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Spruce Power
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Short description

Provider of power purchase (PPA) financing for solar PV installations, as well as customer acquisition software for installers

Founded in 2015
Founded in

Company type Private Public ()
Company type

Industry Group energy & power

Sector energy services

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

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Headquarters San Francisco, CA San Francisco, United States
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Updated by Alison Mickey at Kilowatt Financial on 10/04/2016

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  • 1 M&A items
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Date Company
Partnerships
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Date Partner Type
04/08/2021
Sonnen Sonnen
The partnership now opens the door for Spruce’s 50,000 existing residential solar customers to upgrade their home solar systems with a battery storage solution. The two companies are also early in talks to create virtual power plant projects in emerging distributed energy resource aggregation markets such as New York and California.
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Confirmed by Sonnen
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IPO INFORMATION

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Description

Date Investors Type Amount
05/17/2019 HPS Investment Partners HPS Investment Partners (1)
Post-money valuation of
The follow-on investment provides support for continued growth through acquisition of solar assets.
Growth Equity $50,000,000
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SpruceFlow

A software-as-a-service tool that allows solar professionals to propose, quote and design DG solar systems. SpruceFlow for Sales is the sale application, and SpruceFlow for Finance is allows companies to finance deals with simple milestones.

Wide Commercial Availability License of Usage
$/kW (current)
$/kW (projected)
$/kWh (current)
$/kWh (projected)
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