Dutch solar rental startup Solease raises €3 million from New York investment fund

solease

Solease‘s vision is to cover all the rooftops in the Netherlands – and eventually the world – with solar panels. But not everyone can afford to install their own solar panels on their roofs.

Instead, the Utrecht-based company leases solar panels to homeowners and businesses for a fixed monthly amount, which includes the costs of the purchase, installation, insurance and repair. This way, homeowners and businesses can immediately install solar power without any upfront investment – and at a price that is often more affordable than current electricity costs. Solease says that on average, its customers save two tons of CO2 per year – equivalent to 20,000 car kilometers or the annual absorption of 100 trees. The startup hopes to install an additional 150,000 solar panels in the next five years.

Founded in 2011, Solease just raised €3 million from the New York-based Arosa Capital Management. This comes just a few weeks after the company raised €2 million via crowdfunding. So far, Solease has raised a total of €17 million from investors, regional energy funds, and crowdfunders.

With the new investment, Solease plans to further expand its team and operational capacity to meet the rapidly growing demand from Dutch home owners and companies for rental solar panels – allowing everyone to participate in the transition to renewable energy.

Roderick van Wisselingh, co-founder and CFO of Solease, said:“Arosa brings a lot of experience in financing energy companies in America. This knowledge and experience is very valuable, because Solease aims to provide 150,000 solar panels for the next five years – thus investing €1 billion in the Dutch energy transition. For this we also need banks, pension funds, insurers and other large long-term investors. We need to think big, act quickly and work well together. In addition, we also see good opportunities to expand our offering with other sustainable solutions, such as heat pumps and home batteries, as well as to expand abroad. “

Till Bechtolsheimer, CEO of Arosa, said: “We have experience investing in residential solar energy suppliers in America, and see our investment in Solease as a natural extension of our belief that renting solar panels is attractive for homeowners. We are particularly excited about cooperating with its strong management team, and are confident that Solease can contribute to a fast-growing market in the Netherlands.”