Pan-European residential solar marketplace, Otovo, has launched in the UK, promising to grant UK customers an online toolbox to switch to solar, and save 49% on their energy bills.
Launched in 2016, the Oslo-headquartered company provides a platform for UK customers to receive personalised insights on what benefits they can obtain from installing rooftop solar.
Once a potential customer has entered their address, the platform uses a range of data (including satellite) to calculate the amount of sunlight a section of their roof receives and the corresponding energy produced, as well as suggesting the size, shape, and specification of suitable rooftop solar products.
With this data, Otovo will use proprietary technology to calculate the lowest price available for the project from local Microgeneration Certification Scheme (MCS) approved solar installers.
Earlier this month, MCS reported the highest annual increase of certified contractors in 2022 at 780 – more than double the net increase from 2020 to 2021. 67% of these contractors were certified for electricity generating technologies, demonstrating the growing demand for domestic solar in the UK.
Otovo also offers broker loans provided by Humm Group, which could reduce the need for an expensive upfront payment.
As a case study, Otovo reported that a typical ten panel installation for a home in Surrey would cost £160 a month over three years to finance a £5,000 installation. The panels could then generate 4000kWh/year at current electricity rates of £0.34/kWh, which would save the customer from 49% off their electricity bill, paying off their solar panels in less than ten years.
The company anticipates that in the near future UK households will be able to join it’s other markets and lease Otovo solar panels over 20 years, which is said to have proved “immensely successful” in Portuguese, German and Spanish markets.
“Once you decide you want to save money and the planet by going for solar, it can be daunting getting up to speed on solar technology, solar hardware requirements, and solar installers. Otovo offers consumers an easy, trustworthy way to get a solar system installed.,” said UK general manager at Otovo, Jina Kwon.
“Using our tried and tested technology, UK households can get an instant quote and be connected with the best vetted, trusted installers in the UK. This year, Otovo will make leasing available in the UK, making cheap, sustainable, energy accessible to many more households. Otovo is also a safe bet for installers and industry professionals – we help them secure hardware as well as make their lives easier by handing them sold jobs where we handle the time consuming admin work and customer management.”
To help limit energy curtailment from the solar panels, Otovo also offers batteries with their solar systems, allowing customers to store solar energy from the day to use at night. According to Otovo 85% of its current sales include batteries.
In it’s the Value of Building Solar report, Solar Energy UK, stated that combining a solar system with a battery in a mid-terrace home could generate savings of around £40,000 over their lifetime.
Solar Power Portal's publisher Solar Media will host the UK Solar Summit on 27-28 June 2023 in London. The event will explore UK’s new landscape for utility and rooftop solar, looking at the opportunities within a GW+ annual market, and much more. For more information, go to the website.