Silicon Valley Bets on Solar Startup as US Sector Shrinks

Venture capitalists are among investors putting $75 million into a US startup’s push to install home solar and batteries for an electricity subscription — just as the residential market shrinks.

Daylight Energy raised the funds in a round that included $15 million in equity led by Framework Ventures with participation from Andreessen Horowitz, Lerer Hippeau, M13, Room40 Ventures and EV3, according to a statement. The $60 million raised for project development, led by Turtle Hill Capital, will be used to install equipment starting with about 1,200 homes in Illinois and Massachusetts.

Participants will be able to sell excess power ...