Altus Power, Inc. (AMPS): Modelo de negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução da energia renovável, a Altus Power, Inc. (AMPS) surge como uma força transformadora, reimaginando como as empresas podem aproveitar soluções de energia sustentável. Ao integrar estrategicamente tecnologias solares avançadas, modelos inovadores de financiamento e serviços abrangentes de gerenciamento de energia, essa empresa dinâmica não está apenas vendendo instalações solares-elas são entregando uma abordagem holística à energia limpa que promete custos reduzidos, sustentabilidade ambiental e longo prazo e longo prazo Resiliência econômica para clientes comerciais e industriais em diversos setores.

Altus Power, Inc. (AMPS) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com fabricantes de painéis solares

A Altus Power estabeleceu parcerias com os seguintes fabricantes de painéis solares:

Fabricante	Detalhes da parceria	Volume anual de oferta
Primeiro Solar, Inc.	Contrato de fornecimento de módulos solares de longo prazo	75 MW por ano
Canadian Solar Inc.	Contrato de aquisição de painéis fotovoltaicos	50 MW por ano

Colaborações com proprietários comerciais e industriais

As principais parcerias do proprietário da Altus Power incluem:

• Parar & Shop Supermarket Chain - 23 instalações solares na cobertura
• Centros de logística da Amazon - 7 projetos solares distribuídos
• United Natural Foods, Inc. - 12 sites de geração distribuída

Relacionamento com empresas de serviços públicos e operadores de grade energética

Acordos de interconexão com utilitários regionais:

Empresa de serviços públicos	Cobertura do estado	Capacidade de interconexão
Eversource Energy	Connecticut, Massachusetts	35 MW
Grade nacional	Nova York, Rhode Island	25 MW

Parcerias financeiras com bancos e empresas de investimento

Detalhes da parceria financeira atual:

• Goldman Sachs - Linha de crédito de US $ 150 milhões
• Morgan Stanley - Contrato de Finanças do Projeto de US $ 75 milhões
• Keybank - Linha de investimento em energia renovável de US $ 100 milhões

Provedores de serviços de tecnologia e engenharia

Principais parcerias de tecnologia e engenharia:

Provedor	Tipo de serviço	Valor anual do contrato
Schneider Electric	Sistemas de gerenciamento de energia	US $ 2,5 milhões
ABB LTD	Tecnologia do inversor solar	US $ 1,8 milhão

Altus Power, Inc. (AMPS) - Modelo de negócios: Atividades -chave

Desenvolvendo e instalando sistemas de energia solar

A partir do quarto trimestre 2023, o Altus Power foi implantado 241,8 MW de sistemas de energia solar em vários locais comerciais e industriais.

Tipo de sistema solar	Total de instalações	Cobertura geográfica
Solar na cobertura	126 instalações	Nordeste dos Estados Unidos
Solar de montagem no solo	54 instalações	Vários estados

Fornecendo soluções de energia limpa para clientes comerciais e industriais

Altus Power serve 274 clientes comerciais e industriais em vários setores.

• Instalações de varejo
• Fábricas
• Complexos de armazenamento
• Infraestrutura municipal

Gerenciamento e manutenção da infraestrutura de energia solar

Orçamento anual de manutenção de infraestrutura: US $ 6,3 milhões para 2024.

Atividade de manutenção	Freqüência	Custo médio
Limpeza do painel	Trimestral	$ 0,02/watt
Monitoramento do desempenho do sistema	Contínuo	US $ 1,2 milhão anualmente

Desenvolvendo tecnologias de armazenamento de energia

Capacidade atual de armazenamento de energia: 72,5 mwh nos sistemas implantados.

• Sistemas de bateria de íons de lítio
• Soluções de armazenamento em escala de grade
• Armazenamento nos bastidores

Execução do financiamento do projeto de energia renovável

Financiamento total do projeto em 2023: US $ 187,4 milhões.

