Triple Solar

Triple Solar, established in 2009 by founders Cees Mager and Terence van Buuren, operates from its Amsterdam headquarters as a specialized manufacturer in the renewable energy sector. The company has secured its position by developing and producing a proprietary Photovoltaic Thermal (PVT) system designed to provide heating, cooling, hot water, and electricity. This integrated solution serves as an alternative to traditional gas heating and other heat pump systems. The business primarily targets the residential housing market, including both new construction and retrofitting existing homes, as well as apartment complexes and utility buildings.

The core of Triple Solar's offering is the PVT heat pump system, which combines two technologies into a single panel. The front of the panel consists of photovoltaic (PV) cells that convert sunlight into electricity. The back of the panel functions as a thermal (T) exchanger, which extracts ambient heat from the outside air, sunlight, and daylight, 24 hours a day, even in freezing conditions. This collected heat is then transferred to an indoor PVT heat pump, which upgrades the energy to heat the home and provide hot water. A key differentiator of the system is the elimination of a separate, often noisy, outdoor unit typically required by air/water heat pumps. During the summer, the system can also be used for active cooling. The company has developed its own state-of-the-art control system and utilizes the natural refrigerant propane, underscoring its commitment to sustainable technology.

Triple Solar's business model involves the development, production, and sale of these PVT systems. The company emphasizes European manufacturing, with production facilities in the Netherlands and components sourced from Europe. Its revenue is generated through the sale of these systems to a market of homeowners and property developers looking to reduce CO2 emissions and achieve energy independence. The company has raised approximately $10.8 million in funding over two rounds, with notable investors including Startgreen Capital, the DOEN Foundation, and the Dutch pension fund ABP, to support its growth and maintain its position in the energy transition. In January 2024, Triple Solar expanded its capabilities through a merger with evoyo.

Keywords: PVT systems, heat pump, renewable energy, solar thermal, residential solar, gas-free heating, building energy efficiency, sustainable cooling, energy transition, cleantech