Terra Energy, a residential solar subscription provider based in Miami, announced it has closed a $105 million funding round to support its expansion beyond Florida into Texas and, next, California. The company said the final component of the series was a $35 million green loan financing from Breakwall Capital.
The financing package also included equity investment from ARC PE and Azora Capital, along with credit facilities from Banesco and First Horizon Bank. Terra said the group of bank and capital partner financings reflects support for its growth over the past 24 months and is intended to further accelerate its scale-up in new markets.
Terra positions itself to address long-standing barriers to residential solar adoption by offering a short-term subscription with no upfront costs, rather than traditional long-term financing. The company said its model is designed to reduce contract complexity and shift risk away from homeowners, while providing up to 50% savings on electricity bills, with insurance and maintenance included.
As Terra broadens its footprint, the company emphasizes a vertically integrated approach that spans system design, installation, monitoring, service, and customer support. Terra said it uses proprietary technology to deliver day-one savings while also supporting grid resilience.
Advisers on the transaction included Greenberg Traurig as legal counsel and Barkers Point Capital Advisors as placement agent for Terra. Breakwall was advised by Vinson & Elkins as legal counsel and Teneo as an independent technical and commercial adviser.
KEY QUOTES
“The AI revolution unfolding right now has been tied to one thing: access to more energy. The old residential solar business model didn’t work. It was too complicated, too expensive, and pushed too much risk onto homeowners. Terra fixes that. Our vertically integrated and customer-first approach delivers energy that saves customers significant money on day one, with no debt, no equipment burden, and no long-term lock-in. Breakwall’s partnership accelerates our expansion at the exact moment regulatory incentives shift decisively toward a cleaner and more efficient way to go solar.”
Jaime Martinez, CEO and Founder, Terra
“We are thrilled to partner with Terra as they continue their growth within Florida and expand into new markets. Their subscription model eliminates friction, aligns incentives, and directly addresses the affordability and reliability issues that have long held back the industry. While the Terra model is purposefully set up to meet the evolving demands of the solar consumer, we believe Breakwall was uniquely positioned to structure a loan that best addresses their business needs and helps facilitate their long-term goals.”
Walt Hughes, Managing Director, Breakwall
