Poland has been advancing on the responsible banking agenda also underpinned by sustainable and inclusive banking. Solar Lease is a new green product implemented by Santander Leasing. As a result, the company has expanded its financing offer by a wide range of solar installations with a capacity of up to 50kW and a value not exceeding PLN 300,000 net.
Green energy is the future. In the programme of Planeta Calleja, Ana Botín said that the challenge is not simply to finance only what is already green, but to green the rest of the economy. We need growth that powers and funds investment in green technology.
Since February 2020 sole traders and farmers will be able to apply for attractive financing from Santander Leasing Polska. It may be a loan or a lease and it does not depend on the location of the installation. The min. downpayment is 10% of the value of the installation, with tenor ranging from 12 to 72 months. The financing may be earmarked for photovoltaics with capacity from 10kW to 50 kW with a total net value ranging from PLN 15 to 300k.
According to the analysis by SolarPower Europe, Poland ranked fifth in Europe for solar growth in 2019. Spain, Germany, the Netherlands and France led the ranking. Investment in photovoltaics rests heavily on access to financing and returns. According to International Renewable Energy Agency (IRENA), in 2010–2018 the average cost of 1 kilowatt hour of solar energy fell from USD 0.37 to USD 0.09.
“According to analysts, the growth of the energy market in Poland, including photovoltaics, is strongly correlated with the climate- and energy-related policies in Europe and globally. This does not change the fact that the regulatory environment is being further clarified and the financing conditions for investments in this area are improving every year. We are sure that photovoltaics will be an important part of the renewable energy market”, says Daniel Mrozek, Head of Strategic Partnership and Marketing at Santander Leasing.
“This is also facilitated by the EBRD loan granted to us at the end of last year in the amount of PLN 340 million (under the PolGEFF Leasing Framework programme), which aims to support entrepreneurs in the implementation of energy-saving investments and having a positive impact on the environment,” he adds.
More information available on website.