September 15, 2020.
The information was prepared by Gita Deniškāne, communication consultant of the AJ Power group of companies.
In 2020, public interest in the use of solar panels among both companies and households will continue to grow significantly. Roberts Samtiņš, the head of the AJ Power group of companies, explains the main reasons why this year there has been a significant increase in demand for solar panel solutions for both private homes and companies.
Technological development
Solar panel technological solutions are constantly being improved, with the aim of becoming more accessible to as many people as possible. The solar panel market has huge potential and is being rushed by technology companies to create the most convenient and efficient solar panel solutions for consumers. For example, during the last 4 years, the productivity of solar panels has grown very rapidly – by more than 50%, at the same time replacing the solar panel production technology itself. At present, both Lithuania and Estonia already produce solar panels, which occupy their niche in the European market. In Latvia, no manufacturer has applied in this technology niche yet, but it is only a matter of time.
“The installation of solar panels in Latvia is also becoming cheaper and more accessible every year, as a result of which more and more people are considering choosing solar energy solutions for their household. Companies also see renewable energy (RES) as a meaningful investment that pays off, because when installing solar panels, they can use the electricity produced for own consumption, thus becoming more independent of fluctuating electricity prices, “says Roberts Samtiņš.
The desire to optimize costs and become independent
2020 has been a challenging year around the world, but it has not reduced the demand for solar panels – on the contrary, both citizens and businesses are looking for solutions to optimize electricity costs and become more independent of external conditions. It was during the pandemic that it was important to reconsider our priorities and decide in favor of safe and meaningful investments in the installation of solar panels, thus reducing the electricity bill. Many took the opportunity to invest in the installation of solar panels just before the sunniest season of the year, as it has a payback period of 7-10 years, which is significantly faster than, for example, investing in real estate.
“We see such a positive trend also after the implemented solar panel projects for customers, according to current data, our installed solar panels throughout Latvia produce about 53,800 kWh per month on average, which fully or partially provides household and corporate electricity consumption and significantly reduces electricity costs.” AJ Power “installed solar panels in Latvia have already produced more than 1,200,000 kWh of green electricity, as a result of which their owners have been able to reduce electricity costs by 177,000 EUR. Thanks to the produced solar energy, 122.4 tons of CO2 have not been released into the atmosphere,” concludes R Velvet.
Households In Latvia, solar panel systems with a capacity of 7 kW are most often installed, which allows homeowners to produce ~ 7,000 kWh per year. It is possible to spend the amount not spent during daylight hours later – in the evenings, when we consume more electricity, or we can save electricity for the winter period. On the other hand, solar panel systems of 25 kW and more are mostly installed among companies, which helps to provide a part of the electricity needed by companies and significantly save on electricity costs.
Reduced bureaucratic processes
Several important steps were taken this year to improve the RES support mechanism in both the public and private sectors, which have facilitated the implementation of solar panel projects. In the future, by using the NET billing system and consuming the electricity previously produced by solar panels, households no longer have to pay OIK (mandatory procurement component), and the administrative burden for those who choose to become electricity producers is reduced.
Banks are also becoming more welcoming and this year, for the first time, one of the banks in Latvia is offering a special loan for the purchase and installation of solar panels with a connection to the electricity system. In order to promote the use and production of renewable energy resources, such an opportunity should be provided in most banks in Latvia. Interest in the installation of solar panels in Latvia is currently high, therefore wider loan opportunities would certainly give the necessary impetus to the development of the industry.
“Our closest neighbors, Lithuanians and Estonians, are developing RES projects much more actively, proving that Latvia also has potential for this, but for various reasons development is still slow. According to IRENA (International Renewable Energy Agency) publicly available data, the capacity of solar panels installed in 2019 It was 34 times higher in Lithuania and 30 times higher in Estonia compared to Latvia
we will have a successful example, because it will be easier to make a decision in favor of investments in solar energy, “explains R. Samtiņš.
About AJ Power Group:
AJ Power is the largest group of Latvian private energy companies operating since 2014. AJ Power offers integrated energy services – trade in electricity, natural gas, implementation of energy and solar energy projects, as well as a natural resources tax management system. The turnover of the AJ Power group of companies in 2019 is 83 million euros.
Additional information:
Gita Deniškāne,
Communication consultant for AJ Power group of companies
M: +37129890433
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