Sweden’s homeowners want to go green but often find the process too complicated and costly. Between rising electricity prices and the high upfront costs of solar panels, heat pumps, and battery systems, the idea of a self-sufficient home remains out of reach for many.
That is exactly what Elvy, a fast-growing Stockholm energy startup, aims to change. It lets homeowners get solar panels, heat pumps, batteries, installation, and ongoing maintenance under one fixed monthly plan.
The company has just received €500 million in financing from fintech partner Scayl and one of its banking partners to expand its subscription-based model, which makes adopting clean energy as simple as paying a monthly bill.
With the new financing, Elvy is preparing to roll out its integrated system nationwide and bring on 15,000 new customers next year.
Making sustainability seamless
Elvy was co-founded by Johan Outinen, who saw an opportunity to rethink how renewable energy could be delivered to ordinary people as a simple, predictable service.
Elvy’s AI energy orchestration platform manages how each household generates, stores, and uses power. The system automatically adjusts based on consumption patterns, weather conditions, and grid demand, ensuring maximum efficiency without requiring the homeowner to lift a finger.
Unlike Otovo, Svea Solar, and Vattenfall’s home energy division, Elvy’s proposition is end-to-end, from hardware to ongoing optimisation. It delivers a fully managed energy ecosystem that evolves with each customer’s home and lifestyle. This combination of intelligent automation and subscription-based finance provides immediate value to customers.
What’s next?
The company is expanding its footprint across Sweden and preparing to enter Denmark, Finland, and northern Germany in 2026. As part of that trajectory, its team is developing new features for AI grid balancing, enabling connected Elvy homes to stabilise local energy networks during peak-demand periods.
“Elvy’s approach to home energy immediately stood out to us. Solar financing has existed for decades, but Elvy has created something fundamentally different: a product where customers see a net-positive economic effect from day one, rather than waiting years to break even. We’re excited to help scale this model in Sweden,” commented Medjit Yalmaz, CEO and Co-Founder of Scayl.
