Since Russia’s 2022 invasion of Ukraine, solar energy has gained momentum in Europe. Electricity prices have soared, while the cost of rooftop solar installations has plummeted, thanks to new subsidies, improved technology, and innovative European startups streamlining the process.
Samara: Leading the Solar Charge in Spain
Samara, a Spanish company founded just two years ago, is at the forefront of this energy transition. They recently secured a €9 million ($9.8 million) Series A funding round to fuel their expansion.
“We’ve already helped over 1,700 families switch to solar and other energy transition products,” says Samara co-founder Manel Pujol. “Since our launch in June 2022, we’ve grown into what we believe is Spain’s fastest-growing energy transition company.”
Optimizing the Installation Process
Samara’s success stems from their focus on simplifying solar installations. Their website offers potential customers a quick, preliminary quote and an estimate of potential savings, a powerful incentive considering Spain’s abundant sunshine allows users to slash their grid electricity consumption by up to 70%.
Following this initial contact, Samara gathers more details to create a personalized installation proposal using their proprietary tool. If the customer proceeds, Samara handles everything – permits, procurement, and project management – with their in-house team of experts.
Hybrid Installation Strategy for Maximum Reach
Samara employs a hybrid approach for the physical installation, combining their own team of installers with third-party partners. This strategy provides valuable feedback to enhance the customer experience while expanding Samara’s reach across 75% of Spain.
The company’s installer marketplace is a key advantage in a fragmented market with over 1,000 small solar installation companies. Samara can offer these smaller players access to a wider client base, boosting their revenue while providing customers with a comprehensive service.
Beyond Solar: Batteries and EV Chargers
Samara goes beyond solar installations, also offering home batteries and electric vehicle (EV) chargers. With solar panels already in place, these additions further reduce electricity bills and take advantage of free solar power.
While Samara has seen a 20% attachment rate for these products, there’s significant room for growth. Pujol notes that Spain lags behind countries like Germany, the UK, and Italy in battery and EV charger adoption.
Untapped Potential in a Growing Market
With only 1,700 households served out of 6 million in Spain, Samara has barely scratched the surface of its potential to revolutionize household energy in its home market.
The company’s success mirrors similar startups in Europe, such as Germany’s Zolar and France’s Effy, indicating a growing investor appetite for energy transition solutions. Samara’s Series A round, led by Green Generation Fund and Move Energy, brings their total funding to €15.5 million ($16.9 million) since 2022.