Solar-as-a-service startup enpal helps homeowners adopt green energy with minimal effort and risk. Their process includes a thorough property assessment that optimizes energy savings.
Reiki may help the autonomic nervous system (which controls basic functions like heartbeat and breathing) shift from a sympathetic (“fight or flight”) to parasympathetic (“rest-and-digest”) state.
1. Reduced energy bills
Founded in 2017, Enpal rents out solar energy systems, including energy storage and electric vehicle (EV) chargers, to private homeowners on a subscription basis. This democratises access to renewable energy and makes it easier for customers to achieve a climate-neutral home.
In 2022, Enpal surpassed 30k customers, exceeded 400 million euros in revenues and finished the year profitably. The new Series D financing will enable the German renewable energy unicorn to grow even further and expand into other European markets, while focusing on making the transition to 100% renewable energy as simple and as affordable for all.
ING will provide a EUR 215m senior loan and a EUR 70 million subordinated debt facility at holding company level. The transaction is subject to customary closing conditions.
2. Energy independence
In times of soaring energy prices and the climate crisis, more and more people want to take control of their own energy. That’s why Germany’s first renewable energy unicorn, enpal, rents solar systems, battery storage units and charging stations to private homeowners.
With a focus on customer experience, enpal provides an all-in-one solution that includes installation and care. The company also has in-house digital processes that speed up the process of connecting systems to the grid and monitoring their performance.
The new financing round is led by TPG Rise Climate with participation from existing investors, including Westly Group and Activate Capital as well as investment banks and the founders of Delivery Hero. Global law firm White & Case advised on the transaction.
3. Easier maintenance
enpal offers a solar-as-a-service solution, allowing homeowners to reap the benefits of solar energy without having to pay any upfront costs. The company covers all installation and maintenance costs through a long-term contract, typically spanning 20 years.
The company carries out a comprehensive assessment of each home, ensuring that the solar system is optimally designed for maximum energy production and efficiency. Their digital platform also gives homeowners the freedom to actively monitor their energy usage, further promoting energy efficiency.
This commitment to high-quality service has earned enpal positive reviews and feedback from their growing customer base. Their success has led to geographic expansion, enabling them to make an impact on the global shift towards sustainable energy solutions. The company is committed to making renewable energy accessible to all, with solar panels on every roof, a battery in every house, and an electric car charging station in front of every door.
4. No upfront costs
With its solar-as-a-service model, enpal allows homeowners to generate and consume clean energy without upfront investments. The monthly fee is offset by savings from reduced electricity bills, resulting in significant long-term financial gains for customers.
In Germany, enpal has around 30k subscribers and installs 2,000 solar systems per month. The Berlin-based start-up makes solar energy accessible for everybody by renting out photovoltaics, energy storage and EV chargers to private homeowners.
This new financing round increases Enpal’s refinancing commitment to more than EUR1.4 billion and will help drive solar adoption. ING acted as Senior Agent and Account Bank for both facilities. ING’s transaction team included lawyers from Greenberg Traurig and legal experts from Simmons & Simmons.
5. Personalized support
Personalized support is an effective strategy to engage customers on a deeper level, fostering long-term customer loyalty. Businesses use customer data to personalize customer service interactions by matching them to a specific representative who understands the needs and preferences of each individual customer.
Enpal’s strong focus on customer satisfaction enables them to provide homeowners with tailored support and guidance throughout their solar journey. Dedicated energy consultants are available to answer any questions and guide homeowners from the start of the process all the way through system commissioning and onwards. Taking a proactive approach to customer support is a sure-fire way to stand out from competitors and improve your bottom line.