Source Solar

What Source Solar does

Source Solar is a privately held residential and commercial solar panel installation company headquartered in Iowa City, Iowa, founded in 2013 and led by Peter Sarelas. The company designs, sells, and installs custom solar energy systems for homeowners and commercial property owners across Iowa and Illinois, using what it describes as industry-leading software to produce tailored system designs and energy production projections for each customer. Its core product offering centers on a one-time solar installation service, complemented by a $0 down financing option and a multi-step online qualification funnel that captures lead data on electric bill, roof age, sunlight exposure, property type, and payment preferences.

The company's supply chain is built on direct partnerships with five major equipment manufacturers — Qcells (panels), SolarEdge and Enphase (inverters/power electronics), GAF Energy (building-integrated solar roofing), and SunModo (mounting/racking) — enabling it to ship products directly to customers and bypass distributor markups. Installation work is executed through a contractor network, including a formal Contractor Partner Program, while Source Solar maintains the direct customer relationship across sales, design, permitting, and post-installation support. The company is BBB Accredited (A rating) and displays Google 5-star reviews, and markets primarily through its website, blog content, Facebook, and phone-based inside sales.

The business model is primarily one-time installation revenue supplemented by financing-related fees, with the $0-down product likely structured through a third-party lender. Marketing is concentrated on top-of-funnel digital channels (website, blog, social proof) and bottom-of-funnel phone and form-based lead capture. The firm operates with no disclosed funding rounds, no institutional capital, no patents, and no disclosed management team beyond its founder, and sells exclusively in a two-state Midwestern footprint.

Name

Source Solar

Legal name

Source Solar

Website

https://solarroof.energy

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Source Solar is a privately held Iowa City-based solar installer founded in 2013, designing and installing custom residential and commercial solar systems across Iowa and Illinois using direct manufacturer partnerships and $0 down financing.

Ownership category

akta.pro rank

Product category

Residential and Commercial Solar Installation Services

NAICS

Roofing Contractors (23816)

SIC

Electrical Work (1731)

akta.pro primary industry

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

akta.pro secondary industries

Solar Roofing & Roof-Mounted PV Systems (IMADAFAO), Solar Mounting, Racking & Trackers (Fixed-Tilt, Single/Dual-Axis, Rooftop Mounts) (EUAMABAF), Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ)

Keywords

• Residential solar installation
• Commercial solar installation
• Solar panel financing
• Rooftop solar systems
• Solar energy contractors

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Others

Revenue model

1. Solar Panel Installation: One-time installation of solar panel systems for residential and commercial properties. Revenue generated from the full cost of the solar system including panels, inverters, mounting equipment, and installation labor. Federal 30% ITC (Investment Tax Credit) available to eligible customers.
2. Financing Services: Offer financing options for customers who prefer not to pay out-of-pocket, including $0 down solar arrangements. Revenue likely includes financing fees or markups built into payment plans.
3. Professional Installation Services: Installation services including site assessment, system design, permitting assistance, installation, and post-installation support through contractor network.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Source Solar designs, sells, and installs photovoltaic solar panel systems for residential homeowners and commercial property owners across Iowa and Illinois. The company provides custom-tailored rooftop solar solutions, $0 down financing arrangements, and assistance with the federal 30% Investment Tax Credit (ITC) paperwork. It has completed 500+ installations since its founding in 2013 and partners with equipment manufacturers including GAF Energy, Qcells, SolarEdge, Enphase, and SunModo.

Product overview

Source Solar is a residential and commercial solar panel installation service offering customized solar solutions. The company provides a unified service offering centered around professional solar panel installation, complemented by $0 Down Solar financing options. They use industry-leading proprietary software to design custom solar systems and provide accurate energy projections. The company partners directly with manufacturers (GAF Energy, Qcells, SolarEdge, Enphase, SunModo) to source products and eliminate middlemen, enabling competitive pricing for customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Solar Installation Custom-designed and installed rooftop solar photovoltaic systems for single-family homeowners in Iowa and Illinois, including site assessment, system design, equipment supply, professional installation, and assistance with the federal 30% Investment Tax Credit. Customers can finance with $0 down.
• Commercial Solar Installation Custom-designed and installed commercial-scale solar photovoltaic systems for commercial property owners in Iowa and Illinois, targeted at businesses with significant electricity consumption (referenced $7,500+ annual bill threshold) seeking to reduce operating expenses.

