Project Solar

Deal Snapshot

Company: Project Solar, Inc.

Website: projectsolar.com

Sector / Category: Clean Energy / Residential solar installation / Solar marketplace & installation platform

Headquarters: Lehi, Utah, USA

Founded: 2020

Investor: Frazier VC

Investment Vehicle: Fund IV (and earlier investments)

Deal Type: Primary + Secondary

Round Type(s): Convertible Note, Series A

Company Overview

Project Solar is a residential solar company focused on simplifying the process of going solar for homeowners. The company combines software, pricing transparency, and an installation network to reduce costs and improve the customer experience compared to traditional door knocking solar sales models. Project Solar’s approach is designed to make solar adoption more accessible while maintaining quality and efficiency in installation and service delivery.

Investment Summary

Frazier VC invested in Project Solar across multiple transactions beginning in 2021, reflecting conviction in the company’s mission to modernize residential solar adoption. These investments included participation through a convertible note and a Series A round. Fund IV completed secondary purchases in June 2023, providing liquidity to existing stakeholders while maintaining exposure to the company’s long-term growth potential.

Why We Invested

Frazier VC invested in Project Solar because we believe the company is positioned for growth in a large and expanding clean energy market. Project Solar’s model is designed to scale efficiently by reducing customer acquisition costs and increasing pricing transparency through technology-enabled workflows. We value the company’s differentiated approach to solar installation, which challenges traditional sales-heavy models and aligns incentives with homeowners. The operational complexity of nationwide solar deployment creates meaningful barriers to entry, and we place strong emphasis on leadership teams that can execute through regulatory, operational, and market complexity.