Otovo Makes Solar Energy a Natural Choice
The Norwegian company Otovo has been a leading player in solar energy for Norwegian homes since 2016 and has also found success in the broader European market. With the assistance of Nordic Innovators, Otovo AS obtained approval for a SkatteFUNN application to carry out the Otovo PVB-PaaS project. This initiative introduces new solutions to make it easier and more affordable to choose solar energy.
Increasing demand for solar energy
The European Commission aims for 40% of all energy to be renewable by 2030 as part of the goal for a climate-neutral Europe by 2050. Renewable electricity, which increased by 15% in 2020, needs to triple to achieve the EU's climate targets, and the installation of solar panels in private homes is crucial in working towards this goal.
R&D solutions for photovoltaic cells and battery optimisation
The challenge lies in the fact that current solar cells require expensive batteries, and energy storage is not optimal. Less sunny areas, such as Northern Europe and the Nordic region, therefore need new solutions for solar energy to become a natural choice for individuals.
Currently, energy is often produced when households are empty on sunny days, and insufficient energy is generated on cold, sunless days when demand for power is highest. It is essential for the system to consider the needs of each household. Energy storage also often requires costly and large batteries that are challenging to install. Through this project, Otovo's engineers, software developers, and technical advisors aim to develop solutions to these challenges by 2024, researching, developing, and integrating photovoltaic cells and battery PaaS (platform-as-a-service) into the system.
A step towards a sustainable energy industry
Support from SkatteFUNN has contributed to foundational work in the research and development phase of improvements in solar cell systems. Obtaining the funds to carry out the project is not only a victory for Otovo but also a step forward in the energy industry, opening opportunities for the implementation of solar energy as a natural choice both in and outside of Europe.
