Otovo acquires 5,000 residential solar customers from bankrupt competitor

Otovo has agreed with Energismart Norge AS, which acquired assets from the bankrupt Solcellespesialisten, to offer service solutions to approximately 5,000 former residential solar customers. Solcellespesialisten entered bankruptcy on December 9, 2025, leaving customers without warranty fulfillment or access to service.

Under the agreement, Otovo will offer these customers the opportunity to voluntarily transfer to its Otovo Care service solution. Priced at NOK 1,188 annually or NOK 140 monthly, Otovo Care includes remote monitoring, customer support, and discounts on repairs. Otovo will pay NOK 1,000 for each customer who subscribes to Otovo Care. Energismart Norge AS will now focus exclusively on the commercial market.

The transaction is expected to close in December 2025 and requires no regulatory approvals. Otovo anticipates the acquisition will be net income positive in the first half of 2026. This move addresses the growing issue of "orphaned" solar systems, with Otovo founder Andreas Thorsheim highlighting the multi-billion dollar service market opportunity. Many customers also lack batteries, presenting an opportunity for future upgrades.