In a bid to be the one residential solar service provider to rule them all, Otovo announced it will acquire EnergyAid, a main residential solar repair provider in California, Arizona and Nevada, for $10 million.
EnergyAid
EnergyAid has been the solar service brand of note recently, handling abandoned solar systems after major residential installers have gone out of business. EnergyAid has taken on orphaned systems from Suntuity, Titan Solar Power, Sunworks and Solcius. The company offers service subscription plans focused on diagnostics, repair, maintenance and system upgrades. Approximately 2,800 customers have signed up for the subscription service.
“This acquisition will represent a major milestone in Otovo’s U.S. expansion, adding immediate scale across three high-growth solar markets while adding substantial value from EnergyAid’s extensive customer relationships,” said John Berger, CEO of Otovo. “EnergyAid’s established operations provide immediate scale across California, Arizona and Nevada, while their extensive customer database creates substantial long-term value.”
“EnergyAid has always been about solving problems for solar homeowners who had nowhere else to turn,” said Nick Sherman, CEO and founder of EnergyAid. “Otovo embodies that customer-first mentality and they’ve built the technology infrastructure to deliver it at massive scale. Together, we’re creating the category leader in residential solar service, a company that can serve customers with the same quality and responsiveness.”
EnergyAid will be integrated into Otovo’s service business. Combined with Otovo other recent acquisitions, this transaction should position Otovo as the leading pure-play residential solar service company in California and establishes a strong foundation for growth in Arizona and Nevada. Otovo will work to convert EnergyAid’s extensive customer base to its subscription service.
Otovo established itself in the United States just three months ago, and was founded by the former CEO of now-bankrupt Sunnova. The company’s Endurance platform leverages AI to diagnose system issues and dispatch qualified technicians in real time. This intelligent network coordinates field crews, service vehicles and home energy systems to deliver rapid solutions. Real-time customer tracking ensures transparency throughout the service process, while smart routing technology maximizes first-visit resolution rates and minimizes technician travel time.
News item from Otovo
