What Solarbank does

Solarbank (UAB Solarbank) is a Lithuanian private company founded in 2019 that operates a remote solar park platform enabling individual households to purchase fractional shares of utility-scale solar farms and consume the generated electricity anywhere in Lithuania through the ESO distribution grid. Customers use an online calculator to size their share, select a project (Grikapalyje, Didžiasalis, or Malvinavas phases), sign contracts electronically, and become registered prosumers with support from APVA government subsidies of up to EUR 3,230 per system. The model relies on Lithuania's 2019 legislation — among the first globally to permit remote solar electricity ownership — combined with exclusive technology from SoliTek: SOLID Bifacial dual-glass modules paired with single-axis tracking, which the company states generate 35-40% more electricity per kW than standard solar installations.

The business generates revenue from one-time module sales (EUR 486-646 per 0.36 kW module depending on project) and recurring annual platform/maintenance fees billed at the start of each calendar year, indexed to the consumer price index, plus grid storage fees paid to ESO. Customers can pay upfront or finance through a Swedbank partnership offering fixed 4.9% APR loans over 6 months to 10 years. The company markets primarily to residential households, particularly apartment dwellers who cannot install rooftop solar, with a secondary small-business segment; distribution is fully digital via the solarbank.lt self-serve platform, supported by content marketing, email, and Facebook.

Solarbank operates approximately 8-9 MW of installed and in-development solar capacity across three Lithuanian sites (Grikapalyje in Lazdijai district, Didžiasalis in Ignalina district, and the multi-phase Malvinavas complex), with 1-10 employees, EUR 350K of disclosed seed capital from Open Circle Capital, and project-level financing from VIPA (Public Investment Development Agency). Management is led by founder Jonas Vaišnys and co-founder Ernestas Žvaigždinas. The company received the Energy Project of the Year 2020 award from the Lithuanian Business Confederation.

Name

Solarbank

Legal name

UAB Solarbank

Website

https://solarbank.lt

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Solarbank is a Lithuanian platform that lets households buy fractional shares of utility-scale solar parks and consume the generated electricity anywhere in Lithuania via the ESO grid, serving primarily residential customers including apartment dwellers under the country's 2019 remote solar law.

Ownership category

akta.pro rank

Product category

Distributed Solar Energy Services

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Community Solar Development & Subscription Management (EUAMAJAA)

akta.pro secondary industries

Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ), Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Solar Mounting, Racking & Trackers (Fixed-Tilt, Single/Dual-Axis, Rooftop Mounts) (EUAMABAF)

Keywords

• Remote solar parks
• Residential solar modules
• Bifacial solar panels
• Prosumer electricity
• Solar park shares

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Solar Module Sales: One-time purchase of solar modules in solar parks. Customers buy individual modules (e.g., 0.36 kW bifacial modules) at prices ranging from €486 to €646 per module depending on the project. Payment can be made upfront or in installments over 10 years.
2. Platform/Maintenance Fees: Ongoing platform (surveillance/administration) fee and grid usage fee (paid to ESO) charged to customers for maintaining their solar park share. Fees are indexed annually according to consumer price index.
3. Annual Billing - Platform Fee: SOLARBANK issues invoices once per year, at the beginning of the calendar year. The annual platform fee covers park maintenance and administration services.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Solarbank operates an online platform that enables Lithuanian households and small businesses to purchase fractional ownership (modules) of large remote solar parks and consume the generated electricity through the national ESO electricity grid, becoming producing consumers (prosumers) without installing rooftop solar panels.

Product overview

SOLARBANK is a Lithuanian solar energy platform offering a remote solar park model where customers purchase shares (modules) of large solar farms and become producing consumers. The core product is the SOLARBANK Saulės parkai — a unified platform accessible at solarbank.lt. The offering comprises multiple solar park projects (Grikapalis, Didžiasalis, Malvinave) where customers buy individual modules. The platform integrates a Skaičiuoklė (calculator) tool for sizing, supports installment purchases via Swedbank, facilitates APVA government subsidies, and delivers electricity through ESO grid integration. Customers pay approximately 5-6 ct/kWh (platform fee + grid storage fee) versus 30-40 ct/kWh from conventional suppliers, backed by a 30-year operational guarantee.

