Otovo announced that the next three markets to be launched are the Nherlands, Belgium and Switzerland. These threeee launches follow the successful market entries into Portugal, Austria and the UK this summer and will happen within 2022. The Netherlands will in 2022 probably be the largest residential solar market in Europe, and among the most mature globally.

The value of solar energy has been thoroughly proven here, and consumers are highly educated on the merits of solar power already. Belgium is also a mature market for residential solar, with more installations per year than more populous countries like France. Otovo will be among just a handful of players offering solar on a subscription model in Belgium, a significant competitive advantage.

Switzerland is a quickly growing solar market, with a favorable subsidy scheme, high electricity prices, and good solar conditions. Otovo expects large ticket sizes, strong battery attachment rates and high subscription shares in this market, all of which contribute to good unit economics.