Rent a solar system, don't buy it - information: Attractive rental product without pre-financing from Otovo - information & top ten tips

🌍 Expansion and market leadership

Otovo represents the leading European platform for the distribution and installation of solar systems. Founded in January 2016 by Andreas Thorsheim in Oslo, Norway, the listed company reached the top position in the market for solar systems in private households in its first year of existence. Otovo now operates in 13 European countries: Norway, Sweden, France, Spain, Poland, Italy, Germany, Portugal, Great Britain, Belgium, the Netherlands, Austria and Switzerland. Since its inception, Otovo has installed more than 20,000 solar systems.

💡 Simplified access to solar energy

The goal of the Norwegian cleantech company is to simplify access to solar technology for private homes and thus advance the energy transition. The focus is on the innovative Otovo platform, which connects hundreds of local solar installers. Using sophisticated technology, the solar potential of every house can be quickly assessed online and a suitable system can be configured accordingly.

A cleantech company is a company that develops and offers products, services or processes that aim to minimize environmental impact and promote the efficient use of natural resources. These include technologies to reduce emissions, energy efficiency, renewable energy, water purification and sustainable materials. The goal of cleantech is often to promote sustainable economic development without endangering the environment and the earth's resources.

🌱 Solar subscription models and customer satisfaction

In 2020, Otovo set the course for the introduction of a subscription model for solar systems in private households in Europe. Initially there were doubts as to whether such a rental offer would be attractive to European consumers and whether the resulting portfolios would retain their value in the long term. Three years later, however, Thorsheim testifies that consumers appreciate the convenience of pre-financing and Otovo has completed thousands of housing projects across Europe.

📈 Look into the future with optimism

Thorsheim emphasizes his confidence in the market development: The costs for solar technology hardware are at an all-time low and installation costs are constantly falling, which creates increasingly favorable conditions for end users. He adds that, driven by planned funding programs from various European governments to encourage citizens to switch to solar energy, a significant increase in demand can be expected, particularly during the winter months, compared to recent quarters. Otovo feels well prepared to make the most of this development.

🏡💡 Economic and ecological advantages of the rental model

This rental model without pre-financing offers customers a low-threshold opportunity to become part of the energy transition without having to invest in the initial investment of their own photovoltaic system. Tenants of the solar systems benefit from the environmentally friendly supply of solar energy and can simultaneously reduce their electricity bills. In addition, Otovo not only takes care of the installation, but also maintenance and repairs during the rental period, which further adds to the attractiveness of the offer.

💼🛠️ Supporting local economies and creating jobs

In addition, Otovo's European presence supports local businesses, as the company primarily works with local installation companies. This creates jobs and supports the local economy.

🌿 Otovo as a pioneer in the field of renewable energies

Otovo recognizes that the future of energy lies in renewable resources and that solar energy is a key component in this transition. Given the growing public awareness of climate change and sustainability, the demand for green technologies is also growing. With its innovative business model, Otovo is at the forefront of the market, ready to respond to the growing demands of a more environmentally conscious consumer base.

✨ Otovo – A symbol of the energy future

Otovo – a rising star in solar that aims to accelerate the energy transition with a strong focus on customer convenience and renewable energy. With its rental model, Otovo offers a future-oriented, economically and ecologically sustainable alternative to traditional energy sources and supports households in switching to clean energy and reducing their ecological footprint.

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• 🌞 Developments in solar energy: subscription model
• 💡 Simplifying access to solar technology for homes
• 🏠 Installation of 20,000 solar systems in Europe
• 🌍 Otovo is driving the energy transition in Europe
• ⚡ simple and profitable solar energy for private homes
• 📈 Otovo: Becoming the leading provider of solar systems in Europe
• 🌱 Green technology and sustainability for private households
• 🧰 Solar platform: networking solar installers in Europe
• 🏢 Supporting the local economy by working with installation companies
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#️⃣ Hashtags: #Solar Energy #Energy Transition #Sustainability #Otovo #GreenTechnology

🔋💼 With the successful implementation of a capital increase of NOK 450 million (equivalent to around EUR 40 million), the leading European marketplace for solar and battery storage technology, Otovo, is strengthening its financial support. This cash injection on Thursday strengthens the company's commitment to continue progressing towards profitability and positioning itself as a leader in the European solar market.