Fonte de financiamento	Quantia	Percentagem
Investidores institucionais	US $ 112,4 milhões	60%
Ligações verdes	US $ 45,6 milhões	24%
Private equity	US $ 29,4 milhões	16%

Altus Power, Inc. (AMPS) - Modelo de negócios: Recursos -chave

Painel solar avançado e tecnologias de armazenamento de energia

Altus Power mantém um portfólio de 48 MW de projetos de armazenamento solar e de energia em vários locais comerciais e industriais. A infraestrutura de tecnologia da empresa inclui:

Categoria de tecnologia	Detalhes específicos	Escala de implantação
Tecnologia do painel solar	Módulos fotovoltaicos de alta eficiência	48 MW Capacidade instalada
Sistemas de armazenamento de energia	Tecnologia de bateria de íons de lítio	Vários sites comerciais

Experiência em engenharia técnica

A equipe de engenharia da Altus Power compreende profissionais com origens especializadas:

• Experiência média de engenharia: mais de 12 anos
• Especializado em infraestrutura de energia renovável
• Especialização em sistemas de armazenamento solar e de bateria

Equipe de gerenciamento experiente

Posição de liderança	Antecedentes profissionais	Anos de experiência
CEO	Investimento de infraestrutura energética	Mais de 20 anos
Diretor Financeiro	Serviços financeiros e energia renovável	Mais de 15 anos

Capital financeiro e recursos de investimento

Métricas financeiras a partir do quarto trimestre 2023:

• Total de ativos: US $ 341,7 milhões
• Receita total: US $ 89,4 milhões
• Caixa e equivalentes em dinheiro: US $ 37,2 milhões

Software proprietário para gerenciamento de energia

Capacidade de software	Funcionalidade	Métricas de desempenho
Plataforma de monitoramento de energia	Rastreamento de desempenho em tempo real	99,8% de tempo de atividade do sistema
Sistema de manutenção preditiva	Algoritmos de diagnóstico automatizados	Reduz os custos de manutenção em 22%

Altus Power, Inc. (AMPS) - Modelo de negócios: proposições de valor

Soluções de energia sustentável e limpa para empresas

A Altus Power gerou US $ 102,1 milhões em receita para o ano fiscal de 2022, com 100% de seu portfólio focado em soluções de armazenamento solar e de energia industrial e industrial.

Tipo de solução energética	Capacidade	Geração anual
Solar comercial	197 MW	242.000 MWh
Armazenamento de energia	50 mw	120.000 MWh

Custos de energia reduzidos para clientes comerciais

As soluções solares da Altus Power fornecem uma redução média de custos de 20 a 30% para clientes comerciais.

• Economia típica do cliente: US $ 250.000 - US $ 750.000 anualmente
• Redução de custos de eletricidade: 15-25 centavos por kWh

Menor pegada de carbono e impacto ambiental

Métrica ambiental	Impacto anual
As emissões de CO2 evitaram	175.000 toneladas métricas
Árvores equivalentes plantadas	2,9 milhões de árvores

Sistemas de energia renovável personalizados

A Altus Power serve a vários segmentos da indústria com soluções solares personalizadas:

• Varejo: 35 MW Capacidade instalada
• Logística: 42 MW Capacidade instalada
• Fabricação: 58 MW Capacidade instalada
• Saúde: 22 MW Capacidade instalada

Estabilidade e previsibilidade de custos de energia a longo prazo

A Altus Power oferece contratos de compra de energia (PPAs) com taxas fixas por 15 a 25 anos, fornecendo certeza de preços para clientes comerciais.

Duração do contrato	Estabilidade média da taxa
PPA de 15 anos	± 2% de ajuste anual de preços
PPA de 25 anos	± 1,5% de ajuste anual de preços

Altus Power, Inc. (AMPS) - Modelo de negócios: relacionamentos com o cliente

Abordagem de vendas consultiva

A Altus Power implementa uma estratégia consultiva de vendas especializada, direcionada aos clientes comerciais e industriais de energia solar. A partir do quarto trimestre de 2023, a empresa registrou 1.285 relacionamentos ativos de clientes comerciais em 14 estados dos EUA.

Segmento de clientes	Número de clientes	Valor médio do contrato
Imóveis comerciais	412	US $ 1,2 milhão
Fabricação industrial	356	US $ 1,5 milhão
Logística & Transporte	287	$890,000

Serviços contínuos de manutenção e suporte

A empresa fornece serviços de manutenção abrangentes com uma garantia de tempo de atividade de 98,7% do sistema. O valor anual do contrato de manutenção varia de US $ 50.000 a US $ 250.000, dependendo da complexidade do sistema.

