How can I finance my investment?

There are two ways to finance your investment: with your own funds or with financing from banks and other financial institutions (loans).
Financing an investment through a commercial loan is often advisable, as it does not tie up your business’ cash resources. Furthermore, instead of paying your monthly electricity bill, you can repay the loan using money saved from your electricity bills – in other words, without negatively affecting your business’ operating cash flow. VAT is deductible and the interest on your bank loan will be included in the operational expenses; therefore, it will have a positive impact on net profit. The depreciation of the solar PV equipment or machinery will also be included in your operational expenses.
The Kosovo Credit Guarantee Fund (KCGF) provides credit guarantees on eligible commercial loans. KCGF has opened a specialized window to support renewable energy and energy efficiency investments that can further support your business to access the financing you need to invest in solar PV.

The benefits of investing in RE?

Investments in renewable energy have multiple benefits for your business as well as for the environment.
Benefits of investments in RE:

  • Reduction of monthly energy bill costs
  • Good return on investment (approx. 6 years)
  • Reduced power outages / improved energy security
  • Higher brand value/name and property value
  • Increased resilience of your business from future increases in electricity prices
  • Protecting the environment
  • Low-maintenance upkeep (especially if no batteries are being used)
  • Supporting the local economy
  • Resistant towards future energy-related regulatory taxes (e.g., Carbon Tax implementation and other regulatory changes)

What are the average costs of solar PV installations?

The average cost of solar PV-s installation is 700EUR/kW (the actual price varies depending on many factors: capacity, product quality, installation of solar PV-s etc.).
You can contact one of the listed installers to receive an offer for your business. RESOURCES

What are the steps for investing in solar PVs?

Entities that plan to sell electricity they generate (IPPs); or that plan to install solar PV with the right to transfer excess electricity generated back to the grid (Prosumers) have to complete four sets of documents in order to receive authorization from the Energy Regulator Office (ERO): General requirements, Technical and Organization requirements, Final authorization requests and Financial requests. More information about these documents is provided under the How to Apply tab. Entitles that plan to use electricity generated through solar PV for their own needs (Behind-the meter and Off-grid producers) do not need to complete any documentation before installing their solar PV installations.

How can GROW help my business?

GROW helps you to understand the opportunities for investing in renewable energy and energy efficiency, in order to reduce your energy costs and grow your business sustainably.

What is the return on investment from solar PV-s?

The average return on investment from solar PV-s is approximately 6 years. You will repay the bank loan in six years with roughly the same amount that you currently pay for electricity bills. As solar PV generally has an operational live span of at least 20-30 years, this means that after the six years of debt repayment are over, you will receive solar energy for free for at least 20 years. In this way, you can invest the savings in growing your business.
Contact GROW team to apply for free and personalized technical assistance. APPLY FOR TECHNICAL ASSISTANCE.