🤝💵 The fresh funding comes from a group of loyal investors, including prominent names such as Å Energy, the Axel Johnson Group and Nysnø, the Norwegian government fund for climate investments. This expressed trust is reflected in the full accommodation of the capital increase to existing shareholders.

💼🎖️ The Axel Johnson Group, represented by its AxSol division and as a significant investor with a 44% stake, increases its stake with shares worth NOK 104 million. The state climate fund Nysnø is buying shares for NOK 29.4 million, while Obos is investing NOK 5 million. Nordic energy giant Å Energi is the largest contributor, with more than half of the fund, namely NOK 268 million.

⏰🔝 Andreas Thorsheim, CEO of Otovo, points to the great timing of the capital increase and emphasizes that the opportunity for growth in the energy market has never been better. Building new solar systems is currently attractive due to low costs, plus the general trend of rising energy prices, which is increasingly driving consumers to look for alternatives to reduce their spending.

💸✅ The additional financial scope from the net proceeds of the capital increase should flow primarily into growth projects. Otovo plans to continue to consolidate its market position in Europe and pursue sustainable ways to maximize profits. Profitability should be achieved through a smart strategy that includes revenue growth, operational cost reduction and consistent monetization of the subscription portfolio.

💼📊 Thanks to the strong support of its key shareholders and continued trust in the company, Otovo sees itself well positioned to increase revenue, wisely reduce costs and ultimately monetize its subscription portfolio. All of these measures are intended to help bring the company into the profit zone.

💰🔄 Beyond 2023, Otovo was able to generate a total of NOK 1,100 million (equivalent to EUR 100 million) in debt capital and NOK 700 million (approx. EUR 60 million) in equity in two different financing rounds. This significant sum suggests that the company has a strong financial base from which it wants to benefit in the long term.

🌞💪 Otovo is therefore in an excellent position to benefit from the growing awareness and demand for sustainable energy sources. With increasing interest in solar and storage solutions, the marketplace is positioning itself as a key player in a market that is not only of environmental but also economic importance. Against this background, more and more consumers and companies are switching to renewable energies in order to save costs in the long term and at the same time make a contribution to environmental protection.

⚙️🔋 The solar industry is currently experiencing dynamic development. Technological innovations and improvements in efficiency are leading to cost reductions in the manufacture and installation of solar systems, making them accessible to a wider range of buyers. In addition, support measures and financial incentives in many countries ensure that investments in solar energy are becoming increasingly attractive.

🚗🔋 Electromobility as a growth engine

🌱🚀 The advance of electromobility and the acceptance of battery-powered vehicles offers further opportunities for companies like Otovo. The trend towards using renewable energies for mobility opens up new potential for integrated energy solutions that make it possible to charge vehicles with self-generated solar power.

🌍🌟 With climate change and international efforts to reduce CO2 emissions, the solar industry is at the forefront of providing climate-friendly energy technologies. Companies that offer innovative solutions and at the same time contribute to a more sustainable energy supply assume social responsibility and therefore enjoy a higher level of public reputation and trust.

🌿📈 Vision and strategy for sustainable market leadership

💚🚀 For Otovo, the financing not only means an injection of capital, but also strengthens its image as a pioneer in the field of sustainable energy models. With the clear goal of becoming market leader, the company focuses on scaling, innovation and creating benefits for its customers, which should not only increase profitability but also reduce the ecological footprint.

📣🌐 Strategic focus and the future of energy

⚡🏆 The strategic focus on growth and sustainable profitability is a clear signal to the market and shows that Otovo is not only well positioned financially, but will also be able to take a leadership role in the energy transition. With a strong vision for the future and a robust financial structure behind it, Otovo has everything it needs to conquer the European solar market and have a lasting impact on the path to climate neutrality.

