Invested Funds: $12 Million Allocated for Enhancing Solar Power Innovation
In a significant development for the solar energy sector, Planted Solar, a pioneering platform designed to streamline solar project delivery, has secured $12 million in funding. This investment is expected to accelerate the development of the platform, aiming to further improve returns and efficiency for developers and investors.
The solar industry is currently experiencing unprecedented demand and deployment challenges, particularly in the U.S. and Asia-Pacific markets. Developers face land constraints, rising costs, and execution difficulties that can extend project timelines. Planted Solar's platform aims to address these issues by integrating smarter digital planning, high-density terrain-following hardware, and rapid installation tools.
The platform is designed to deliver solar projects twice as fast, with up to 50% less land use, accommodating slopes up to 27%. This not only reduces costs significantly but also lowers risks and expands project pipelines. The high-density, terrain-following hardware reduces land use by half, eliminating costly site grading, and enabling use of challenging terrains.
The rapid installation technology via field robotics and simplified components boosts labor productivity, decreases field errors, and accelerates build times. Furthermore, the platform uses up to 70% less steel, reducing structural and transport expenses. Overall, the generation cost is estimated to be reduced by about 30%, improving margins and return on investment (ROI) for developers and investors.
Planted Solar, founded in 2020, has been active in the U.S. market and is now expanding operations in Asia-Pacific and European markets. With the secured funds, the company plans to forge strategic partnerships globally. Mark Gudiksen, Managing Partner at Piva Capital, which led the funding round, believes Planted Solar's platform addresses some of the solar industry's biggest roadblocks.
The platform's key features include a unified digital workflow that replaces fragmented tools, optimizing layouts, energy models, and engineering drawings for faster project turnaround and seamless field execution. The platform's capabilities also unlock previously infeasible sites, critical in markets with constrained land availability and rising demand for clean energy.
In summary, Planted Solar’s platform transforms solar deployment efficiency and profitability by combining advanced design software, adaptable hardware suited for rugged terrains, and streamlined installation methods, driving a smarter, faster, and more cost-effective path to solar energy generation. The platform is capable of deployment two times faster than conventional methods and is designed to deliver less risk, better returns, and faster time to power.
- The $12 million investment in Planted Solar, a platform streamlining solar project delivery, will also be utilized to venture into the finance and technology sectors, with the aim of developing innovative solutions for investors and solar developers.
- As Planted Solar expands its operations, it intends to seek strategic allies in the energy and technology industries, leveraging their resources and expertise to enhance its platform's capabilities and accelerate the global adoption of clean, efficient renewable energy.
