The demand for green energy is soaring. Across Europe, homes are now being heated and powered by green, more sustainable energy sources and it’s something that is here to stay. Whilst we have all been aware of the benefits of green energy for quite some time, and there are many different options out there, getting access to it has remained a challenge for many and it’s still generally seen as a more expensive choice.
On a mission to democratise access to green energy, Berlin-based zolar has just landed a massive €100 million of fresh funding. The round was led by Energy Impact Partners and GIC as the company’s customer growth quadruples in 2022. Existing investors including Inven Capital, Heartcore Capital, Statkraft Ventures and Pirate Impact Capital also participated in the round.
Founded in 2016 by Alex Melzer and Gregor Loukidis, zolar is a digital platform for individual solar solutions tailored to the needs of modern homeowners for green energy. With a completely digital shopping experience, the greentech startup offers easy and digital access to photovoltaics. It removes the complexity of going green and democratises access to the energy sources of the future. It means that even more people can use renewable energy in their own homes – empowering us all to become part of the journey to net-zero and protect our planet.
Using greener energy sources is a key target for European nations as part of the fight to ensure our planet’s wellbeing for future generations. With zolar, Europeans can take some action into their own hands and contribute to fighting climate change.
Alex Melzer, CEO and Founder of zolar, said: “Our goal is to supply ten million households in Europe with either a solar system or renewable energy by 2030. The climate crisis, energy security issues and the rising cost of fossil fuels mean we must move very quickly. By offering a fully digital experience and making it as easy as possible to get started and use solar energy, we help people go green, become energy independent and save costs. There are 16 million roofs on single and two-family homes in Germany. More than 14 million of them are still without solar systems. Putting solar panels on these houses will drive Germany’s independence from coal, gas and oil.”
Zolar’s online configurator is unique for the industry and makes it as easy as possible for homeowners to buy customised solar solutions online or lease them for a small monthly fee. This enables people to green their energy supply around their house while saving money and supporting their country’s efforts to become independent from oil and gas.
With the investment, zolar will roll out new digital energy products. The company’s app will be expanded to include an energy management system and a dynamic electricity tariff. The app will intelligently control the solar power supply of homeowners while maximising their energy independence and cost savings. For example, it will be able to recognize the best time to charge an e-car and start the charging process automatically.
Enquiries to zolar have more than quadrupled this year following rising energy prices. To meet consumers’ unprecedented demand for solar energy, zolar will substantially expand its Craftship Partner Network of currently 500 local craft businesses to 3000 by 2025 to increase installation capacity for solar energy. The company will also open its own training centre this year to tackle the renewable sector’s skills gap and train workers in a qualified fast-track process for the energy turnaround.
Matthias Dill, Managing Partner Europe at Energy Impact Partners, said: “The demand for green energy will steeply accelerate in the world’s efforts to a net-zero future. Climate tech will drive the modern economy accelerating the transition to net-zero greenhouse gas emissions. Our investment in zolar is part of our mission to support startups worldwide that are resolutely driving the path to a sustainable future.”
Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said: “Our investment into zolar is a testament of GIC’s support of green innovation and the clean energy transition. During the coming decades, climate change will define investments speeding up the carbon transition. Zolar helps homeowners to significantly reduce their carbon emissions, which is vital to the global decarbonisation efforts.”