Residential electrification across Southern Europe remains early relative to its long-term potential. Spain and Italy combine strong solar resources, large owner-occupied housing stocks, and millions of homes still dependent on fossil-based heating. While rooftop solar adoption has grown steadily, penetration remains modest compared to national targets and the size of the housing base.In Spain, rooftop self-consumption exceeded 8 GW by the end of 2024, with national plans targeting around 19 GW by 2030, leaving a significant share of the build-out ahead. Italy reached roughly 37 GW of cumulative solar capacity, yet residential adoption remains uneven, and electrification beyond solar is still at an early stage. Heat pump uptake, while among the highest in Europe in absolute terms, represents only a small fraction of installed heating systems.The constraint is not demand, but execution. Residential electrification is delivered through a fragmented installer base operating with limited digital tools. Homeowners face complexity around feasibility, pricing, financing, and coordination, while installers struggle to scale reliably beyond local markets. As electrification shifts toward whole-home solutions, these coordination challenges become the primary bottleneck.

The Solution

Eltex addresses this execution gap by owning and orchestrating the full residential electrification journey through a single technology and operations platform.Founded in Spain in 2021, Eltex connects lead qualification, feasibility checks, pricing, financing, logistics, and certified independent installers into one coordinated workflow.Homeowners benefit from clearer pricing and more predictable timelines, while installers can focus on execution rather than sales and administration.Eltex centrally procures hardware to maintain quality and pricing control, while shipping materials directly to installers or sites, avoiding inventory complexity. Installations are delivered by a growing network of certified partners following standardized processes, with financing embedded directly into the sales flow. Solar was the entry point, with heat pumps, batteries, and EV chargers now fully integrated as part of a broader whole-home electrification offering.

Why we invested

We invested in Eltex because the team has built a platform that addresses the core execution challenge in residential electrification: reliably delivering complex, multi-technology projects at scale. The company was bootstrapped to double-digit million revenue in 2025 and has proven resilient to subsidy rollbacks, demonstrating strong capital discipline and operational control.Eltex owns the customer journey while operating an asset-light installer network, allowing it to scale without heavy fixed costs or balance-sheet risk. As residential electrification shifts from single-product installs toward bundled solutions that combine solar, storage, heating, charging, and financing, value increasingly accrues to platforms that can coordinate delivery and installer capacity end-to-end. Eltex’s execution-first approach and standardized operating model position the company to become a durable infrastructure layer for home electrification across Southern Europe.