Ensol Raises €3 million To Make Solar Energy Accessible

A Paris-based start-up specialising in photovoltaic equipment, Ensol will use the capital to develop new distribution methods

To capitalise on an ideal environment for the development of solar energy self-supply, Ensol, a Paris-based start-up specialising in photovoltaic equipment, has announced that it has raised €3 million in funds from Otium Capital. This fresh injection of capital will enable the company to develop new distribution methods and to integrate the entire solar production chain.

A significant rise in electricity prices has occurred since late 2021, culminating in a 15% spike in February 2023. Although a price cap has been introduced by the authorities, another rise is expected in 2024, which will only be made worse by the end of the cap in 2025 and by the energy transition that is currently underway. In this environment, solar energy self-supply is becoming an attractive alternative. Falling prices of photovoltaic equipment provides users with significant reductions in their power bills, giving them access to cheaper electricity and enabling them to sell any surplus.

Solar energy self-supply therefore is not merely a way of taking a stand and showing a commitment to sustainability, it is also a very profitable investment that Ensol is making accessible to all. By providing custom-made photovoltaic installations quickly and at competitive prices along with personalized advice, Ensol is allowing all consumers to cover their investment as fast as possible. Founded in 2013, Ensol’s turnkey solution and support gives households access to expertise when it comes to choosing sizes and solar equipment that is adapted to their needs, and getting the maximum return on investment.

Driven by the belief that making solar installations more widely available is an integral part of the energy transition, Ensol’s founders Paul de Préville (co-founder of YouShould) and Martin d’Hoffschmidt (co-founder of Formativ) are looking to simplify this type of investment by providing innovative purchasing possibilities. 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.

Paul de Preville, Co-founder of Ensol, said, “The rise in electricity prices makes this a particularly profitable as well as sustainable investment. 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 of Otium Capital, added, “In the face of environmental and societal issues that are being heightened by the recent economic crisis, the renewable energy sector and in particular, the 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.”