• Monitoramento remoto 24/7
• Protocolos de manutenção preditivos
• Suporte técnico de resposta imediata

Monitoramento e relatório de desempenho

A Altus Power utiliza plataformas digitais avançadas para geração de energia em tempo real e rastreamento de desempenho. Os clientes recebem relatórios abrangentes mensais detalhando:

Métricas de relatórios	Freqüência	Nível de detalhe
Produção de energia	Mensal	Geração Kilowatt-Hour
Offset de carbono	Trimestral	Toneladas métricas
Economia financeira	Anualmente	Redução de custo projetada

Suporte técnico ao cliente

A infraestrutura de suporte técnico inclui:

• Equipe de suporte dedicada de 42 especialistas técnicos
• Tempo médio de resposta: 17 minutos
• Capacidades de diagnóstico remotas

Soluções de energia personalizadas

Soluções solares personalizadas com configurações específicas:

Tipo de solução	Nível de personalização	Tempo de implementação
Solar na cobertura	Alto	3-6 meses
Sistemas de montagem no solo	Médio	4-8 meses
Carport Solar	Alto	5-9 meses

Altus Power, Inc. (AMPS) - Modelo de Negócios: Canais

Equipe de vendas diretas

A equipe de vendas direta da Altus Power se concentra nas soluções de energia solar comercial e industrial B2B. No quarto trimestre 2023, a empresa relatou uma equipe de vendas de 47 profissionais dedicados direcionados a segmentos de mercado específicos.

Métrica do canal de vendas	2023 dados
Total de representantes de vendas diretas	47
Tamanho médio de negócios	US $ 1,2 milhão
Taxa de conversão de vendas	22.5%

Plataformas digitais online

A Altus Power utiliza vários canais digitais para aquisição e engajamento de clientes.

• Site: Altuspower.com
• Página da empresa do LinkedIn: 12.500 seguidores
• Plataformas de geração de leads digitais
• Sistema de proposta de projeto solar online

Serviços de consultoria em energia

A Altus Power fornece serviços abrangentes de consultoria em energia em vários setores.

Serviço de consultoria	2023 Receita
Consultoria solar comercial	US $ 4,3 milhões
Otimização de energia industrial	US $ 3,7 milhões

Conferências e feiras do setor

A Altus Power participa ativamente de eventos do setor de energia renovável para expandir a rede e gerar leads.

• Participou de 17 conferências em 2023
• Gerou 128 leads qualificados através da participação na feira
• Principais Eventos: Solar Power International, Conferência de Energia Renovável

Redes de referência de parceria estratégica

A empresa mantém parcerias estratégicas para aprimorar a distribuição de canais.

Tipo de parceiro	Número de parceiros	Receita de referência
Fabricantes de equipamentos solares	12	US $ 2,1 milhões
Empresas de consultoria de energia	8	US $ 1,6 milhão
Redes imobiliárias comerciais	6	US $ 1,3 milhão

Altus Power, Inc. (AMPS) - Modelo de negócios: segmentos de clientes

Empresas imobiliárias comerciais

A Altus Power atende clientes imobiliários comerciais com soluções de armazenamento solar e de energia. A partir do quarto trimestre de 2023, a empresa implantou aproximadamente 104 MW de ativos solares em carteiras comerciais de imóveis.

Segmento de clientes	Total de instalações solares	Economia anual de energia
Imóveis comerciais	104 MW	US $ 12,3 milhões

Instalações de fabricação industrial

A Altus Power fornece soluções de energia renovável para clientes industriais de fabricação, concentrando -se na redução dos custos operacionais de energia.

• Total de clientes industriais de manufatura: 37
• Redução média de custo de energia: 22%
• Capacidade instalada cumulativa para segmento industrial: 65 MW

Negócios de varejo e logística

A empresa tem como alvo os setores de varejo e logística com soluções personalizadas de armazenamento solar e de energia.

Tipo de cliente	Número de clientes	Capacidade total instalada
Varejo	24	42 MW
Logística	18	33 MW

Instituições municipais e governamentais

A Altus Power atende clientes municipais e governamentais com infraestrutura de energia renovável.

• Total de clientes municipais: 15
• Instalação solar agregada: 28 MW
• Redução anual estimada de carbono: 19.500 toneladas métricas

Organizações educacionais e de saúde

A empresa fornece soluções de energia renovável especializadas para setores educacionais e de saúde.

