What do you know about the German-based solar company Enpal? There are a lot of things about the company that aren’t what you might call typical. For one thing, they haven't really been doing business all that long, yet their popularity is absolutely skyrocketing. Obviously, they have managed to find a much-needed niche by providing solar power to homes at a time when this type of energy is becoming more important than ever. If you're curious, here are 20 more things about them that you might want to know.
1. They help you figure out how much you can save in advance
The company is geared toward helping people save as much money as possible. As opposed to simply telling you that you can save money and then forcing you to go through some type of complicated process in order to find out that you're really not saving that much to begin with, they help you know exactly how much money you can save on your energy costs upfront. It's all designed to make customers want to switch to solar energy as opposed to sticking with traditional energy companies. It's beneficial to both homeowners and the planet, something that the company is quick to point out.
2. They provide maintenance on their product for 20 years
In addition, they provide their own maintenance for all of the solar panels for a period of 20 years from the date of installation. That can be a huge benefit, because it means that you are not forced to deal with issues that might arise from maintenance needs if something should go wrong. It also means that you don't have to worry about solar panels that are damaged because of the weather, leaving you to pay for expensive repairs out of your own pocket. The company handles everything from start to finish and that's something that is very rare these days.
3. They also provide insurance for the products they sell
In addition to providing maintenance, they also insure their product. Imagine the potential benefits associated with this type of program. If your solar panels are severely damaged or even destroyed for some reason, you can rest in the knowledge that they are insured and will be replaced by the company. You don't have to worry about filing a separate insurance claim with your own company and then finding someone to make expensive repairs. If your system was destroyed by a storm or some other type of physical damage, you know that you can have a new system installed as opposed to being forced to switch back to traditional energy.
4. They’ve finished 10,000 solar energy projects
To date, the company has finished installing an astonishing 10,000 solar energy projects. That's 10,000 different homes that now have clean energy because of their efforts and their efforts alone. That's a huge benefit to the homeowners themselves, but also to the planet. The company's hope is that eventually, they will be able to install enough systems that it will make a major impact in helping to combat global warming.
5. They recruited people that have a solid background in the business
They've recruited people that have been involved in solar energy since 2008. That means that their management team has a wealth of knowledge that allows them to fully understand the technology and how it is advancing at a rapid pace. It wasn't that long ago that this type of technology was so expensive that it was virtually exclusive only to the individuals who had the largest incomes. Today, the technology has advanced to a point where it is so commonplace that it can be achieved easily, with virtually no cost associated with it whatsoever.
6. Their goal is to empower homeowners
Obviously, the company's goal is to empower homeowners. Anyone who has ever felt held hostage by expensive energy bills knows what it's like to swelter through a hot summer because you're afraid to turn the air conditioner on. By the same token, a lot of people know what it's like to practically freeze during the winter because turning the heater on and allowing the house to be comfortable is prohibitively expensive. By empowering homeowners through the use of solar technology, all of these worries can become a thing of the past.
7. They help people save money and protect the planet
By installing their solar systems, they are helping people save money each and every month. More importantly, they're also doing their part to protect the planet. Their hope is that they will be able to get the word out to enough individuals so that more homeowners will become receptive to this type of technology. If they can install enough systems, they can go a long way toward protecting the planet, all while saving tens of thousands of individuals a load of cash on their energy bills.
8. They’re on a mission to educate homeowners about solar energy
Unfortunately, not all homeowners are receptive to using this type of energy, largely because they don't fully understand how convenient and effective it really is. As such, the company is on a mission to help people understand that they can still enjoy all of the same creature comforts and amenities with solar energy that they enjoy through traditional power companies. There's nothing complicated or time-consuming about it. It's really about saving them a lot of money and helping them rest in the knowledge that they're doing something to help the planet at the same time, all without giving up any of the things that they have become accustomed to enjoying. In fact, people have an opportunity to enjoy more things because with solar energy, it's possible to turn the air conditioner on or utilize the heater during the winter so that the house can be comfortable as opposed to being miserable year round for the sake of saving a few dollars.
