Launch · Climate, Energy & Sustainability

SolarSquare plans 30 new cities, eyes international expansion

By Startup Enthusiast · 27 June 2025

What they do

SolarSquare Energy installs and services residential solar systems across 20 Indian cities

It plans to enter 30 more cities by end of FY26 and is exploring international markets

The company doubled revenue to Rs 340 crore in FY25 and targets profitability by FY27

SolarSquare Energy plans to enter 30 new cities by the end of FY26, expanding from its current 20-city presence.
The company is exploring international expansion, with early-stage discussions ongoing.
It closed a $40 million Series B round in December 2024, led by Lightspeed with participation from Lightrock, Elevation, Lowercarbon, and Rainmatter.
This was the largest funding round ever for an Indian residential solar startup.
SolarSquare is not actively fundraising now; it may consider a Series C in mid-to-late FY26 for international expansion.
The Series B runway is sufficient until early FY27.
The company expects strong double-digit revenue growth in FY26 and targets profitability by FY27.
FY26 will be an investment year for expansion, R&D, and tech; the operational flywheel is expected by FY27 for profitability and IPO readiness.

Only 1% of Indian homes have adopted solar so far, indicating a massive untapped market.
India added 1.2 GW rooftop solar capacity in Jan-Mar 2025, a 232% increase over the same quarter in 2024.
Rising power bills, government subsidies, and growing awareness are driving residential solar adoption.

SolarSquare focuses on high-potential states: Uttar Pradesh, Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, and Tamil Nadu.
It offers post-installation services (maintenance, monitoring, health checkups) expected to grow 4x and improve margins.
The company is introducing solar-plus-storage solutions for homes in areas with unreliable grids.
New financing models include zero-cost EMI plans, subscription models, and upgraded service packages.
It is scaling a 'solar captain' network of local influencers to educate housing societies and neighbourhoods.
Partnerships with real estate developers, EV ecosystem players, and financial institutions help embed solar at home purchase or bundled finance.
SolarSquare is investing in vernacular content, explainers, and influencer-led campaigns to make solar relatable.
It plans to open Experience Centres for personalised consultations, interactive demos, and expert guidance.
The company is building a remote asset management and monitoring platform for residential solar systems.

Product: End-to-end rooftop solar solutions including consultation, installation, financing, monitoring and after-sales support
Customers: Residential homeowners seeking to install rooftop solar systems
How it makes money: B2C solar solutions provider with financing options and recurring monitoring revenue
What sets it apart: Installed systems in 50,000+ homes across 29 cities with technology platform and financing partnerships