Lower interest rates, simplicity and flexibility in credit approval are relevant factors in leveraging the volume of financing in the solar sector. However, Fábio Carrara, CEO of Sólfacil, a fintech that finances solar energy projects, states that it is also necessary to extend the deadline to bring immediate savings to the customer.
“One of the battles we made a point of buying when we launched the Solfácil line was to bring longer to the market, as just a low interest rate is not enough, for example. Therefore, despite being a fintech, we are one of the few institutions that have 10-year financing ”, highlights Carrara.
According to the executive, it is quite challenging in Brazil to make this possible, as the Brazilian capital market has a short-term vision. “The segment is very afraid of being tied to credits that are very long. But, we proved that we have quality mechanisms and managed to bring in large funds to buy our debentures”.
The expert also highlights that traditional banks that have financing lines have been relevant to the sector, however, each one has its advantages and disadvantages. “For example, some require opening a current to make the loan, others are more bureaucratic and require invoices that often do not adapt to market reality. In the case of Solfácil, it differs because we wake up and sleep thinking only about solar energy. We believe that this brings us more agility and flexibility compared to banks that operate in different areas, which end up being more rigid.”
DG Market
Fábio Carrara highlights that the photovoltaic DG (distributed generation) segment is a countercyclical market, which generates savings for people and grows very quickly. “The sector will generate tens of billions of reais over the next five years. Our vision is that a large part of this will be financed. In 2015, only 15% of systems were financed. Today, it is close to 50%. In the long term, it should reach close to 80%.”
According to him, Solfácil will be one of the most relevant financing players in the DG market. “We want to finance a few billion reais over the next five years. Speaking of the short term, in the next 12 months, the idea is to finance R$300 million.”
Investments
According to ANEEL (National Electric Energy Agency), in 2019 the DG sector moved more than R$6 billion, an increase of 236% in the number of photovoltaic system installations compared to 2018. In the first half of this year, this increase was 90%, even during the Covid-19 pandemic.
According to data from the ABSOLAR (Brazilian Association of Photovoltaic Solar Energy), more than 15 billion in investments in DG have been accumulated since 2012, distributed across all regions and states of Brazil.
REN 482
For Carrara, the procedures that are taking place in the legislative part of Brazil, such as the new proposal of ANEEL for the amendment of Normative Resolution 482, they should not affect financing and investments in solar energy in the country.
“The solar energy market has a regulated component, so regulatory risk exists, but I believe there will not be major problems. The sector will continue to grow. When there is technological innovation, nothing holds back the consumer’s desire. I believe that solar s, batteries and electric cars will be in every home in the future. It’s just a matter of time”, concluded the executive.
