Lithuania achieves another milestone in solar energy generation and launches a remote solar consumer model. 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 share of solar energy generated in remote solar panels. It means that people living in one part of the country can use solar energy generated in other parts of the country. The buyer calculates how much energy a household uses and then accordingly buys a share 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. For further information see the IDTechEx report on Distributed Generation: Minigrid Microgrid Zero Emission 2018-2038.
Deividas Varabauskas, CEO 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 had the right to generate and use renewable energy sources from remote solar power plants."
Mr Varabauskas adds that it does not only help Lithuania to move towards climate neutrality, but it is 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 the panel's size and whether you rent or buy it, but the results are evident," says the CEO of Sun Investment Group.
Deividas Varabauskas explains how platforms like "Solar Community" could speed up the conversion to renewables. "Companies are 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 doors for people living in shared premises and for companies with fewer resources. Also, it takes less time to buy or rent a remote panel and start generating energy."
"Solar Community" is an example of how governments and organizations can include more individual and private consumers to contribute to a clean energy transition. Businesses can also use the new remote model. With these changes, it is expected that the popularity of solar energy will increase encouraging other countries to follow Lithuania's example.
Household owners and companies can also apply for the financial compensation for buying the remote solar panels. 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 are not 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, more advanced solutions can be expected for developing solar energy production.
Modern consumer needs require advanced solutions. For a long time, it was believed that solar energy was available only for companies and individuals who owned private property or had 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
Source: Sun Investment Group