Quantifiable outcome

• 30% federal Investment Tax Credit on full project cost
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core.

• GAF EnergycoreTechnology or IntegrationSolar shingle and roofing integration partner. GAF Energy provides building-integrated photovoltaic (BIPV) solar roofing products that Source Solar installs, offering aesthetic alternatives to traditional panel installations.
• QcellscoreTechnology or IntegrationPrimary solar panel manufacturer providing high-efficiency photovoltaic panels. Qcells is a major global solar panel brand that Source Solar recommends and installs for residential and commercial projects.
• SolarEdgecoreTechnology or IntegrationPower optimization and inverter technology partner. SolarEdge provides DC-optimized inverter solutions that maximize energy production from solar installations through module-level monitoring and optimization.
• EnphasecoreTechnology or IntegrationMicroinverter technology partner offering module-level power electronics. Enphase microinverters provide an alternative to traditional string inverters with individual panel optimization and monitoring capabilities.
• SunModocoreTechnology or IntegrationMounting and racking systems partner. SunModo provides solar panel mounting hardware, racking systems, and installation accessories that enable secure and code-compliant rooftop solar installations.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Freedom Forever: Freedom Forever is a large U.S. residential solar installer with multi-state operations, in-house financing, and a similar direct-to-consumer sales motion. It is a directly comparable peer for Source Solar's residential solar installation and $0-down financing offering.
• ADT Solar (formerly Sunpro Solar): ADT Solar is a national residential solar installer backed by the ADT brand, offering solar systems and battery storage across many states. It competes for the same residential customer segment as Source Solar in Midwest markets and is comparable on installation, financing, and lead-gen motions.
• Blue Raven Solar: Blue Raven Solar is a residential solar installer offering in-house financing (BluePath) and a $0-down option across multiple U.S. states. Its pricing model, target customer (residential homeowners), and financing-led acquisition motion are directly comparable to Source Solar.
• Momentum Solar: Momentum Solar is a vertically integrated residential solar installer with in-house installation crews and multi-state East Coast/Midwest coverage. Its direct sales, installation, and financing model closely mirrors Source Solar's local installer approach at a much larger scale.
• Sunrun: Sunrun is the largest residential solar installer in the U.S., offering solar leases, PPAs, and cash purchases with multi-state coverage. It is a directly comparable peer to Source Solar in residential solar installation, financing ($0-down model), and direct-to-consumer lead generation, but at vastly greater scale.
• Trinity Solar: Trinity Solar is one of the largest privately held residential solar installers in the U.S., focused on the Northeast and Mid-Atlantic with a regional-sales-and-install model. It is comparable to Source Solar as a multi-state residential installer reliant on direct sales and ITC-driven demand.
• Tesla Energy (Solar Roof / Solar Panels): Tesla Energy sells residential solar panels and Solar Roof directly to consumers with online quoting and national service coverage. It competes head-to-head with Source Solar for the same residential solar customer in Iowa/Illinois metros using brand-driven, vertically-integrated marketing.
• Lumio: Lumio (formerly known in the residential solar space as Apollo Pros / a smaller regional installer) provides residential solar installation and financing with similar regional-rollout characteristics to Source Solar. It is a relevant comparable on small-to-mid regional installer economics, customer acquisition cost, and contractor-led installation.
• Palmetto Solar: Palmetto is a residential solar company operating a marketplace model that connects homeowners with vetted installers and offers its own solar products. Its direct-to-consumer residential solar and installer-platform model overlap with Source Solar's consumer-facing installation business.
• SunPower: SunPower designs, manufactures, and installs high-efficiency residential and commercial solar systems with national dealer networks. Its installer-program model and direct-to-consumer residential solar offering are directly comparable to Source Solar's home installation and design services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sourcesolarroof
• LinkedInlinkedin.com/company/source-solar

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 Source Solar