Investing in the future: Unlocking scalable opportunities in the ClimateTech sector

Ian Thomas, Managing Director of Turquoise International

The growing demand for green home energy solutions presents a compelling investment opportunity for investors looking to break into the ClimateTech sector. Ian Thomas, managing director, Turquoise International, explains.

Opportunities for UK investors in green home energy solutions are expanding rapidly, driven by both market demand and government policy. The UK is home to some of the world’s most expensive properties to heat and power. However, until recently, there has been no simple, affordable solution to finance green energy upgrades that can save homeowners money while benefiting the environment.

Turquoise International, the UK merchant bank specialising in climate technology in which I am a managing director, has invested in MakeMyHouseGreen (part of Switchd Ltd) via the Low Carbon Innovation Fund 2 (LCIF2). MakeMyHouseGreen.com is a data-driven platform that offers homeowners accurate, impartial advice on solar panels, heat pumps, and energy-saving products, making the transition to renewable energy easier and more transparent.

We’ll explore below how MakeMyHouseGreen’s innovative partnerships with businesses and local councils are helping scale renewable energy adoption across the UK’s housing stock, while outlining the opportunities for investors looking to tap into the climate tech sector.

Solar confidence

Despite the energy price cap being lowered, almost half (49%) of UK homeowners are considering solar panel investment, with 9 in 10 motivated by the prospect of further reducing energy bills. According to a survey of 2,000 UK homeowners by roof system manufacturer Marley, energy costs are the primary driver. However, finding a trustworthy installer in a somewhat confusing marketplace is a stumbling block for many.

MakeMyHouseGreen offers a market-leading solar calculator that allows homeowners to determine how many solar panels their roof can accommodate and provides precise estimates of installation costs and savings on their energy bills, tailored specifically to their home. The platform leverages advanced technology to ensure a seamless and high-quality installation experience, enabling homeowners to assess their roof’s solar capacity, obtain installation prices, and be confident throughout the installation process. It also allows users to monitor the performance of their solar panels over time.

Ian Thomas

The MakeMyHouseGreen business also offers a B2B service tailored to suit both the private and public sector. “Alongside working with small businesses, such as farms and golf clubs, we also partner with businesses like Santander and Nationwide. These partnerships see us help customers with solar installations, provide partnership decks and create dedicated landing pages,” explains co-founder Llewellyn Kinch.

The business recently announced a partnership with Cotswold District Council to deliver solar installations to local residents. Named ‘Cotswold Home Solar’, the project will also help the council achieve its ambitious climate targets. After declaring a climate emergency in July 2019, the council published commitments to achieve an 80% reduction against a 1990 baseline emissions rate by 2030 and a 100% reduction by 2045, with no reliance on offsetting or carbon credits trading. A discount for solar panel installation is provided to tenants through the brand’s partnership with Cotswold District Council.

“Once we get the green light, we manage everything for our partners. Our approach is an easy sell for our partner brands because what we offer benefits their customers, creating a win-win partnership,” Kinch continues. “Finding someone reliable to do the job is key. Our partners understand the importance of working with a trusted installer, particularly as the industry continues to grow.”

Deal drivers

What else drives partners to agree to a partnership deal? They must be willing to try new things and have these initiatives on their agenda, says Kinch. “Councils have net-zero targets but often lack the funding and time to achieve them.  Our framework enables them to help residents go green at no cost to the council, handling all communications, newsletters and direct mail campaigns. Banks are keen to help mortgage customers improve their Energy Performance Certificate (EPC) ratings, getting ahead of regulations to increase property value.”

Industry backing

The urgent need to decarbonise residential housing creates a strong need for the type of services that MakeMyHouseGreen offers. We are pleased to have invested in the company alongside existing shareholders, such as Nationwide Building Society and Inspired Energy, and new investors through Crowdcube and elsewhere. The investment has allowed Switchd Ltd to roll out its MakeMyHouseGreen product to a much larger customer base. The business plans to scale up volumes and increase the number of households going green through partnerships, enhancing the post-installation side, with products that monitor system output based on local sunlight data. 

Platforms like MakeMyHouseGreen are making it easier for homeowners to adopt renewable energy, tapping into both consumer and B2B markets for potential growth. The intersection of both consumer and B2B demand presents a compelling case for investment in this rapidly evolving sector.

For more information about MakeMyHouseGreen, please visit https://www.makemyhousegreen.com/. Or to learn more about Turquoise, visit https://turquoise.eu/.

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