Decentralised energy firm Daylight Energy has raised $75 million to expand its network, enabling homeowners to generate and share power. Founded in 2022 and based in New York, Daylight offers a model that helps homeowners lower energy costs and maintain power during outages. This is achieved through solar and battery storage installations that return excess energy to the grid. By subscribing to Daylight’s service, homeowners receive solar panels and battery storage at a reduced rate compared to traditional utilities. Daylight then aggregates stored energy and sells it back to the grid during peak demand, sharing revenues with participants.
The company aims to cut high marketing and financing costs that hinder residential solar adoption, using decentralised finance to align incentives and reward participation. Homeowners earn ‘Sun Points’ for supporting network growth, and there are plans to introduce a network token.
Daylight has also launched DayFi, a yield protocol allowing investors to earn returns linked to electricity revenues from its growing solar and storage portfolio. Currently funding subscriptions in Illinois and Massachusetts, the new financing will enable further expansion and enhancement of the DayFi protocol.
CEO Jason Badeaux stated, “To build the largest decentralised energy network in the world, you need to incentivise behavioural change to adopt distributed energy and catalyse significant capital. Crypto is uniquely suited for this, creating opportunities to align incentives, reduce costs, and rebuild the industry on a foundation of transparency, ownership, and shared economic upside.”
The funding includes $15 million in equity led by Framework Ventures, with support from a16z crypto, Lerer Hippeau, M13, Room40 Ventures, EV3, Crucible Capital, Coinbase Ventures, and Not Boring Capital. Additionally, a $60 million project development facility was led by Turtle Hill Capital. Turtle Hill Capital CEO Zeev Krieger commented, “This is a dream project for a creative finance team, combining a novel business model with purpose-built specialty credit to accelerate distributed energy deployment. The stakes and potential impact are profound, particularly as traditional subsidy models face uncertainty and change.”