9. They install solar energy systems free of charge
Another thing that makes the company unique is that they install their solar systems free of charge. That's right, they don't charge you a fee for the installation. In fact, you can figure out how much money you could potentially save by switching to their program, by going on their website and spending about one minute. From there, you can start talking to someone about beginning the installation process and in no time, you can have solar panels installed in your home without spending a single dime out of your own pocket for upfront costs.
10. It’s all because of a rent-based system
How do they manage to install a system in your home without charging you? It's all because they rent the panels to you for a period of 20 years. You pay a fixed price based on the number of panels needed to successfully power your home. You'll pay the same price every month, no matter how much energy you actually need to generate. In almost every case, it's significantly less than you would expect to pay with a traditional energy company. Once the 20 years is up, you own the system outright.
11. They just received $174 million in third-round funding
$174 million is a lot of money, but that's precisely how much they raised in there Series C round of fundraising, which was just recently completed. One of the reasons that they have been able to successfully raise so much money is because a lot of investors are beginning to see how important this type of technology really is. Energy costs from traditional energy companies are rising exponentially, with little hope of them ever returning to anything that most people would even remotely consider affordable. By the same token, the climate crisis is growing on a daily basis. It's become clear that something has to be done that is radically different, or global warming will continue to increase, all while more and more families are forced to go without the comfort of effective climate control because they simply can't afford it anymore.
12. They make extensive use of AI technology
They're different from other solar energy companies that have come before them, mainly because they make extensive use of AI technology in order to determine how many panels they need to use for each potential customer's home. It's all done using computer technology, meaning that they don't have to employ technicians to physically travel to potential customers' homes in order to create an estimate. It can all be done in just a couple of minutes on their website. In fact, technicians won't visit the house until it's time for the installation. This means that they can operate with less overhead, which also means that they're able to pass some of those savings on to their clients.
13. They’re a popular option in their native Germany
Because they are different and because they offer something that people genuinely need, they become very popular in their native country of Germany. Based in Berlin, they have installed solar panel systems in more than 10,000 different homes, as previously mentioned. They're also working to constantly educate the public about the benefits of solar energy and get the word out about their services.
14. They also intend to expand to new markets
With this latest round of funding, they intend to expand into new markets. Eventually, they plan to offer their solar panels to customers in other countries. While it's a lofty goal, they hope that they will one day be able to offer these types of programs to people all over the world, either directly or through a series of partnerships that are strategically placed in different geographic locations.
15. They provide an avenue for customers to switch to solar energy
The truth is, they provide an avenue for customers to switch to solar energy when other companies don't. Because they will install solar panels in customers’ homes without requiring them to pay any money up front, it dramatically changes the possibilities for homeowners. Those who might not otherwise be able to afford to switch to solar panels now have that option available to them and that can make all the difference in the world.
16. They’re hiring more people all the time
For the longest time, they only had about 250 employees. However, that number has recently doubled to slightly more than 500. Furthermore, they are actively hiring. This speaks volumes about their outstanding success and the fact that they're growing every single day.
17. They’ve raised more than $700 million in funding
When companies are capable of doing something meaningful, investors have a tendency to take notice. That is precisely what has happened here. As such, the company has raised slightly more than $704 million in funding to date. Compared to other solar panel companies, that amount is staggering and it speaks to the belief of investors that they are capable of succeeding where others have failed.
18. Their services are all-inclusive
Sometimes, it's worth a lot to work with a company that provides everything from start to finish, leaving nothing to chance. That is exactly what they do. From the moment your solar panels are installed, you don't have to worry about anything. The company takes care of all of it. You can even keep track of all the energy that you're generating through the use of an app available on your phone. It's actually less complicated than using traditional energy.
19. They’ve only been around for a few years
The company only went into business in 2017. Four years later, it seems like they've been in business a lot longer because they have figured out the major issues that other companies still seem to be struggling with. That's one reason so many people have decided to work with them as opposed to their competition.
20. They studies failed solar panel companies before beginning business
The managerial team for the company studied failed solar panel companies before they ever even thought about opening their doors. They wanted to succeed, but had seen countless others try and fail. As such, they identified certain issues and addressed them upfront. Many investors credit their current success to this approach.
Written by Allen Lee
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