Santander Leasing extends green offer
The existing energy crisis and rising electricity prices are becoming a strong development stimulus in accelerating the energy transition of the national economy. This is moreover important in the context of the pressure from the European Union to achieve climate neutrality by 2030.
The trend of protecting the environment and supporting energy-efficient investments has for years been a focus of Santander Leasing. At the beginning of February this year the Company expanded its financing offer to include photovoltaic installations, heat pumps, energy storage and electric vehicle charging stations under a simplified procedure.
For years, the main criterion determining the significant growth of photovoltaic investments in Poland has been the possibility of financial support and their profitability. Investments in renewable energy are already attracting the largest private sector investors from across Europe, as well as private equity, private debt and infrastructure funds. It is also worth mentioning that the Renewable Energy Sources (RES) Directive sets a new target for RES for 2030, which would receive a 32 percent share from RES in final energy consumption across the EU. According to the European Commission, this should translate into a more than 50 percent share of RES in electricity consumption, where photovoltaics together with wind power will play a dominant role. This is confirmed by data: according to the Energy Market Agency, by October 2022 RES in Poland had generated 31,320 GWh, an increase of 125 percent compared to last year (24,928 GWh).
Currently, in addition to the aforementioned factors determining the growth of investments in RES, VAT rates are becoming a key aspect, having risen from 5% to as much as 23%, which is translating into a much greater burden for entrepreneurs. On the other hand, it should be emphasized that, as indicated by market analysts, the development of the energy sector in Poland, including the development of photovoltaics, is strongly dependent on the climate and energy policy of the European Union and the turbulence especially related to the war in Ukraine. We are convinced that the photovoltaic market will continue to be an important area of investment in renewable energy, hence the decision to significantly simplify the rules of investment financing.
The increase in the number of investments in the prosumer installation segment may be further influenced by the increase in the level of subsidies in the My Electricity 4.0. program, from which one can get a subsidy of up to 50% of the cost of the project. In December, the maximum subsidy thresholds were raised, and now the subsidy for a photovoltaic installation is up to PLN 7k and up to for PLN 16k for the electricity storage. The level of subsidy for heat storage is now PLN 5k and the level of subsidies for energy management system was left unchanged and amounts to PLN 3k. Subsidies cannot exceed 50% of the investment.
Simplified procedure in RES
Taking into account the dynamics and factors affecting the investment propensity of individual customers and entrepreneurs in RES, the Company introduced a simplified procedure at the beginning of February 2023 for financing of the most important products in the RES segment. As part of the the launched offer, financing is available for photovoltaic installations of up to 50kW, heat pumps of up to 60kW, battery energy storage of up to 50kW and electric vehicle charging stations of up to PLN 250k net. The maximum term of the financing granted can be as long as 10 years, and the deductible is 10%. An additional novelty in the offer is the provision of a dedicated website – zielonepanele.pl – where customers will be able to learn about the benefits of investing in photovoltaics. In this way, the Company wants to reach out to a new group of customers and expand their knowledge of the benefits of investing in renewable energy sources. Thanks to the new site, both individual customers and entrepreneurs can learn about the cost of the investment along with indicative terms of its financing, get acquainted with the offer of specific suppliers who will perform the installation for customers, and make an inquiry.
Unquestionably, the future looks green. These very transactions have been of key importance to our company for several years now, so we have made changes that are crucial from the customers' perspective to increase the availability and share of these investments in our sales. The website and special offer we are now launching have been prepared with selected, trusted suppliers and will be gradually developed throughout this year.
