OSLO, NORWAY: Following the successful battery launches in Italy, Spain and Germany in 2021, and Sweden in February of this year, Otovo is now making home energy storage available to its customers in France and Poland.
“It is becoming increasingly evident that batteries are a hugely important value driver both for our customers and for Otovo. A homeowner who adds storage to their solar system can use the electricity that was generated during the day in the night hours as well. European energy independence depends on homeowners across the continent generating electricity in their homes, and storing excess production. Batteries will be ubiquitous in European homes, and with time a standard part of any PV system purchase. We are happy to see battery attachment rates rising across our markets,” says Otovo’s Chief Executive Officer, Andreas Thorsheim.
For Otovo, the ticket size roughly doubles when the sale includes a battery. For sales in the first quarter of 2022, battery attachment rates have been above two thirds in Germany and Italy, being the two strongest markets for batteries in Europe currently. In Spain, more than one in four sales include a battery. In Sweden, where we launched batteries in February, rates are somewhat lower. This quarter also saw our first standalone battery installations, where customers who had previously bought a PV system only, now purchased a battery.
Otovo currently offers batteries from the market leading brands Huawei, BYD, and LG in sizes ranging from 5kWh to 22kWh, and are looking to add more options for customers looking for retrofit (added to previously installed systems) or stand-alone (no solar panels attached) solutions.
Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.
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