In an increasingly unstable economic-political context, Romanians, both individuals and legal entities, are feeling the ever-increasing costs of energy and are turning to photovoltaic systems, which could reduce these costs by up to 6 times. Thus, 2024 will be the best year for the photovoltaic systems market, with increasing demand, especially from rural areas, and with a high interest in financing from SMEs, according to Kilowat forecasts, one of the main consulting and photovoltaic system installation companies from Romania.
The level of demand for the installation of photovoltaic systems will remain at least the same in 2024 compared to last year, with increased interest from Romanians with houses in the countryside, where there is a strong trend of switching to green energy.
"We see an extremely energetic year on the photovoltaic systems market, especially in an economic context considered uncertain by many Romanians. For this reason, to prepare for tougher times, to save and to live in the coming years without worrying about energy bills, the number of solar panels will increase in Romania, with or without state funding. If they could, Romanians would install solar panels anywhere, including the block, to get rid of electricity bills. We thus feel the tension of the increasing need for photovoltaic systems and we see an increased interest especially in the rural environment, where many Romanians no longer wish to postpone the moment when they will become energetically independent. And to come to their aid, we offer support in accessing financing through European funds", explains Albert Soare, founder of Kilowat.
Romanian SMEs are increasingly interested in renting photovoltaic systems
At the same time, the demand for photovoltaic systems on the part of companies is increasing, which will access any type of financing to benefit from green energy. The need of SMEs for energy optimization is ever greater and to remain competitive in their fields of activity, directing the savings obtained by switching to green energy in projects for business growth. Thus, SMEs are increasingly interested in getting rid of energy bills, turning to consultancy for choosing the best financing solution. In this regard, Kilowat estimates a 50% increase in demand for assistance in finding the optimal financing option for companies.
The most interested in the installation of solar panels are companies with production activity and HoReCa, where energy consumption is very high.
"2024 comes with a strong trend: the need for great financing. Thus, the photovoltaic market will be focused on the financing of any type, from public, banking, non-banking, and European. Companies will prefer to collaborate with suppliers that offer the possibility of financing for the installation of solar panels, and therefore, we believe that the option of renting photovoltaic systems, with a fixed monthly rate, without the need for a classic loan, will be the most requested by SMEs the Romanian ones. From 2023, we have made this innovative solution available to companies to help them benefit from the advantages of solar panels, without the stress and additional expenses of a standard bank loan, especially since at the end of the lease the ownership of the systems will be transferred to the beneficiaries. Moreover, more and more companies turn to us for the qualified assistance we offer in choosing the right type of financing for solar panels in a short time. Companies want to cut costs more and more, and installing solar panels is among the first options for them in 2024", says Albert Soare, founder of Kilowat.
Also, more and more photovoltaic systems will be used to power car charging stations, electric scooters, bicycles, and scooters. A special interest will also be from the area of public administration, where many public institutions will want to install solar panels to reduce electricity expenses.
In parallel with the increase in demand for photovoltaic systems, there will also be an increase in demand for large batteries, which are becoming increasingly essential in the renewable energy sector. Large PV plants will be required to integrate large batteries to ensure efficient energy storage. This represents a significant change in the way renewable energy sources are managed and used.
Although it will be growing, the PV system market will go through a series of adjustments and corrections in 2024. Inevitably, problems in this field will surface, such as unfortunate incidents created by certain installers in the market who cannot provide quality services at low prices, using poor quality materials, and unqualified staff. The field needs to offer consumers safety in the use of photovoltaic panels more than ever, especially since Romanians will rely more and more on green energy to escape the worry of electricity bills.
