Lumio

Lumio operates as a significant entity in the U.S. residential solar market, focusing on the installation and servicing of solar power systems for homeowners. The company was established in December 2020 and is headquartered in Lehi, Utah. Its formation was the result of a strategic acquisition of five regional solar providers: Atlantic Key Energy, DECA, LIFT Energy, Our World Energy, and Smart Energy Today. This consolidation provided Lumio with immediate scale, positioning it as a top-five residential solar provider in the U.S. shortly after its launch.

The company was co-founded by Chairman Greg Butterfield, a serial entrepreneur with a track record of scaling multiple companies to billion-dollar valuations, and CEO Jonathan Gibbs, who previously led Smart Energy Today. In March 2024, Andrew Walton, with extensive experience from Sunrun and SnapNrack, was appointed as the new CEO. The business targets homeowners, offering them a path to energy independence and reduced reliance on the conventional power grid. The business model is vertically integrated, meaning Lumio controls the entire customer process from initial sales consultation and system design to permitting, installation, and activation. This comprehensive approach allows the company to manage quality and reduce installation timelines significantly, averaging under 30 days compared to the industry's 60-90 day standard.

Lumio generates revenue through the sale and installation of solar energy systems. To make the transition to solar power more accessible, the company offers a variety of financing options, including direct purchase, solar loans, leases, and power purchase agreements (PPAs). Beyond solar panel installation, the company's service portfolio includes the installation of solar batteries for energy storage, EV chargers, and ancillary services like roofing repairs and tree removal to prepare homes for solar conversion. A key aspect of their strategy is national buying power, which enables them to negotiate lower costs on hardware like the black monocrystalline panels they exclusively use, passing savings to the customer. The company has demonstrated substantial growth, securing a $110 million investment in December 2021 and an additional $40 million in venture capital by March 2024 to fuel its expansion and mission. In late 2024, Lumio's assets were acquired by Zeo Energy after filing for Chapter 11 relief.

Keywords: residential solar, solar installation, renewable energy, home energy solutions, solar financing, solar panels, energy storage, EV chargers, power purchase agreement, solar lease, vertical integration, decentralized power, sustainable energy, home improvement, energy independence, clean energy, rooftop solar, solar battery, energy management, renewable power systems