Commercial PV system provider with in-house electrical engineering capabilities – Average EBITDA: 580 T€ (2023–2025)

The company covers the entire value chain of commercial PV projects: design and planning, direct procurement from manufacturers (A-grade materials), installation, AC and electrical installation, commissioning, certification and utility provider coordination, as well as service and maintenance.

The focus is on turnkey systems ranging from approximately 30 to 1,000 kWp; large-scale projects exceeding 1 MW are carried out with long-standing, trusted subcontractors under the company’s own construction management. In addition, the company offers battery storage, charging infrastructure, and maintenance for both its own and third-party-built systems. Projects are carried out on a contract basis with a payment schedule.

The company serves exclusively business customers (B2B). Since its founding, it has served over 600 customers. Its client base includes transmission and distribution system operators, manufacturers of large-scale power plant and substation equipment, energy suppliers, and infrastructure operators, as well as nationwide retail chains and distributors of commercial vehicles and agricultural machinery.

Several key clients have placed repeat orders over a period of several years. In the project business, the main clients change from year to year; over a multi-year period, there is no structural dependence on individual clients. Sales rely on in-house business development, an outsourced sales management team, existing clients, and referrals.

The German photovoltaic market has reached a high level with approximately 117 GW of installed capacity (as of the end of 2025); new installations totaled approximately 16.4 GW in 2025. Following the record years of 2023 and 2024, a period of consolidation has begun, though this is almost entirely concentrated in the residential segment. Commercial rooftop systems, ground-mounted installations, and—in particular—commercial energy storage continue to grow—precisely the field in which the company operates exclusively.

Declining feed-in tariffs and the planned system change starting in 2027 are increasingly shifting the focus of profitability toward self-consumption, which benefits commercial systems with storage. Maintenance and repowering of existing commercial rooftops offer additional potential.

The market is highly fragmented and is undergoing a consolidation process: During the boom years, numerous, often undercapitalized providers entered the market; by 2025, the rate of bankruptcies in the industry had increased significantly. Competitors are primarily regional PV providers and electrical contractors with PV expertise. In a comparison of 19 regional electrical/PV contractors (based on public registry data), the company ranks among the most profitable in its industry. Profitability is not based on premium prices, but on a structurally low cost base: direct procurement from manufacturers, in-house electrical installation instead of outsourcing, and a lean organizational structure. The combination of a focus on commercial projects, in-house electrical engineering supervised by master electricians, and a track record with grid operators and industrial customers is rare in the regional market.