Setor	Contagem de clientes	Capacidade solar total
Instituições educacionais	22	36 MW
Organizações de saúde	12	21 MW

Altus Power, Inc. (AMPS) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Altus Power, Inc. relatou despesas de pesquisa e desenvolvimento de US $ 4,2 milhões, representando aproximadamente 3,7% da receita total.

Painel solar e compra de equipamentos

Categoria de equipamento	Custo anual de compras
Painéis solares	US $ 22,5 milhões
Inversores	US $ 6,3 milhões
Sistemas de montagem	US $ 3,8 milhões

Custos de instalação e implementação do projeto

Os custos médios de implementação do projeto da Altus Power para instalações solares comerciais e industriais variam entre US $ 1,50 a US $ 2,25 por watt, totalizando aproximadamente US $ 18,6 milhões em 2023.

Despesas operacionais e de manutenção

• Custos anuais de manutenção: US $ 5,7 milhões
• Monitoramento e gerenciamento do site: US $ 2,3 milhões
• Infraestrutura de suporte técnico: US $ 1,9 milhão

Investimentos de vendas e marketing

As despesas de vendas e marketing da Altus Power em 2023 foram de US $ 7,5 milhões, representando 6,6% da receita total da empresa.

Canal de marketing	Alocação
Marketing digital	US $ 2,6 milhões
Equipe de vendas diretas	US $ 3,4 milhões
Feiras e eventos	US $ 1,5 milhão

Altus Power, Inc. (AMPS) - Modelo de negócios: fluxos de receita

Taxas de instalação do sistema de energia solar

No quarto trimestre 2023, a Altus Power relatou receitas de instalação de US $ 22,4 milhões em projetos solares comerciais.

Receita de contrato de energia de longo prazo

Tipo de contrato	Receita anual	Duração média do contrato
Contratos solares comerciais	US $ 37,6 milhões	15-20 anos
Acordos de energia industrial	US $ 18,3 milhões	10-15 anos

Vendas de tecnologia de armazenamento de energia

Em 2023, a Altus Power gerou US $ 12,7 milhões em vendas de sistemas de armazenamento de bateria.

Contratos de economia de energia baseados em desempenho

• Receita total do contrato de desempenho: US $ 8,5 milhões em 2023
• Valor médio do contrato: US $ 1,2 milhão por cliente
• Garantia de economia de energia: redução de 15-25% nos custos de energia

Governo e incentivos energéticos renováveis

Tipo de incentivo	Valor total em 2023
Créditos fiscais federais de investimento	US $ 14,2 milhões
Créditos de energia renovável do estado	US $ 6,7 milhões

Fluxos totais de receita para 2023: US $ 92,3 milhões

Altus Power, Inc. (AMPS) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Altus Power, Inc. now that the company has transitioned to private ownership under TPG. The value proposition is built on delivering reliable, clean power with tangible financial and environmental benefits. It's about locking in certainty in an uncertain energy market.

Lower energy costs via long-term, fixed-price PPAs

The foundation of the financial value proposition is the long-term Power Purchase Agreement (PPA). You secure a fixed price, which is crucial when utility prices are volatile. To give you a sense of the contract duration, the amortization period for the value ascribed to these in-place PPAs and Net Metering Credit Agreements (NMCAs) typically runs between 15-25 years. This long-term certainty helps manage operational costs. Here's the quick math: Altus Power benefits significantly from rising utility prices; every 1% increase in power prices translates to about a 0.4% bump in revenue, which flows through almost entirely to the bottom line due to the high fixed-cost nature of the assets. This structure is what makes the revenue base so attractive, underpinning the approximate $279.23 million in projected fiscal year 2025 revenue.

Clean, locally-sited electric power generation

Altus Power, Inc. is positioned as the largest owner of commercial scale solar in the US, focusing on distributed generation. This means the power is generated close to where it's consumed, which helps ease strain on transmission infrastructure, a growing concern with data center expansion. As of the end of Q1 2024, the operating asset portfolio stood at 981 MW, representing a 45% year-over-year growth. By late 2024, the company had surpassed 1 GW in operating projects across 25 states. This scale provides reliability and geographic diversification for customers.

