Ensol receives €3M funding boost to make household solar energy more accessible

Today Ensol, a Paris start-up specialising in photovoltaic equipment, has announced that it has raised €3 million from Otium Capital. 

Solar energy self-supply is becoming an attractive alternative to rising energy prices. Falling prices of photovoltaic equipment provide users with significant reductions in their power bills, giving them access to cheaper electricity and enabling them to sell any surplus.

Ensol provides custom-made photovoltaic installations quickly and at competitive prices along with personalised advice, helping households choose the best sizes and solar equipment according to their needs and getting the maximum return on investment.

By making it simpler to invest in solar installations, Ensol hopes to help accelerate the energy transition in France, currently the only country in Europe that is below the targets set by the European Union when it comes to decarbonising the energy mix.

Raising funds from Otium Capital will enable the start-up to make solar equipment more accessible by offering solar panels via leasing schemes and also making them more cost-effective, by integrating the entire production chain (batteries, charging stations and management app), and also more sustainable thanks to the set-up of a decentralised, low-carbon Virtual Electric Hub formed by each of the houses of the owner-partners.

“According to Paul de Preville, co-founder of Ensol:

This raising of funds is a milestone for both Ensol and the wider solar equipment market in France. 
The rise in electricity prices makes this a particularly profitable investment and sustainable.

Making it easier for the largest number of people to switch to them is certainly one of the most efficient ways of maintaining household purchasing power whilst accelerating the transition of the energy mix in France.”

Pierre-Edouard Stérin, Founder, Otium Capital shared: 

“In the face of environmental and societal issues heightened by the recent economic crisis, the renewable energy sector and in particular, photovoltaics is set to enjoy sustained growth.

We are proud to be supporting Ensol in its development, and how the company is positioned to take part in making photovoltaic equipment more widely available ties in with Otium’s commitment to the energy transition.”

Lead image: Ensol co-founders Paul de Preville and Martin D'Hoffschmidt. Photo: Uncredited.