Norway’s Otovo bags €40M to grow rent-to-own solar marketplace

Norway-headquartered Otovo has secured €40mn to expand its rent-to-buy online marketplace for solar panels, as it seeks to cash in on booming demand from homeowners looking to slash their energy bills. Otovo rents out solar panels and inverters at a fixed monthly cost, which includes all repairs and maintenance. The platform, currently available 13 European countries, uses satellite data and mapping information to calculate how much sunlight a section of your roof receives and the corresponding energy produced, as well as the size, shape, and specification of suitable rooftop solar products. Then it finds the best price and solar installer…

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