End-to-end solution: origination, development, ownership, operation

You aren't just buying power; you're buying a fully managed asset lifecycle. Altus Power, Inc. handles everything from finding the site (origination) to flipping the switch (operation). This full-service approach is key to their platform. They operate more than 500 projects across the nation. This integrated model allows them to execute on growth, as evidenced by the 2024 highlights which included completing approximately 56 MW of new-build assets and adding about 96 MW of assets in operation. This comprehensive control over the asset base is what TPG valued in the April 2025 acquisition, which valued the company at approximately $2.2 billion including debt. The current Enterprise Value as of November 2025 (TTM) is $1.08B.

Corporate sustainability goal achievement (decarbonization)

For corporate clients, the value is in verifiable carbon reduction data. Altus Power, Inc. provides the necessary metrics to help enterprises meet their Environmental, Social, and Governance (ESG) targets. The impact is concrete: in 2023 alone, their solar projects generated 780,000 MWh of renewable electricity, which avoided roughly 551,000 metric tons of CO2(e) emissions. This focus on measurable environmental impact is a core part of their offering, which is supported by their digital solutions for carbon reporting.

Community Solar access for renters and non-solar-suitable homes

This is where Altus Power, Inc. brings clean energy to the residential sector without requiring rooftop installation. The savings for subscribers are guaranteed to be between 5% and 20%, depending on the specific location. The scale of this program is substantial; in 2024, energy from their Community Solar projects served more than 30,000 subscribers nationwide, avoiding 265 million pounds of carbon dioxide emissions. Furthermore, recent acquisitions, like the one in Maryland in April 2025, are set to provide clean power benefits to approximately 8,000 customers in that state alone. This access democratizes clean energy savings for those who can't install their own panels.

You can see the key metrics supporting these value propositions laid out here:

Value Proposition Metric	Data Point	Context/Year
Guaranteed Customer Savings (Community Solar)	5% to 20%	As of late 2025
2024 Community Solar Subscribers Served	More than 30,000	2024
2024 Community Solar CO2 Avoided	265 million pounds	2024
PPA/NMCA Amortization Period	15-25 years	Asset life basis
Operating Projects Nationwide	More than 500	As of late 2024
2023 Total CO2 Avoided (All Projects)	Approximately 551,000 metric tons	2023
FY 2025 Projected Revenue	$279.23 million	FY 2025 Forecast
Implied Acquisition Enterprise Value	Approximately $2.2 billion	April 2025 Transaction

The company's ability to deliver on these points is what drove the acquisition valuation. Finance: draft 13-week cash view by Friday.

Altus Power, Inc. (AMPS) - Canvas Business Model: Customer Relationships

You're looking at how Altus Power, Inc. builds and maintains its connections with the entities buying its clean power. The relationship structure is built around long-term certainty, which is key for financing these assets. Since the acquisition by TPG in April 2025 for $5.00 per share, the focus remains on accelerating this established, long-term customer engagement model, backed by significant capital now available to the privately-held company.

Dedicated long-term contract management (PPAs).

The backbone of Altus Power, Inc.'s customer relationship is the Power Purchase Agreement (PPA). These are not short-term deals; the favorable and unfavorable rate PPAs and SREC agreements are amortized over the remaining non-cancelable terms, which can range from 15 to 25 years. This long duration provides predictable cash flows, which is essential for securing project financing. PPA contracts were a primary growth driver, increasing revenue by 30% in the first half of 2024 compared to the same period in 2023.

Here is a snapshot of the scale of the contracted customer base, using the latest available figures:

Customer Relationship Metric	Data Point	Context/Date
Total Operating Assets	Over 1.1 GW	As of October 2025
C&I Entities with PPAs (Historical Benchmark)	Over 300	As of December 31, 2022
Corporate Customers Served (Historical Benchmark)	About 450	As of December 2023
PPA Revenue Growth (H1 2024 YoY)	30% Increase	First half of 2024

Direct sales and technical consultation for C&I clients.

For Commercial and Industrial (C&I) clients, the relationship starts with direct engagement, often facilitated by the long-standing Commercial Collaboration Agreement with CBRE Group, Inc. This partnership gives Altus Power, Inc. preferred provider status, granting access to an extensive portfolio of commercial and industrial properties for new solar installations. The sales process involves technical consultation to deploy on-site distributed generation systems, such as roof or carport-based photovoltaic systems, tailored to the client's energy needs and ESG goals.

Subscription-based model for Community Solar customers.

