Solytic is a Berlin-based, cleantech start-up company that is developing a digital platform to maximize lifecycle performance when it comes to solar panel installation.
If you’re new to the solar world, this could sound a little confusing but not to worry, we’re here to break it down and tell you about this incredible company. Pioneer Spotlight is all about spotlighting companies who are pioneers in their field – like Solytic!
This company is built on the following principles:
- Innovators – Solytic is constantly pushing boundaries and making use of the latest technology to challenge the norm.
- Passionate – This company understands that this is the only planet we have; therefore, they are dedicated to fighting climate change.
- Customer-driven – Solytic focuses on listening and understanding customer needs.
- Responsibility – The environments, employees, network, investors (EWE, Vattenfall and SpeedUp Venture Capital Group), and customers – this is the cornerstone of what Solytic cares about, and it always works to give back where possible.
What Does Solytic Do?
Essentially, Solytic is driving the energy transition in terms of smart monitoring with the use of solar installation. The company’s software aims to improve performance, lower costs, drive profits, and extend the lifecycle of all its investments while combating climate change.
Solar installations must be structured to perform as efficiently as possible because photovoltaics (PV) is a major technology in the energy revolution. However, this is not always the case: if a stone chips a panel, the damage may not even be evident to the user. How will they be aware that there is a problem? What effect does dirt have on performance? Is a tree creating a shadow on an installation, limiting the amount of solar radiation it gets and the amount of energy it produces? Can we do anything further to make the PV system more profitable?
Consider the terms “finance,” ‘battery,” and “insurance.” There is just one solution to these questions: smart monitoring.
This is where Solytic comes in: Its software collects data, monitors installations, and generates insights that it can use to make decisions. Solytic figures out why things aren’t working without them having to be physically damaged. If an installation isn’t doing as well as it should, the solution looks at data not only from the installation itself but also from its surroundings (the environment). After that, smart monitoring is used to assess it.
Moreover, this AI (artificial intelligence) platform helps stakeholders to detect issues and opportunities and to turn these observations into smart, data-driven decisions. How does it do this? With over 200 data points, it has from and around solar installations. Additionally, Solytic offers third-party services to help get performance back on track.
In today’s world, humans have to manually do monitoring, analytics, and managing assets. This is tedious and leaves room for error. Solytic aims to use AI to automate processes in order to reduce costs and maximise production at every stage of life regarding assets. By automating these processes, Solytic can achieve a more profitable and faster energy transition.
What Is the Vision and Mission of Solytic?
Solytic has a very clear vision, which is “One central platform for a decentralised ecosystem.”
Great, but what does this mean? Solytic is all about creating a sustainable, green future. It aims to achieve this with solar power being the number one source of energy production. This means that it will use suitable fields and buildings to take care of the increasing energy demand across the globe, which equals a large rollout of solar installations internationally.
Solytic sees itself as the world’s largest platform regarding decentralised solar installations, which connects millions of assets to organisations that offer products and services.
It seems that Solytic will be able to reach its goal as it successfully passed its milestone of connecting over 100,000 solar installation systems and launched its marketplace after closing a Series A with EWE and Vattenfall in 2019. Today, Solytic has almost 200,000 assets under management.
One thing is for sure; there is still plenty of room for growth when it comes to Solytic.
Why Was Solytic Founded?
What could drive one to start such an intense company? From 2009 to 2013, Germany installed over 1 million solar installations during the first solar boom. These were advertised as “no-brainers” and “maintenance-free,” which unfortunately wasn’t the case. As time passed, it became clear that more and more owners were experiencing performance problems.
This was when the founders of Solytic found a gap in the market. Many players in the market were focusing on pre-installation services, such as sales and design software, and scaling installations using fast-growing installers. Not Solytic though; the founders identified a need in the post-installation space. It was simply an opportunity waiting to be taken.
There are currently around 30 million solar installations globally. This number has to increase to 1 billion units in order to reach net-zero. Fortunately, the brains behind Solytic saw this in 2017 and started the company – to build the world’s largest go-to platform with regards to maximising the performance of an asset from day one to the last day of its lifecycle.
Recent funding round from EWE AG
We’re really proud to announce the recent funding round for Solytic with $2,000,000 funded in the middle of March from Ewe capital. The recent funding round will be used to propel the business to the next level where they are looking to increase demand from 200,000 solar installations, to over 600,000. Product development and analytics capabilities are on the list too as well as integrations into more 3rd party providers on their marketplace, to offer more solutions to their customer’s individuals needs.
Where Does Solytic See the GreenTech Market and Smart Grids in Five Years?
The world is constantly changing and full of uncertainty, especially with the current situation in Russia. This only emphasises the need for clean and renewable energy. Fortunately, solar power isn’t only a source of renewable energy; it’s also a sign of independence for people. Imagine not having to rely on the government to make sure you have constant power?
However, let’s not get ahead of ourselves; with over 2.3 billion households worldwide, there is still a lot of work to be done, and this is Solytic’s top priority!
Looking for a solution for your solar installation? Get in touch with Solytic directly