Solar energy company forms partnership with E.ONJune 10, 2014
Companies team up to tackle the energy market in the Netherlands
Sungevity, a developer of solar energy systems, has announced its partnership with E.ON Benelux, one of the largest investor-owned utilities in the world. Together, the two companies aim to enter into the solar energy market of the Netherlands. The Dutch market has become quite active when it comes to solar power. The country is looking for ways to distance itself from fossil-fuels and become more environmentally friendly. Renewable energy has become an effective tool in these endeavors.
E.ON invests $70 million in Sungevity, showing favor for the company’s business model
The partnership between Sungevity and E.ON will initially focus on the Dutch market, but there are tentative plans to expand into the overarching solar market of Europe. The partnership follows a strategic investment made by E.ON. The company invested some $70 million in Sungevity, showing favor for the organization’s technology and business model. E.ON believes that Sungevity will find significant success in the Netherlands due to the country’s current energy market.
Energy prices are becoming a costly burden in the Netherlands
The Netherlands is home to the second highest energy prices in Europe. The country is keen to see energy become less expensive and its residents are also looking for ways to cut energy costs. While the government has begun to focus on the development of onshore and offshore wind energy projects, many homeowners are looking for ways they can adopt clean energy as well. Solar power may be the best solution, as solar energy systems can be installed at homes relatively easily.
Homeowners are quickly growing more accepting of solar energy due to its economic prospects and accessibility
Solar power is becoming quite attractive to homeowners throughout Europe because of its potential to significantly lower the cost of electricity. In some countries, home-based solar power systems may even be a source of modest income. Some countries allow homeowners to sell any excess electrical power generated by their solar energy systems to utilities. This electrical power is fed into the energy grid, where it can be used by others.