Solease secures €2M crowdfunding: 5 things to know about Utrecht-based startup

Solease secures €2M crowdfunding: 5 things to know about Utrecht-based startup

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As energy will be one of the most expensive resources in the coming years, the demand for solar panels is growing. However, installation of solar panels do come with a cost, and not all homeowners can afford it. This is where Solease, a Dutch solar startup comes into the play.

Founded in 2011 by Pierre Vermeulen and Roderick van Wisselingh, Solease leases solar panels to anyone with a private rooftop for a monthly fee, which is relatively lower than the electricity bill. The Utrecht-based startup intends to accelerate the energy transition by renting solar panels to customers.

In a recent development, Solease secured instant funding of €2 million through the crowdfunding platform DuurzaamInvesteren.nl. Given that it has secured instant funds from the latest crowdfunding round, here are interesting things to know about this Dutch startup.

#1 Secures €2 million in six hours

This is the fourth project of Solease on the crowdfunding platform. During the recent funding round, the first million was secured in just 8 minutes, and the startup took only 6 hours to raise €2 million. The company aims to use this funding to rent solar panels to 450 homes. Back in 2017, the startup raised €1 million in 7 hours. In June this year, it raised €1 million in as soon as 30 minutes.

#2 Focuses on renting and not selling

At Solease, they believe that a sustainable economy can be achieved only by renting out the products and services and not selling them. The startup rents the panels at relatively lesser pricing than the electricity bills thereby letting users save their energy expenses.

#3 Growing impact

Solease claims that it has provided 1000 households with solar panels generating 3.5 million kWh of renewable energy per year. Eventually, the startup helps in saving over 2 million kg of carbon dioxide per year, which is said to be the annual intake of nearly 100 trees. Moreover, the impact is consistently growing with new customers taking the effort to save their energy bills. The company touts that over half a million Dutch households rely on solar energy.

#4 Prerequisites for solar panel rental

The company rents solar panels to anyone with a private rooftop. However, there are some prerequisites. Customers should place a roof check request for the team to contact them and receive a quote along with the design for the most effective placement of the solar panels. The expected energy saving and the rental fee will also be provided. Upon agreeing to the quote, the solar panels will be installed.

#5 Provides an all-round service

Solease provides solar panel rental with a fixed monthly fee. Notably, this fee covers the cost of financing, insurance and repair after purchase and installation. Eventually, it makes customers get guaranteed renewable energy right on their rooftop for a lesser cost.

Regarding its funding rounds, co-founder Roderick van Wisselingh said, “It remains exciting to see that private investors have so much interest in sustainable projects with an attractive interest rate. Through this investment round, we can help more people to participate in the energy transition. Solar Energy Dutch Dutch before”.

Talking about the future plans, Pierre Vermeulen, CEO and founder of Solease said, “For more than have moved half a million Dutch households on solar energy. That’s a drop in the ocean anymore, that’s impact. Much impact! However, we must also be realistic: Over 6 million residential roofs are flat. This calls for action. We are orientating to also offer other sustainable alternatives in the future, such as heat pumps.”

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