Solease is a Utrecht-based startup that leases solar panels to homeowners and businesses for a fixed monthly fee covering purchase, installation, insurance, and repair. The model allows customers to install solar immediately without upfront investment and often at a lower cost than current electricity. The company says its customers save on average two tons of CO2 per year. Solease aims to install an additional 150,000 solar panels over the next five years and estimates this will involve roughly €1 billion of investment in the Dutch energy transition. It is also exploring expanding its offering with heat pumps, home batteries, and expansion abroad. Founded in 2011, Solease has raised €3 million from New York-based Arosa Capital Management and €2 million via crowdfunding, bringing total funding to €17 million. With the new capital the company plans to expand its team and operational capacity to meet growing domestic demand. Solease offers a lease model that lets homeowners get rooftop solar panels without a large upfront investment, handling installation, maintenance and warranty. Users pay a monthly fee (circa €50) that the company says can immediately be offset by savings (around €60 monthly). The €4 million investment will fund installations for 840 homes (500 in Overijssel, 180 in Limburg and 160 in the municipality of Utrecht). Solease was founded in 2011 and has partnerships including a prior collaboration with Nuon; it is connected to UtrechtInc and participated in ClimateKIC. CEO Pierre Vermeulen projects that, with accompanying bank financing, the program could expand to about 5,000 homes and save roughly 10,000 tons of CO2 annually. Homeowners can end their lease at any time or transfer the panels to new occupants when moving.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

Dec 2018