Financing is one of the main factors driving the growth of the photovoltaic market, enabling clean energy projects to become viable and accessible to businesses and consumers. According to a survey carried out by Greener, bank financing ed 51% of sales in the first half of 2024, maintaining the average level of last year.
The drop in the Selic rate from the second half of 2023, although still at high levels, and better financing conditions were factors that positively influenced the viability of new ventures in the solar sector.
In total, according to the study, integrators who sold up to 10 systems during 2024 presented a percentage of 32% of financed sales, while integrators who sold more than 100 systems declared that 54% were through financing.
Despite this significant progress, the segment still faces challenges in obtaining credit. In an interview with Canal Solar, Tiego Carvalho, commercial manager of Sun Now, explored the main barriers faced when seeking financing approval and which practices and strategies have shown the best results in reducing approval time.
In addition, he discussed the models that stand out in of effectiveness and accessibility, the main trends for the coming years and what type of partnership between financial institutions and solar energy companies can be created to facilitate access to financing.
Canal Solar: What are the main barriers that customers encounter when seeking financing approval in the solar sector?
Tiego Carvalho: The main barriers include everything from the lack of a credit score suitable for the investment to seeking credit from financial institutions that do not have specific financial products for the solar sector, which makes risk analysis and credit granting difficult.
What practices and strategies have shown the best results in reducing financing approval times?
Speeding up financing approval is crucial in a dynamic market. To achieve this, it is essential to demonstrate organization and payment capacity. Technology simplifies processes, reducing bureaucracy.
Furthermore, credit analysis can be streamlined by comparing the installment amount with the monthly energy expenditure, as long as the bill is in the name of the applicant or first-degree relative and consumption is at the location where the plant is installed.
Are there financing models that stand out in of effectiveness and accessibility for the solar energy sector? If so, what are they?
The financing model in which the financing installment is smaller than the electricity bill creates a virtuous cycle: the consumer saves, the bank has less risk and the investment in solar energy becomes more accessible and attractive.
The combination of lower interest rates and cheaper equipment makes this scenario even more promising, in addition to the increasing increases in dealership rates. This is the ideal model to boost credit approvals.
What are the main trends you see emerging in the financing landscape for solar energy projects in the coming years?
In the coming years, institutions will be more selective in their base of integrators and equipment eligible for financing. There will be a growing concern to finance only projects that meet quality standards and this implies the correct and rigorous selection of integrators, distributors and equipment.
Local self-consumption projects will become increasingly relevant and are becoming more attractive and promising. Several factors are driving this trend, including the inability of electricity grids (concessionaires) to meet growing demand, which has made it difficult to approve projects outside this scope.
What kind of partnerships between financial institutions and solar energy companies can be created to facilitate access to financing?
The transition to a cleaner and more sustainable energy model requires collaboration across multiple sectors. In the solar sector, integration between financial institutions, distributors and manufacturers stands out as a determining factor for the success of projects and market growth.
Through integration, it is possible to promote the professionalization of the segment, encouraging continuous qualification and compliance with quality standards, thus ensuring the excellence of projects and customer satisfaction.
Despite the obvious benefits, integration between the different players in the photovoltaic market still faces challenges such as the lack of standardization, the difficulty in sharing data and the need for investment in professional qualifications. It is urgent to forces to overcome these challenges, create collaborative platforms and certify professionals.
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