Southampton Science Park Resident, Absolar Solutions is building on extensive academic research and emerging artificial intelligence (AI) and geographic information system mapping (GIS) technologies to help organisations evaluate the feasibility of solar power more accurately, and to access finance where appropriate. This new approach will help both public and private customers plan their pathway to net zero status with confidence, while benefiting from cost-effective electricity generation.
What was previously done by teams of surveyors over extensive time periods, can now be done instantly, at scale and on demand via Absolar’s web-based portal, thus saving customers considerable time and money. This will be of particular benefit to public sector organisations and companies with extensive building footprints.
Taking the service one step further, Absolar has partnered with finance providers to assist companies in rolling out their optimum solution. In this scenario, Absolar’s accurate scenario planning can reduce customers’ finance costs.
Green energy is a cornerstone of public policy, with the UK committed to achieving net zero status by 2050. Covering 60% of all south-facing commercial roofs with solar panels is expected to meet the energy needed for UK businesses and achieve average savings of £30,000/year according to the Energy Saving Trust. Such a rollout also has the potential to create 200,000 green jobs by 2030. Currently, a lack of access to accurate information and high finance costs are impeding progress.
Absolar joined Southampton Science Park’s Catalyst business accelerator programme in the autumn.
Founder Phil Wu commented: “Customer interest in our work has been strong so we need to create a robust deployment plan and pricing structure to enable us to swiftly convert existing interest into sales. To gain a place on Southampton Science Park’s Catalyst programme, therefore, was absolutely fantastic. On joining in the Autumn, we had developed working prototypes and established a core team with a shared passion to deliver green energy interventions at scale, but we needed to refine our business plan and establish a strong go-to-market strategy. We are benefitting from the wealth of expertise and guidance that the mentors are providing to our newly formed team, helping to propel us into a sustainable venture that delivers serious impact in the solar industry.”
Read more about this and other Catalyst alumni companies who have innovated their business ideas here.
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