Omnidian closes $15 million for solar system performance guarantees

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ImpactAlpha, June 26 – Seattle-based Omnidian is de-risking solar energy systems by selling homeowners and asset managers performance guarantees for the systems they buy. The company has raised $15 million, led by insurance-focused venture capital firm IA Capital led the round.

Omnidian sells guarantees to home solar system owners on a subscription-basis via solar dealers, lenders and installers. Its monitoring software then goes to work to estimate a system’s baseline production and tracks changes in performance. When their software detects an issue, it works with technicians to examine the system. Omnidian guarantees 100% of the baseline energy or it reimburses customers.

Omnidian’s Mark Liffmann said in an interview that its product takes the pressure off of homeowners and asset owners to “maintain these complicated assets.”

Source: ImpactAlpha –