Millions of German households are on the receiving end of price increases from their electricity and gas providers. “Otovo is the easiest way for homeowners to get solar panels and storage systems, and thus lower their own electricity bills”, says Christian Rahn, General Manager of Otovo in Germany. “By installing a solar system, a household saves up to 35,000 euros in 20 years as a result of a reduced electricity bill and selling surplus electricity back to the grid.” Rahn expects more than 1,000 new customers in 2022 in Germany – the goal is to achieve a revenue of more than 100 million euros by 2025.
Almost 500 local solar and battery installer companies are connected to the Otovo platform across Europe. The company uses its proprietary technology to analyze the potential of any home online, without a home visit, and finds the best price and installer for customers based on an automatic bidding process between available installers. Customers receive a set offer from the optimal and most favourable local installer company in just a few clicks.
Otovo is the only independent residential solar provider active throughout Europe. More than 500 installer companies have been working with Otovo for several years. Currently, the Euronext Growth-listed company has helped over 11,000 households in Europe transition to domestic solar power and is geared towards gaining at least 10,000 additional customers per year in the coming year. Otovo installations create CO2 emissions reductions of 222,000 tonnes per year, and the company objective is to quadruple this by 2025.
