Europe is praised as a leader in global renewable energy usage, however, it still derives 76% of its energy mix from fossil fuels. Household energy consumption is a major contributor at 27% of total energy consumption, the majority of which is derived from fossil fuels. Currently, installation and legal procedures for residential PV systems are complex and expensive.
Sunhero offers high-quality photovoltaic (PV) installations, making autonomous energy accessible to millions of households, starting with Spain. The company also plans to expand its product portfolio to include electric vehicle (EV) chargers and other electrification solutions, providing a comprehensive suite of sustainable options for households.
Energy capture PV technology and its storage is the single best solution for residents to autonomously generate energy. Storage is an essential component of this, as renewable energy is often not reliable during peak periods of high energy usage. Sunhero is working on this by enabling end users to independently store and access their excess energy to consistently charge their electric vehicles and power their homes.
Seizing the opportunity
The potential of PV technology for residential properties is not a new concept, but SunHero has reimagined the PV value chain to make it easy for residential customers to put solar panels on their roofs, reduce their carbon footprint and save on electricity bills. In Spain, solar PV uptake among homeowners has historically lagged behind other EU markets. Due to recent policy changes, Spain’s residential solar industry has seen high double-digit growth, creating significant opportunities for SunHero to accelerate solar adoption in the region – and beyond. The European residential solar PV panels market size is expected to reach USD 62.33 billion by 2030.
Sunhero’s founders have a stellar track record of successfully scaling major companies and mastering internationalization (AirBnB, Zalando, Audibene, Course Hero). The co-founders both have prior founder experience managing large teams and gaining the leadership expertise necessary to grow top-tier businesses. We are convinced that this strong metric-driven team has what it takes to become a first-class provider of residential solar power.
By removing barriers to a faster deployment of solar rooftop installations, Sunhero will accelerate the energy transition. Scientific literature assessing the benefits of adding solar PV by evaluating the GHG intensity of hourly marginal electricity supply in Spain reveals that an additional PV system displaces fossil energy supply (coal and natural gas) and hydropower. Each system installed within the next ten years by Sunhero (Solar PV and Solar PV + battery storage) saves between 13.1 and 5.5 t CO2e over its lifetime. Rolling out autonomous storage and EV charging functionalities could lead to significant increases in these numbers.