Sunvigo is a German energy provider revolutionizing the use of solar power for homeowners. Founded in 2020, the company offers a solar power contract that includes the installation and maintenance of a residential photovoltaic (PV) system on the customer's rooftop. Customers only pay for the electricity consumed, without incurring costs for the PV system components. Sunvigo's business model eliminates the complexity and high upfront costs associated with traditional solar system purchases or leases.
The company's smart solar-as-a-service solution maximizes the value of residential solar power systems by integrating them into a virtual power plant. This virtual power plant optimizes onsite solar power consumption and markets excess solar electricity within the Sunvigo community or to the power market. Sunvigo also offers battery storage, electric vehicle charging solutions, and a green grid power plan as part of its energy offerings.
Since its inception, Sunvigo has experienced rapid growth, increasing its customer base tenfold in 2021. By the end of 2023, the company had expanded its team to 130 employees and secured EUR 19.5 million in funding from investors such as Future Energy Ventures, Triodos Energy Transition Europe Fund, Eneco Ventures, Sparta Capital, High-Tech Gründerfonds, and Übermorgen Ventures. The raised capital will be used to scale Sunvigo's solar-as-a-service proposition and further develop its virtual power plant.
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