With a lot of cash, Enpal wants to cement its market leadership in the business with solar systems. Meanwhile, the competition accuses the startup of improper marketing.
Shortly before the end of the year, the Berlin solar system specialist Enpal covered itself with fresh capital. As the company announced, donors to funds, banks and investors pledged a total of 855 million euros. The majority of these are borrowed capital, i.e. interest-bearing loans.
Enpal plans to invest the money in more than 30,000 new solar systems, energy storage systems and charging stations. The startup first has to buy these itself before it installs the systems for customers.
Enpal expects sales in the billions
Enpal sees itself as a pioneer in the sale of privately used solar systems in this country. The startup, founded in 2017, relies on a rental model: Customers pay a monthly fee for the system and electricity, which means there are no high acquisition costs. After 20 years, customers can take over the solar system for a symbolic euro. Some systems are designed to last up to 40 years.
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According to reports, business is booming. He expects sales of between 300 and 400 million euros this year, said Enpal founder Mario Kohle recently manager magazine. Next year the company wants to reach the billion mark. “We will never be profitable once more,” said Kohle, referring to profit and cash flow.
Competition accuses Enpal of unclean marketing promises
High energy prices and a greater climate awareness among many people are driving business. Enpal tries to counteract the lack of technicians who take care of the installation of the systems on site with its own training center. The startup also trains career changers there. The competition is big. In addition to Enpal, companies such as Zolar or 1 Komma 5° specializes in the sale of solar systems, energy storage and charging stations for e-cars. The latter companies offer – unlike Enpal – the solar systems (also) for sale.
A dispute has broken out in the industry over the question of whether customers should rent or buy a solar system. 1Komma5° founder Philipp Schröder, for example, recently accused his competitor of improper marketing methods. The rental model is not worthwhile for the customers at all, said Schröder to the mirror. The costs following 20 years are “at least twice” as high as the direct purchase of the systems. Enpal boss Kohle countered that the rental model was certainly cheaper as long as you took into account the contributions for insurance, maintenance and spare parts.
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