Invest in Solar Energy and Energy Efficiency

Green Recovery and Opportunity Window (GROW) provides free technical assistance for businesses investing in renewable energy and energy efficiency in order to reduce their operating business costs.

By assessing personalized business needs and providing advisory services throughout the application process, the technical assistance will help businesses increase their chances of financing their investment through commercial lending.

F.A.Q.

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. GROW provides free advisory services, customized to your business needs, in order to guide your business to optimal technical solutions and to increase your chances of receiving commercial financing for your investment

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 of investing on solar PV-s?

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). In case you plan to invest on solar PV-s as an IPP or Prosumer, you have to complete 4 sets of documents in order to receive authorization from ERO: General requirements, Technical and Organization requirements, Final authorization requests and Financial requests.

How can I finance my investment?

There are two ways to finance your investment: you own funds and financing through banks and other financial institutions (loans). Financing your investment through a commercial is often advisable as it does not tie up cash resources of your business. 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 the operating cash flow of your business. VAT is deductible and the interest on your bank loan will be included in the operational expenses therefore both will have positive impact on net profit. The depreciation of solar PV-s or machinery will also be included in the operational expenses. Additionally, the Kosovo Credit Guarantee Fund (KCGF) provides credit guarantees on eligible commercial loans. KCGF will open a specialized window to support renewable energy and energy efficiency investments that can further support your business in accessing the financing you need to invest in solar PV.

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.