Otovo

Otovo is a platform founded in 2016 in Oslo offering a European marketplace for residential solar panel installation, connecting homeowners to a network of certified installers and simplifying a process traditionally complex and fragmented for end consumers. The model has progressively expanded with ancillary services such as battery storage, EV chargers, and generators. 2025-2026 marked Otovo's aggressive entry into the U.S. market: in September 2025 the company launched Otovo USA, led by former Sunnova CEO John Berger, with over $4 million in initial funding led by EIC Rose Rock, aiming to build an AI-driven home energy "power partner" for American homeowners. This kicked off an unprecedented acquisition-led growth strategy: seven deals completed since December 2025, including Los Angeles-based Solar Service Professionals, EnergyAid — a leading solar maintenance provider in California, Arizona, and Nevada, acquired for $10 million with roughly 2,800 subscription members — and, completed on July 2, 2026, SunSystem Technology, a U.S. leader in solar operations and maintenance services with roughly $14 million in 2025 revenue and operations across 14 states. With the SunSystem Technology acquisition, Otovo achieved effectively coast-to-coast U.S. market coverage, aiming to convert the acquired customer base to its subscription model — an initiative the company expects to be accretive to net income as early as 2026. Otovo's positioning reflects a broader trend in residential solar: after years of growth driven purely by new installation sales, the market is shifting toward recurring maintenance and service revenue, a higher-margin, less cyclical segment than one-off panel sales.