I co-founded Otovo in 2016 in Oslo, where the company is headquartered, with the overarching mission to democratise access to power and eradicate fuel poverty – and we have fast become the market leader in Europe in providing homeowners with affordable solar solutions. We provide consumers with the easiest way to get solar panels on a residential roof. We work with a pan-European network of local, high-quality energy installers meaning that we are boosting business in local areas wherever we are working.
All vendors are thoroughly vetted prior to being listed on the marketplace. At Otovo, we use proprietary technology – including satellites to evaluate consumers’ roofs – to provide an immediate tailored offer to customers, making the purchase of solar panels as simple as buying a pair of shoes online. Then we connect them with vetted installers and provide project management, making the process of adopting solar at home as smooth and seamless as possible.
At present, Otovo is active in 13 European markets including Norway, France, Spain, Poland, Italy, and Germany, installing an average of around 9,000 solar panels per year.
How did you come up with the idea for the company?
My solar journey was actually sparked by a visit to the Tesla factory in California as the guest of Peter Carlsson – who went on to found Swedish battery maker Northvolt – which then prompted me to expand my knowledge of green energy and sustainability solutions being offered to consumers.
As a result, I then went on to co-found Otovo in 2016 with the overarching mission of democratising access to power and eradicating fuel poverty. As a result of our intuitive approach to solar and the way we work with customers, we have fast become one of Europe’s leading marketplaces for residential solar installations, cutting the cost of solar for consumers while reducing bills and carbon footprints.
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How has the company evolved over the last couple of years?
Otovo has grown and evolved a lot since we launched in 2016. We have installed tens of thousands of solar units across Scandinavia and the rest of Europe, saving people millions on energy bills while reducing their carbon footprint. In the third quarter of last year, we fitted over 1,900 solar systems, which we estimate will save as much as €100 million on energy bills over the 30-year lifetime of the solar system.
We also offer batteries as part of our solar systems. This is because the benefits of batteries are immense, allowing consumers to harvest sunlight during daylight hours, which is then stored and deployed by the battery at night. As a solution, this brings our customers that much closer to achieving net zero than ever before.
What can we hope to see from Otovo in the future?
Our goal is now and always has been to help as many people as possible, through solar, to reduce their reliance on limited fossil fuels, reduce their carbon footprints and, in turn, reduce their bills amid soaring energy costs. We want to help everyone transition to a cleaner energy future through solar. Since launching in Norway, we are now active in 13 markets. However, our future plans are in no way limited to regions or specific countries.