Haezoom is a solar power startup that has achieved its crowdfunding goal of 40 million won (USD $36k) for its solar panel lease service in just three hours.
Haezoom currently operates an online platform used by over 400,000 users that lets anyone check how much they can save and benefit by installing solar panels through its calculator and sunlight map. In 2017, the company was selected as the supplier of solar power for the Korean Energy Agency for the third year in a row and has received a total of 5 billion won (USD 3.73m) to date.
The most recent crowdsourced funding will be used for the company’s 2018 solar power lease service for Seoul apartments. With solar panel leasing, there is no installment fee for family homes, but the costs for the supplier are quite hefty early on. By using the new funding, it means that the company will be able to save costs and install solar panels on even more buildings.
The project involves installing the panels on the roof of apartments to provide energy to the Korea Renewable Energy Center which is operated by the Korea Energy Agency. The Seoul Metropolitan Government provides subsidies to apartments in the city that are selected for the program and has established policies to reduce installation fees and increase environmentally-friendly energy.
“We are thankful to everyone for their interest and support in Haezoom,” says CEO Kwon O-hyeon. “Through this funding, we plan to lead the market share for solar power leasing in 2018 as well.”