P2P solar startup Yeloha raises $3.5 million

A growing number of “cleanweb” startups have entered the solar sector, with the latest attempting to allow homeowners whose own roof is not solar suitable to purchase PV electricity through an online platform. Yeloha plans to deliver “one-click solar” through allowing households to host a solar array on their roofs and then on-selling the electricity produced to other homeowners.

The Yeloha model taps into the P2P or “sharing” economy, through the virtual net metering of distributed solar.

Carmel Ventures led the A Series funding round, through Yeloha parent Generaytor, which itself is a solar “social network.”

The Yeloha model will allow a homeowner, or Solar Host to host (obviously) a rooftop PV array and receive a portion of the electricity generated on site. Savings through the consumption of this electricity will appear on the hosts electricity bills.

Sun Partners can then pre-purchase as much or as little PV electricity from the Yeloha network as they would like. The electricity is offered at a discount on standard retail rates, with the discount depending on the amount of electricity purchased.

Yeloha says that its P2P solar service benefits from not involving “burdensome leases” and other obstacles to solar adoption.

The Generaytor team of Amit Rosner, Idan Ofrat and Paolo Tedone are the founders of Yeloha.

“Our mission is to create and accelerate the confluence of the Sharing Economy and solar energy,” said Amit Rosner, co-founder and CEO, Yeloha. “We’ve seen the extraordinary impact of collaborative connections in many industries – from transportation to travel. Now, the power of sharing comes to solar power.”

Yeloha is launching in Massachusetts and initially by invitation only.

The startup is not the first to tap into the solar P2P model, with Mosaic (formerly Solar Mosaic) have blazed the trail some years previously.

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