Lithuanian companies launch the first in the world online consumer platform where everyone can purchase a part of remote solar plant. New legislation in the country, changing consumer needs and growing demand for solar energy inspired a project called “Solar Community” (Lith. “Saulės bendruomenė”). Andrius Terskovas, Managing Partner and Chief Business Development Officer of Sun Investment Group – the company behind the project – explains how this model can benefit individual consumers, and help expand solar energy production globally.
March 25th, 2020. Lithuania’s solar scene achieves another milestone in solar energy generation by presenting remote solar consumer platform to its residents. The project is unique as it gives an opportunity to buy or rent a remote solar panel and do all that using one online platform. As the world needs faster and more efficient ways to generate renewable energy, online platforms like “Solar Community” could be a life-changing solution.
The online platform enables consumers to purchase a part of solar energy generated in remote solar parks. New opportunities for residents of apartments appeared as Lithuanian Ministry of Energy introduced the new law to install solar plants on 1st of October 2019. Residents now can produce and consume electricity for their own use in geographically different places. The buyer calculates how much energy a household uses and then accordingly buys a part of remotely generated power. Capacities range from 1 kW to 10 kW and feed the electricity produced into the grid to cover their household needs later.
Andrius Terskovas, Managing Partner and Chief Business Development Officer of Sun Investment Group, explains why they chose this concept and how it benefits consumers: “The world is eager to contribute to clean energy generation and switch to solar energy. But eagerness is not enough – at this point, we have to act quickly and come up with more efficient solutions. The Lithuanian market was suitable to start our project. Recently, Lithuania – in pursuit of the EU energy plans – passed amendments stating that everyone has the right to generate and use renewable energy sources from remote solar power plants.”
Mr. Terskovas adds that it does not only help Lithuania to move towards climate neutrality, but it’s also a practical way for citizens to save money, “An average Lithuanian household needs a 2-3 kW power solar panel. So within a year of using a 2 kW solar panel, a household would approximately save 190 euros, around 930 trees, and reduce CO2 emission by 37 tons. Of course, the return depends on a panel’s size and whether you rent or buy it, but the results are evident.”
Andrius Terskovas explains how platforms like “Solar Community” could speed up the conversion to renewables. “Companies are often discouraged from building solar panels in their property, as it’s expensive to build, takes a long time to get permissions for building it, and there is a lack of solar energy auction quotas. Until now, in Lithuania, only a few companies and individual users had enough resources to build solar panels, but the new platform would open the door for people living in shared premises and for companies with fewer resources.”
“Solar Community” is an example of how governments and organizations can include more individual and private consumers to contribute to clean energy transition. Businesses can also use the new remote model. With these changes, it’s expected that the popularity of solar energy will increase, encouraging other countries to follow Lithuania’s example.
Lithuanian Government Offers Financial Compensation to Encourage People
Household owners can also apply for the financial compensation for buying a remote solar panel. The Lithuanian Energy Ministry has recently released a support scheme which allows consumers to apply for a one-time compensation of 323 EUR per installed kW. This is expected to increase the current number of producing consumers of 3400 by several times.
Although Lithuania is the first country in the world to launch an online platform to buy solar energy, similar efforts aren’t a new thing in the world. For instance, recently, Audi introduced its subscription-based platform where Audi vehicle users can purchase plans for solar energy. With similar projects in progress, we can expect to see more advanced solutions for developing solar energy production.
Modern consumer needs require advanced solutions. For a long time, it was believed that solar energy is available only for companies and individuals who own private property or have a large rooftop to set the structure. But now, with Lithuania taking a leap in remote solar energy production, the market should see more consumers contributing to renewable energy growth.
ABOUT SUN INVESTMENT GROUP
Sun Investment Group (SIG) was founded in 2011 as an investment management and development company focused on solar energy assets within investment-grade markets. It has extensive experience in developing solar power projects across Central Europe and the Baltic region. SIG has a track record of 158 separate projects delivering a total of 131 MW capacity. 500+ MW of projects are currently under the advanced development phase. For more information, visit www.suninvestmentgroup.com
For more information about „Solar Community“ visit here.