Startup News

Start-Up Chile grad, Solcor, puts solar panels on La Moneda

Chile’s presidential palace, La Moneda, took a huge ecological step forward last November. El Mercurio reports that the government hired Solcor, a solar energy company that arrived in Chile through Start-Up Chile in 2015, to install panels on the rooftop that will provide up to 18% of the energy needed to run the palace.

Solcor is changing the business model of selling solar panels. Instead of expecting clients to invest in custom panels, Solcor designs, installs, and maintains the panels, and in return, clients buy energy from Solcor below market price. The installation on La Moneda, a historic building, was complex; in order to maintain the building’s aesthetic, every part of the panels had to be black, even the screws.

The Belgian company, which had already been operating successfully in Belgium, The Netherlands, and the United States before Start-Up Chile, now has more than 50 clients in Chile, including several vineyards. Solcor has received US$5M in investment since they have been in Chile.

By law, Chile must source at least 20% of its energy from renewable sources by 2025. Solcor is quickly helping them reach their goal.

Read more about solar energy in Chile:

The Santiago Times coverage

The Wall Street Journal coverage

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