterbody siting, and project development partnerships with utilities, but more technology-focused than Third Pillar.
Emerging players
- Yellow Door Energy: Middle East and Africa distributed solar IPP that combines commercial & industrial (C&I) and community-style off-take models, comparable to Third Pillar's vertically integrated site owner / community solar monetization.
- SolarisFloat: Netherlands-headquartered floating solar technology company delivering turnkey FPV systems across Europe. Comparable as an FPV technology and project developer, but with primarily European deployments and different site archetypes than Third Pillar's US waterbody focus.
- Swimsol: Austrian/SE Asia-based floating solar specialist developing modular FPV systems for tropical reservoirs and offshore sites. Comparable niche FPV focus but tends toward smaller distributed deployments versus Third Pillar's utility-scale and community solar pipeline.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Third Pillar Solar social profiles
Digital presenceThird Pillar Solar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Third Pillar Solar leadership team
Management profileNumber of profiles
Profiles18 records
Third Pillar Solar funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Third Pillar Solar M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Third Pillar Solar
What does Third Pillar Solar do?
Third Pillar Solar develops, owns, and operates utility-scale floating photovoltaic (FPV) solar projects on municipal and industrial waterbodies (wastewater lagoons, reservoirs, quarries) and brownfield sites. The company handles the full project lifecycle from site identification, design-led development, and engineering through construction, long-term operations, maintenance, and end-of-life decommissioning, deploying its own capital and bearing all development risk. It also operates community solar subscription programs under state regulatory frameworks.
Is Third Pillar Solar a public or private company?
Third Pillar Solar is a private company. It is classified as private equity controlled and is currently operating.
When was Third Pillar Solar founded?
Third Pillar Solar was founded in 2021. It employs 11 to 50 people.
Where is Third Pillar Solar based?
Third Pillar Solar is headquartered in Houston, United States, in the North America region.
How does Third Pillar Solar make money?
Three revenue lines are on record. Solar Energy Generation & Sale is the primary driver. The others are waterbody Owner Lease Revenue Share and community Solar Subscriptions.
Who are Third Pillar Solar's main competitors?
Broad incumbents on record are EDP Renewables (EDPR), Lightsource bp, 8minute Solar Energy, Silicon Ranch and Trina Solar. Direct peers are Ciel & Terre and Ocean Sun (C2X). Emerging players are Yellow Door Energy, SolarisFloat and Swimsol.
Does Third Pillar Solar have an API?
No public API is recorded for Third Pillar Solar.
What industry is Third Pillar Solar in?
Third Pillar Solar's product category is Floating Solar Development. Its primary akta.pro industry code is EUAMABAA, Solar Project Development & IPP (Utility-Scale & Rooftop), with a secondary code of EUACAGAA, Utility-Scale PV Project Development & Permitting. Its NAICS code is 221114.