Swedish energy company Elvy
has secured a €500 million financing package from Scayl and a banking partner
to fund home energy packages offered through a monthly subscription model. The
packages include solar panels, heat pumps, and home battery systems, and are
designed to remove the need for large upfront investments.
Elvy is providing
integrated home energy solutions, combining smart technology with installation
services and customer support to help households reduce energy costs and
emissions as it expands across Sweden. Under the subscription, homeowners
receive equipment, installation, maintenance, and coverage for the home’s
electricity needs at a fixed monthly cost. The system is managed by Elvy’s AI
engine, which monitors and optimises household energy generation and
consumption.
Elvy’s CEO and co-founder,
Johan Outinen, says the focus is not primarily on the technology itself, but on
delivering peace of mind to homeowners:
Our customers want
heating, warm water, and reasonable electricity costs. It shouldn’t require big
investments or that they become energy experts in their free time to optimise
energy consumption.
As electricity prices
remain volatile across Europe, more homeowners are looking for solutions that
offer cost predictability alongside environmental benefits. Elvy’s model is
intended to help households reduce dependence on the grid, lower long-term energy
expenses, and improve home sustainability and potential property value, while
lowering barriers to adopting modern energy systems.
Supported by the €500
million financing, the company expects to make these systems available to tens
of thousands of households and increase its capacity to onboard up to 15,000
new customers.