Daylight Energy, a DePIN project, has successfully raised $75 million to scale its crypto-powered energy network that turns residential homes into distributed power plants.
The capital raise, which combines equity and project development financing, was led by a crypto venture capital firm, Framework Ventures.
The total financing package includes $15 million in equity funding, led by Framework Ventures, with participation from a16z crypto, Coinbase Ventures, and Lerer Hippeau. $60 million was raised for the project development facility, led by Turtle Hill Capital, which will be used to fund installations of home solar and battery storage systems.
According to the press release, more than 60% of residential solar costs come from marketing and acquisition, forcing homeowners to wait years to see savings while installers struggle with expensive financing. Daylight aims to use decentralized technology and crypto-native incentives to make distributed energy adoption faster and more affordable than traditional centralized power systems.
The network turns homes into “mini power plants,” allowing families to lower energy bills, secure backup power, and earn rewards, currently “Sun Points” for contributing excess energy back to the power grid.
A key feature of Daylight’s expansion is the launch of DayFi, a new Decentralized Finance (DeFi) protocol. DayFi is designed to open energy infrastructure to the crypto ecosystem by allowing investors to earn yield tied directly to the electricity revenues generated by the network’s portfolio of solar and storage assets.
Vance Spencer, Co-Founder of Framework Ventures, said, “We believe Daylight has a credible path to becoming the financing layer for distributed energy… As AI accelerates global power demand, and energy costs rise, we think Daylight is uniquely positioned to meet the moment by connecting capital to the next generation of renewable infrastructure.”
Currently, Daylight Energy is financing subscriptions in Massachusetts and Illinois by embedding financing with local solar companies as well as through direct origination. Daylight will soon expand into DeFi-based financing in Q4.
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