Singapore’s Solar AI Raises $1.5 Million to Fuel Regional Solar Expansion in SouthEast Asia

Singapore-based Solar AI Technologies has successfully secured a seed funding round of US$1.5 million, with Earth Venture Capital taking the lead, accompanied by participation from Undivided Ventures, Investible, and climate-tech angel investor David Pardo. 

The capital injection is set to predominantly fuel the expansion of its rent-to-own (RTO) solar initiative within Singapore, with subsequent plans for regional growth over the upcoming year.

The company is dedicated to advancing solar-as-a-service solutions. It has specifically allocated the funds to drive the expansion of its rent-to-own (RTO) solar program in Singapore. The startup aims to leverage this funding to prepare for an ambitious regional expansion strategy in the coming 12 months.

Solar AI Technologies, established in 2020 by Chew (CEO), Gérald Chablowski (CTO), and Luke Ong, aims to simplify the adoption of rooftop solar for smaller property owners who often face barriers to entry. 

The company’s core offering, the RTO solar program, is designed to facilitate hassle-free ownership of a solar panel system by eliminating the need for upfront costs. Customers can engage in this program with a straightforward monthly fee covering installation, maintenance, servicing, and a guarantee of energy generation.

Chew, along with co-founders Gérald Chablowski and Luke Ong, began the journey of Solar AI in 2020. Their vision was to demystify solar adoption for property owners. Through their rent-to-own model, they aimed to make acquiring solar technology as straightforward as possible. 

In contrast to the traditional model of solar adoption, which necessitates a substantial upfront investment ranging from US$15,000 to US$50,000, Solar AI’s RTO approach mitigates the risk associated with transitioning to renewable energy. This holds great relevance for Southeast Asia, where the adoption of solar energy stands at less than 1 percent. 

The escalating global energy crisis has pushed grid electricity prices in Southeast Asia to surge by nearly 30 percent. However, over 95 percent of rooftops in the region still need to be included in zero-upfront or leasing opportunities for solar technology. Such options could potentially yield over 200 megatons of carbon emission reductions annually. 

Solar AI’s approach helps homeowners avoid high solar panel installation costs. Instead, customers can opt for a fixed monthly fee, which typically ranges from S$275 to S$300 (equivalent to US$202 and US$221). 

Solar AI has successfully engaged with approximately 200 residential clients within Singapore, focusing primarily on those residing outside of public housing apartments. The startup’s efforts have yielded a portfolio of rooftop solar contracts with a cumulative value exceeding S$3 million (equivalent to US$2.2 million).

Solar AI plans to extend its reach to Malaysia and the Philippines within two years. Bolong Chew, the co-founder and CEO, perceives potential in regions with substantial electricity expenses. Yet, the costs of constructing and installing rooftop solar systems remain comparatively lower. 

While the Philippines currently lacks rent-to-own solar power companies, Solar AI anticipates entering a market already occupied by conventional solar firms. 

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