Canarymedia headline: Lunar Energy enters solar+battery field with $300M investment
Sub-headline: Sunrun, SK Group and others back the startup’s plan to break into a crowded market with integrated home battery systems and broader energy controls.
26 August 2022
The residential market for solar systems paired with batteries is complicated, with lots of companies competing with one another and sharing customers at the same time. All have different offerings, each with its pros and cons and available in various configurations.
As the former head of Tesla’s residential energy business, Kunal Girotra understands just how complicated that market is. As CEO and founder of newly unstealthed startup Lunar Energy, he sees room for an ?“end-to-end home battery system” to break through the clutter — and for a broader set of technologies down the road to ?“transform homes to 100 percent clean energy.”
Wednesday’s unveiling reveals significant backing for this concept. Since its quiet founding in 2020, the Mountain View, California–based startup has raised two investment rounds adding up to $300 million, led by U.S. residential solar leader Sunrun and South Korean battery giant SK Group.