Otovo claims customers "could make savings on day one." Image: Otovo
Otovo claims customers “could make savings on day one.” Image: Otovo.

Norwegian-based solar marketplace Otovo is set to “democratise access to solar” through a new solar subscription product being introduced to the UK.

The new offering enables UK homeowners to get access to installed solar systems without the sometimes prohibitive upfront costs.

Despite a surge in UK solar installations over the past year – industry standards authority MCS reported over 180,000 domestic solar installations in 2023 – residential solar uptake remains significantly lower than in other European countries. Only 6% of UK homes have adopted the technology, in stark contrast to countries like the Netherlands (25%) and Belgium (22%).

This is despite VAT exemption and tumbling hardware and installation costs, but Otovo claims an additional major obstacle has been the lack of accessible financing options for British consumers. Otovo’s subscription model mirrors its current European household offering and aims to address that inequity. Customers can benefit from domestic solar without the upfront cost and, according to Otovo, “could make savings from day one”.

Otovo is an intermediary between hardware installers and customers, using “proprietary technology” to unite customers with “the best possible prices, designs, and quality of installations”. The subscription model includes a warranty on hardware and workmanship for the duration of the deal (up to 20 years for panels and 10 years for batteries).

Financing models like subscriptions and leasing are proven to accelerate solar adoption, particularly among those who aren’t top earners. This pattern has been seen in the US, where similar models have driven growth in recent years.

This article first appeared on Solar Power Portal’s sister publication Current±.