The Community Solar segment operates on a subscription basis, offering homeowners and renters discounts on utility bills without panel ownership. This model has scaled significantly. Altus Power, Inc. served more than 35,000 subscribers nationwide as of April 2025. This is up from serving 25,000 community solar customers as of June 30, 2024. Furthermore, recent acquisitions continue to expand this base; for instance, the ten projects acquired in Maryland are expected to provide clean power benefits to approximately 8,000 customers once operational.

The energy generated by these community solar projects in 2024 alone equaled 322,067,187 kilowatt-hours of energy.

Customer Experience Team support for subscribers.

While specific team metrics aren't public, the scale of the customer base necessitates dedicated support. The company's stated goal, even post-acquisition, is to continue delivering greater value to both commercial and Community Solar customers. The relationship extends beyond just power delivery to include the entire clean energy transition ecosystem, positioning Altus Power, Inc. as a one-stop shop.

• Focus on end-to-end solutions for commercial, industrial, public sector, and community solar customers.
• Recent acquisitions, like the 8.6 MW Florida projects, are expected to strengthen the ability to deliver incremental power where needed.
• The partnership with TPG is intended to accelerate operations to meet surging demand for power generation.

Finance: draft 13-week cash view by Friday.

Altus Power, Inc. (AMPS) - Canvas Business Model: Channels

You're looking at how Altus Power, Inc. gets its clean power solutions-from direct customer deals to large portfolio buys-into the market as of late 2025. It's a multi-pronged approach, blending direct selling with major real estate partnerships and strategic asset accumulation.

Direct sales force targeting C&I and public sector

Altus Power, Inc. deploys a scalable sales organization to reach Commercial & Industrial (C&I) customers and the public sector. This effort is supported by a national developer base that brings local expertise to the table. Furthermore, intermediaries connect clients directly to Altus Power, Inc., supplementing the direct team's efforts. Client referrals are an increasingly effective channel, growing as market penetration deepens. As of the filing date around March 4, 2025, Altus Power, Inc.'s total portfolio consisted of over 1 gigawatt ("GW") of solar PV, which is the result of these sales and acquisition channels working together. This direct engagement is crucial for securing the long-term power purchase agreements (PPAs) that underpin asset value.

CBRE partnership for access to commercial real estate portfolio

The strategic relationship with CBRE Group, Inc. provides Altus Power, Inc. with direct access to a massive portfolio of C&I properties. This partnership is designed to identify locally sited clean energy opportunities within CBRE's managed and owned commercial and industrial properties. While the initial partnership was announced earlier, a concrete example from late 2024 involved an agreement to construct a 10.5-megawatt solar project on logistics buildings in New Jersey, with power benefits flowing to CBRE Investment Management (CBRE IM) tenants and local residents via Community Solar. CBRE's global footprint, which includes approximately ~7 billion square feet of owned and managed space, represents a significant channel for future project origination, especially for rooftop and carport arrays.

Strategic acquisitions of existing solar projects/portfolios

A core channel for scaling Altus Power, Inc.'s operational capacity is the strategic acquisition of existing, operational solar projects or development-stage pipelines. This allows for rapid capacity addition without the full development timeline. The year 2025 saw several significant additions to the operational base through this channel:

• Acquired 47.8 MW Portfolio from Tortoise Capital Advisors in New York (May 28, 2025).
• Acquired three operating solar projects in Florida, totaling 8.6 MWs (October 7, 2025).
• Acquired ten development-stage Community Solar projects in Maryland, totaling 58.4 MW (April 8, 2025).

Here's a quick look at the reported 2025 acquisition activity by capacity:

Acquisition Date (Announcement)	Seller/Source	Capacity (MW)	State Focus
October 7, 2025	Origis Energy	8.6	Florida
May 28, 2025	Tortoise Capital Advisors	47.8	New York
April 8, 2025	Prospect14	58.4	Maryland

These transactions defintely move the needle on total installed capacity.

Online enrollment platform for Community Solar subscribers

For the Community Solar segment, Altus Power, Inc. utilizes an online platform for subscriber acquisition. This channel targets homeowners and renters who cannot install behind-the-meter solar. As of early April 2025, Altus Power, Inc. served more than 35,000 subscribers nationwide. The projects currently in operation, which total over 360 megawatts ("MW"), service these residential customers across 9 states. The online process allows customers to check eligibility by zip code and sign up without upfront cost, with guaranteed savings between 5% and 20% depending on location. The Maryland acquisition announced in April 2025 is projected to add approximately 8,000 customers to this base once those projects are operational.