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• 🌱 Sustainable energy models: Otovo as a pioneer
• 🧑‍💼 Scaling, innovation and customer value in focus
• 🔋 Integration of renewable energies
• 🌎 Otovo and climate neutrality: leadership in the energy transition
• 🏢 Financing as a strong stimulus for sustainable growth

#️⃣ Hashtags: #Otovo #Energy Transition #Solar Energy #Sustainability #Financing

Solar panels are an increasingly popular way to harness renewable energy while reducing electricity bills. Although purchasing a solar system requires a large initial investment, there are alternatives such as renting that can lower financial hurdles. Here you will find top ten tips and information if you are interested in renting a solar system rather than buying it.

📜 1. Understanding the lease model

When renting a solar system, often known as solar leasing, you pay a fixed monthly amount to use the solar system on your roof. It is important to understand the contract model exactly, including the term, payment plan and conditions for possible takeover after the end of the contract.

💰 2. Cost comparison

Carefully compare the total cost of renting with that of buying. Consider funding opportunities, tax advantages, savings from self-generated electricity and any maintenance costs to make an informed decision.

⏳ 3. Contract term

The typical contract term for rented solar systems is often 20 to 25 years. Consider whether you want to make a long-term commitment and what conditions apply to early termination of the contract.

🔧 4. Maintenance and servicing

Clarify who is responsible for the maintenance and repair of the system. This is usually taken care of by the landlord, which is a big advantage over buying as you don't have to worry about repairs and performance yourself.

🛡️ 5. Insurance and liability

Make sure that the solar system is adequately insured and clarify who is liable in the event of damage. Insurance from the provider should be included in the rent.

🚚 6. Flexibility when moving

Find out how flexible the contract is if you need to move. Some lessors offer the option of transferring the contract to the new owners or moving the system to the new location.

📊 7. Performance guarantees

Make sure that your rental agreement includes a performance guarantee for the solar system. Such a guarantee ensures that your system delivers a certain minimum performance and thus also saves on the expected electricity costs.

🛒 8. Option to purchase

Some contracts offer the option to buy the solar system after a certain period of time. This can be interesting if the solar system is still in good condition at the end of the leasing period and you would then like to benefit from reduced electricity costs.

💡 9. Electricity tariff and feed-in tariff

Find out how leasing a solar system affects your electricity tariff and possible feed-in tariffs for solar power fed into the grid. This depends on local regulations and your electricity provider.

🏢 10. Reputation and reliability of the provider

Research the provider thoroughly. Choose a company with a good reputation, positive customer reviews and proven experience in the industry.

Renting solar systems gives you the opportunity to use environmentally friendly energy while saving costs, without the need for a large initial investment. However, always pay attention to the specific conditions of your rental agreement and check the seriousness and reliability of your provider so that you can benefit from your solar-powered power supply in the long term.

☀️🌿 Sustainability and cost efficiency through solar energy

If you choose to rent a solar system instead of buying it, you can start saving on electricity costs immediately while helping to be environmentally friendly. Please note that terms and conditions may vary depending on the provider and country. Find out about local conditions, funding programs and legal requirements that affect the use of solar systems.

💡🔍 Financial flexibility and environmental awareness

Renting solar systems can be particularly useful for those who do not want or cannot make a large initial investment, want to reduce their carbon footprint and benefit from lower electricity costs in the long term. By having the landlord take over maintenance and repairs, the risk of additional costs is also minimized.

📝👨‍⚖️ Renting a solar system: contractual clauses

Finally, it is important that you read all contractual clauses carefully, clarify all your questions before signing and, if necessary, seek legal advice. This is the only way you can ensure that renting a solar system is the best decision for your personal needs and circumstances.

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#️⃣ Hashtags: #solar system rental #energy saving #renewableenergy #sustainability #solarpower

With our user-friendly solar system planner you can plan your individual solar system online. Whether you need a solar system for your home, your business or for agricultural purposes, our planner offers you the opportunity to take your specific requirements into account and develop a tailor-made solution.

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The solar system planner for the most common applications: Plan the solar system online here - Image: Xpert.Digital

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