Otovo launches solar service, secures 3,000 initial customers

Otovo has launched OTOVO CARE, a new service product, securing 3,000 initial customers across Germany, Norway, Spain, and Sweden. This offering provides remote monitoring, diagnostics, accelerated response times, and discounted service work on solar components, generating €350,000 in annual recurring revenue. Most customers opted for 12-month upfront payments, averaging €115 annual revenue per user. The product is priced at €9 per month for annual commitments and €12 for monthly billing.

The service targets homeowners with expired warranties, former Zolar customers, and the general public, including those with installations from competing companies. Otovo aims to address the industry's historical under-delivery in long-term system maintenance, complementing its existing OTOVO LEASING product. The company reports an average direct customer acquisition cost of €56 for these initial customers.

Otovo views the European service market as a €1 billion annual opportunity, with over 15m homes having solar panels and a third of original installers no longer operational. The company plans to grow its service product by targeting new and existing Otovo customers, its installer corps' customers, and "orphan" system owners, aligning with its Otovo USA service offering.