Samara accelerates the energy transition in Spain panel by solar panel

Since the impact of the Russian invasion of Ukraine in 2022, solar energy has had a moment in Europe. Electricity prices have increased while the investment required to install rooftop solar panels has decreased. This is due to new grants, better technology, and several European startups that are working to streamline the installation process.

One of the startups driving the energy transition of European homes in southern Europe is Samara, a Spanish company that has just raised a Series A financing round of 9 million euros ($9.8 million at the current exchange rate). just two years after its founding.

“We have now supported more than 1,700 families in their transition to solar energy and other energy transition products,” Samara co-founder Manel Pujol told TechCrunch. “Since our launch in June 2022, we have grown to become what we believe is the fastest growing energy transition company in Spain.”

The startup has spent most of its energy optimizing the installation process. When potential customers go to Samara’s website, they can enter basic information to get a preliminary quote and an estimate of how much they could save with a solar installation.

This seems to be a good starting point, as customers can save up to 70% on their electricity consumption from the grid; After all, Spain is one of the European countries with the most hours of sunshine.

After that, Samara follows up to gather more information and create a custom installation proposal using the company’s proprietary quote generator. If the client wants to move forward, Samara handles permitting, procurement and project management. The company has its own teams of project managers and electrical engineers.

When it comes time to start installing the solar panels and inverter, the company has chosen a hybrid strategy with an internal team of installers and some external partners.

He says this approach has two advantages. First, having an in-house installation team has improved the overall product, as this team can provide feedback and help improve the customer journey. Secondly, the creation of an installer market greatly increases Samara’s reach. The company currently operates in 75% of the Spanish territory.

The Samara market also provides a competitive advantage, as there are more than 1,000 small businesses working on solar installations. These small players can’t really offer an end-to-end service. At the same time, Samara can increase its revenue with its own customer base.

Iván Cabezuela and Manel Pujol, founders of Samara.
Image credits: Samara

In addition to solar installations, Samara offers home batteries and electric vehicle chargers. Once you have solar panels on your roof, it makes sense to add a battery to reduce your electricity bill even further. Likewise, since you don’t pay for electricity consumption, an electric vehicle charger is the next logical step.

On this front, Samara still has room for growth. “We currently see a rate of incorporation of these products into our solar projects of around 20% and an important opportunity to continue developing these products in Spain, which is still far behind Germany, the United Kingdom or Italy in battery adoption. and electric vehicle chargers,” Pujol said. .

Similarly, while 1,700 households contacted Samara for a solar project, in Spain there are around six million households in total. So at one level, the startup has barely scratched the surface of the potential to transform domestic energy supply in its local market.

In Germany, a similar startup, Zolar, has raised more than $170 million since its inception in 2016. While in France, energy renovation company Effy closed a $22 million funding round last year after 15 years of startup because energy renovation has become a fashionable market. for investors.

Samara’s Series A round was led by Green Generation Fund and Move Energy. Ring Capital, Athletico Ventures and existing investors Seaya and Pelion Green Future also participated. In total, the startup has raised 15.5 million euros since 2022 ($16.9 million).

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