The Quest for Energy-Efficient Homes: European Startups Take the Lead
Houses in Europe are notorious for being hard to heat, largely due to their age. Most were built during an era when knowledge about energy consumption was limited compared to today’s standards. With energy costs rising and geopolitical tensions intensifying, tech startups have proliferated to tackle this issue.
The Challenge Ahead
Consumers need a simple way to engage with the problem of how much energy their home needs, manage it effectively, and finance necessary changes. This requires a straightforward approach to help homeowners understand and address their energy consumption.
Enter: A Pioneering Solution
In New York, Sealed is a climate tech company that designs, manages, and finances home weatherization and electrification projects. Recently, they acquired sensor startup InfiSense to fuel their energy-saving services.
Similarly, in Germany, ‘Enter’ (formerly Baupal) has emerged as a prominent player in the market. This startup has raised a €19.4 million Series A financing round led by Target Global, with additional investments from VC firms Coatue, Foundamental, A/O Proptech, and Partech.
The Process
Homeowners complete a digital survey, which is followed by an assessment of their building’s energy status. The platform then provides suggestions on how to reduce outgoings and handles the appropriate subsidy applications for renovations.
Justus Menten, co-founder and managing director of Enter, emphasizes the importance of speed: "Today’s certified energy efficiency consultants cannot achieve [climate goals] in the traditional way." He adds that training new advisors is already underway, but it will take several years before sufficient capacities are available. This is where Enter steps in.
Addressing Affordability Concerns
Enter claims that 75% of homeowners worry they can’t afford energy-efficient renovations. To address this concern, the platform offers its services as part of the package.
A Strong Support Network
In addition to VCs, Enter has business angels and advisers, including Oliver Merkel, McMakler co-founders Hanno Heintzenberg and Lukas Pieczonka, taxfix COO Dr. Daniel Kreter, Medwing founder Johannes Roggendorf, and DST Global co-founder Tom Stafford.
Max Schroeren’s Insights
Over a call, Max Schroeren, co-founder and managing director of Enter, shared their approach: "We end up with 250 data points, but we only have to ask eight to nine questions. This gives us 90% accuracy about the real energy-saving potential of the house." The platform then conducts a site visit with its own energy consultants to verify data and provide personalized recommendations.
The Future of Energy-Efficient Homes
As European startups like Enter continue to innovate, they are paving the way for a more sustainable future. By addressing affordability concerns and providing accessible solutions, these companies are empowering homeowners to take control of their energy consumption.
Key Takeaways:
- European homes are struggling with energy efficiency due to their age.
- Tech startups like Sealed and Enter are addressing this issue by providing innovative solutions.
- Homeowners need a straightforward approach to manage their energy consumption effectively.
- Enter’s platform addresses affordability concerns by offering its services as part of the package.
- The company has a strong support network, including business angels and advisers from prominent firms.
Conclusion
The quest for energy-efficient homes is an ongoing challenge in Europe. However, with startups like Sealed and Enter leading the way, there is hope for a more sustainable future. By providing accessible solutions and addressing affordability concerns, these companies are empowering homeowners to take control of their energy consumption.