• Nationwide subscribers served (as of April 2025): >35,000.
• Community Solar projects currently in operation: Over 360 MW.
• Guaranteed subscriber savings range: 5% to 20%.

Altus Power, Inc. (AMPS) - Canvas Business Model: Customer Segments

You're looking at the core groups Altus Power, Inc. serves, which directly dictates how they structure their Power Purchase Agreements (PPAs) and Net Metering Credit Agreements (NMCAs).

Commercial and Industrial (C&I) businesses.

This segment is a primary focus, often served through long-term, take-or-pay PPAs, which deliver power at a lower cost than the grid. Based on the last reported half-year data (H1 FY24), revenue from PPAs accounted for 35.81% of total revenue. The market opportunity here is massive; C&I customers are projected to spend over $6 trillion on electricity between now and 2050. Furthermore, the U.S. cumulative installed C&I solar capacity is expected to reach 48 GW by 2030, which represents tapping only 22% of the potential C&I solar market. Altus Power, Inc. surpassed 1 GW of operating assets in 2024, fueling this segment.

Public Sector entities (government, schools).

Altus Power, Inc. explicitly names the public sector as one of its core customer groups, alongside commercial and industrial clients. While specific revenue percentages for this group alone aren't broken out from the PPA or NMCA buckets, their inclusion is central to the company's end-to-end solution offering. The company's asset deployment strategy is designed to meet targets set by governments for renewable generation.

Community Solar subscribers (households, small businesses).

This segment is served via agreements like NMCAs, which made up 27.35% of revenue in H1 FY24. The company actively grows this segment through acquisitions. For example, in April 2025, Altus Power, Inc. acquired ten development-stage community solar projects in Maryland totaling 58.4 MW. Once operational, these projects are set to provide clean electric power benefits to approximately 8,000 customers, with a specific allocation reserved for low-to-moderate income households.

Large real estate portfolio owners (e.g., CBRE clients).

Partnerships with large real estate operators are a key mechanism for deploying distributed generation assets. A concrete example of this focus is the December 2024 announcement where Altus Power, Inc. and CBRE partnered on a 10.5 MW project at the Arsenal Trade Center in New Jersey. This shows direct engagement with major portfolio managers to site solar arrays, often utilizing structures like car canopies.

Here's a quick look at some key operational and financial metrics tied to these customer-facing activities as of late 2025:

Metric/Segment Focus	Associated Value/Amount	Context/Date Reference
Projected FY 2025 Total Revenue	$235.01 million	Consensus Analyst Forecast
Total Operating Assets	Surpassed 1 GW	As of end of 2024
PPA Revenue Share	35.81%	H1 FY24 Revenue Contribution
NMCA Revenue Share	27.35%	H1 FY24 Revenue Contribution
Maryland Community Solar Acquisition	58.4 MW	Acquired April 2025
Estimated Customers from Maryland Deal	Approximately 8,000	Once operational
CBRE Partnership Project Size	10.5 MW	Announced December 2024
Florida Acquisition Size	8.6 MWs	Acquired October 2025
FY 2024 Total Revenue	$196.3 million	Actual Reported

The company's customer relationships often start with hosting on-site distributed generation and extend into the broader energy transition ecosystem, including EV Charging and Energy Storage solutions.

• Altus Power, Inc. is described as the largest owner of commercial-scale solar in the US.
• The company utilizes proprietary capture and management tools for asset performance tracking and analytics.
• The review of strategic alternatives in late 2024 was intended to maximize value for investors, partners, and customers.

Finance: draft 13-week cash view by Friday.

Altus Power, Inc. (AMPS) - Canvas Business Model: Cost Structure

You're looking at the major drains on Altus Power, Inc.'s cash flow, which is typical for a company focused on building and owning physical assets. The cost structure is heavily weighted toward initial investment and the ongoing servicing of that investment.

The High capital expenditure for asset acquisition and construction is the most significant driver. This is the cost of growing the asset base that generates future revenue. For instance, in the first half of fiscal year 2024, new PV investment, which includes both capital expenditure and acquisitions, totaled approximately $166 million, a notable decrease from the $373 million seen in the first half of fiscal year 2023. For the full fiscal year 2024, the estimated capital expenditure was slightly below $300 million.

