John Berger, former CEO of Sunnova, has launched a new startup called Otovo, focusing on maintenance services for solar, battery, and generator systems, after Sunnova's bankruptcy. Otovo has quickly gained 30,000 customers, primarily in Europe, and aims to expand its subscriber base in the U.S. while planning for a public listing by the end of the year.
Otovo's rapid growth in securing 30,000 customers for solar maintenance subscriptions highlights a key opportunity in the solar market: servicing existing installations can be a lucrative business model, particularly as new panel installations face rising costs. This approach is especially strategic in regions experiencing policy volatility or economic pressures, such as the U.S., where the long-term viability of solar subsidies is uncertain. As Otovo plans for a dual listing on a U.S. stock exchange, there may be an investment opportunity for those focused on solar infrastructure and maintenance services.