Differentiator

Problem solved

Functional benefit

Products and services

• Saulės parkas Grikapalyje (Grikapalys Solar Park) A remote solar park project in Grikapalys with 8.7 kW total capacity, available to Lithuanian residential customers and small businesses as fractional ownership modules priced at €504 per module, with 4 modules available. Modules carry a 30-year warranty and use Bifacial Track +40 bifacial single-axis tracking technology.
• Saulės parkas Didžiasalyje (Didžiasalis Solar Park) A remote solar park project in Didžiasalis with 6 kW total capacity, available to Lithuanian residential customers and small businesses as fractional ownership modules priced at €486 per module, with 64 modules available. Modules carry a 30-year warranty and use Bifacial Track +40 bifacial single-axis tracking technology.
• Saulės parkas Malvinave (Malvinavas Solar Park) A remote solar park project in Malvinavas with 4.5 kW total capacity, available to Lithuanian residential customers and small businesses as fractional ownership modules priced at €646 per module, with 113 modules available. Modules carry a 30-year warranty and use Bifacial Track +40 bifacial single-axis tracking technology.

Quantifiable outcome

• 35-40% more electricity generation per kW than standard solar installations
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• SoliTek (SoliTek Cells / SoliTek Development)coreTechnology or Integration · 1 January 2019Strategic technology partnership with SoliTek, Lithuania's leading solar module manufacturer. SoliTek supplies SOLID Bifacial dual-glass modules and 'Bifacial Track +40' technology with single-axis solar tracking. SoliTek was recognized by Cradle to Cradle Products Innovation Institute as producing the 'greenest solar modules in the world' in June 2020. SoliTek modules are manufactured in Lithuania using eco-friendly processes.
• APVA (Aplinkos projektų valdymo agentūra)coreOthersLithuanian Environmental Project Management Agency providing government subsidies to households purchasing remote solar park shares. APVA processes applications and disburses compensation payments. Support of €323 per 1 kW (up to €3,230 for 10kW systems) available to qualifying customers.
• ESO (Energijos skirstymo operatorius)coreStrategic or Co-development PartnerElectricity distribution system operator required for grid connection of solar parks and handling of net metering. ESO 'stores' excess solar generation in their grids for customers to use later, and implements prosumers' status changes. Solar parks cannot operate without ESO grid infrastructure.

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Enefit Green: Estonian state-linked renewable energy developer and operator with wind, solar, biomass, and hydro assets across the Baltics — comparable as a Baltic-region utility-scale renewable operator overlapping with Solarbank's solar park development.
• Ignitis Group: Lithuanian state-controlled integrated utility group with renewable generation, distribution, and customer supply — overlaps with Solarbank as the dominant domestic player in electricity supply and a potential competitor/partner for remote solar customers.
• Engie: Global utility and renewable energy developer with significant European community-solar and decentralized generation offerings — represents the type of large incumbent Solarbank would compete with or partner alongside as the remote/community solar category matures.

Direct peers

• Sunrun: US residential solar leasing and PPA company offering homeowners a subscription-style alternative to rooftop ownership — a business-model analog to Solarbank's fractional-ownership approach for households that cannot or prefer not to own physical panels.
• Sunly: Estonian/Baltic renewables platform that develops community and commercial solar parks and sells shares/subscriptions to households and businesses — the closest geographic and model analog to Solarbank's remote-park subscription model.
• Arcadia: US community-solar platform enabling households to subscribe to shares of off-site solar farms and receive bill credits — directly comparable platform model to Solarbank's remote solar park subscription offering for residential customers.

Regional players

• Saulės Grąža: Lithuanian solar EPC and developer with utility-scale and commercial solar projects — a domestic peer in solar park development that competes for engineering capacity, land, and grid connections in the same Lithuanian market.
• Utilitas: Estonian vertically integrated energy group with district heating and growing renewable generation portfolio — comparable as a Baltic energy operator exploring distributed solar and adjacent customer offerings to Solarbank's residential base.
• Evecon: Estonian solar and wind developer operating in the Baltics — a regional peer in distributed renewable park development that shares the Baltic market dynamics and customer base with Solarbank.

Others

• SoliTek (SoliTek Cells): Lithuanian manufacturer of bifacial glass-glass solar modules and Solarbank's exclusive technology partner. Highly relevant as both the upstream supplier of Solarbank's differentiated module technology and a thematic peer in the Lithuanian solar ecosystem.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solarbank