The debt load required to fund this growth translates directly into interest costs. The long-term debt, net of unamortized debt issuance costs and the current portion, stood at approximately $1.18 billion as of the end of June 2024. This level of debt results in significant interest expense, with the reported Interest Expense for the full year 2024 being $69.21 million (millions USD).

The day-to-day running of the solar facilities generates the Operating and maintenance (O&M) costs for solar facilities. Looking at the Cost of Revenue, which includes these operational costs, the Total Cost of Revenue for the full year 2024 was reported at $46 million (millions USD).

Fixed overhead costs, while smaller than debt service, are still substantial. The Selling, General & Administrative (SG&A) expenses for the full year 2024 were reported as $47.77 million (millions USD). The company noted that corporate costs were expected to remain elevated throughout 2025 consistent with 2024 levels.

Finally, the accounting reality of owning these assets is the Depreciation expense on owned assets. For the full year 2024, the Depreciation & Amortization expense was reported as $68.92 million (millions USD).

Here's a quick look at the latest reported annual operating expenses for Altus Power, Inc. for the fiscal year ending December 31, 2024, in millions USD:

Cost Category	FY 2024 Amount (Millions USD)
Total Revenue	$196.27
Total Cost of Revenue (Proxy for O&M/Direct Costs)	$46.00
Selling, General & Admin Expense (SG&A)	$47.77
Depreciation & Amortization	$68.92
Interest Expense	$69.21

You can see how the non-cash charges (Depreciation) and financing costs (Interest Expense) together are larger than the direct operating costs of revenue for the year.

The key cost components are:

• High CAPEX/Acquisitions: Required for growth, with H1 2024 investment at $166 million.
• Interest Expense: Driven by $1.18 billion in long-term debt as of mid-2024.
• Depreciation: A major non-cash charge at $68.92 million in FY 2024.
• SG&A: Reported at $47.77 million for FY 2024.
• O&M (Cost of Revenue): Totaled $46 million in FY 2024.

Finance: draft 13-week cash view by Friday.

Altus Power, Inc. (AMPS) - Canvas Business Model: Revenue Streams

You're looking at how Altus Power, Inc. (AMPS) brings in money, which is all about long-term power contracts and energy credits. The foundation is predictable, contracted revenue, which is why the acquisition by TPG in April 2025 was so attractive to them.

Power Purchase Agreements (PPAs) revenue is the main driver. This is where Altus Power gets a set payment from businesses and commercial operations for the electricity generated by its solar systems. As of December 31, 2023, the long-term PPAs had a weighted-average remaining life of 11 years. This stream accounted for 35.81% of total revenue in the first half of fiscal year 2024 (H1 FY24). This segment showed strong growth, increasing 30% in H1 2024 compared to the same period in 2023, representing the largest company growth driver.

Net Metering Credit Administration (NMCA) revenue is the second major component. This involves Altus Power feeding electricity into the grid and then distributing net metering credits to community solar subscribers to lower their utility bills. This revenue stream represented 27.35% of total revenue in H1 FY24. The growth here was also significant, surging 26.5% in H1 2024 over the prior year period, largely due to adding more community solar subscribers. As of December 31, 2023, NMCAs had a weighted-average remaining life of 18 years.

The Sale of Solar Renewable Energy Certificates (SRECs) provides another layer of income. Altus Power applies for and receives SRECs for the power its solar energy systems generate in certain jurisdictions. This revenue stream made up 21.53% of total revenue in H1 FY24. This is defintely a more variable component compared to the fixed-rate PPAs.

Here's a quick look at how the revenue components stacked up historically against the 2025 expectation. The business model relies on these contracted streams to support the overall financial picture.

Revenue Component Context	Percentage of Total Revenue (H1 FY24)	YoY Growth (H1 2024 vs H1 2023)
Power Purchase Agreements (PPAs)	35.81%	30%
Net Metering Credit Administration (NMCA)	27.35%	26.5%
Sale of Solar Renewable Energy Certificates (SRECs)	21.53%	Data not specified in the same comparison

The total projected revenue for the 2025 fiscal year, based on consensus analyst forecasts, is set at $235.01 million. This is a projected 19.74% year-over-year growth from the 2024 reported revenue of $196.3 million.

You should note the scale of the customer base supporting these streams as of the end of 2023:

• Long-term PPAs with over 450 enterprise entities.
• Contracts with over 20,000 residential customers.
• Community solar projects servicing customers in 8 states.