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In a remarkable display of the viability of a bill-free energy market, Octopus Energy, two years since its inception in Spain, reveals that more than 75% of its self-consumption clientele have experienced zero-euro bills, propelled by the innovative technology underpinning the Solar Wallet. The company announces a staggering allocation of over 3.6 million euros in compensation for solar surpluses, coinciding with the one-year anniversary of its groundbreaking virtual wallet launch.
Roberto Giner, CEO of Octopus Energy Spain, asserts, “We have issued over 110,000 invoices at zero euros, a testament to Octopus Energy’s commitment to advancing renewable energy adoption and fostering long-term savings for households.”
Amidst a downward trend in the surplus market, Octopus Energy pioneers alternatives such as Octopus Zero, integrating solar panels, batteries, and energy management solutions. Giner emphasizes the pressing need to promote physical battery installations, addressing a critical aspect of solar self-consumption in Spain.
Despite a recessionary phase in the sector, Octopus Energy reports surpassing its 2023 solar self-consumption installation figures within the first quarter of this year. Simultaneously, the company explores introducing smart solutions to the Spanish market, empowering individuals to reduce reliance on the grid and transition to sustainable living.
Drawing inspiration from successful models in the UK and Germany, where over 1,000 families reside in energy-efficient homes sans bills, Octopus Energy eyes the integration of state-of-the-art renewable energy technologies, facilitated by its Kraken platform.
“In combating climate change, households play a pivotal role. Construction in Spain still contributes to over 25% of carbon dioxide emissions,” underscores Roberto Giner. “Accelerating home decarbonization is imperative, considering the growing desire for sustainable living and investments in energy efficiency measures.”
With a clientele exceeding 130,000, Octopus Energy stands as a beacon of clean energy provision across Spain, with over 15% of clients recommending the company to peers, marking a significant milestone in the energy sector’s evolution. |
