Harnessing the power of the sun to produce abundant and clean electricity is no brainer, as it allows millions of households across Europe to enjoy free electricity and provides them with the tools to better cope with the current energy crisis. However, there is plenty of ground to cover in further taking advantage of sun power across the entire continent, with rooftop solar uptake struggling in several European states, especially in Eastern Europe or even to some of the sunnier countries of Southern Europe.
One of the main obstacles for the rapid uptake of solar energy is of course financing. Though solar energy is a practically self-financed commodity, as the initial investment for its installation is returned many times over, many households can still not afford the initial upfront investment.
This is where FREE SOLAR, a new financing initiative by Genervest and Greenpeace Greece, comes to offer a win-win solution for all! FREE SOLAR aims to accelerate the uptake of solar energy self-consumption (net-metering) in Europe. It creates a friendly framework for investments in small self-generating solar energy systems, which can in turn be carried out with zero initial capital and at a competitive interest rate. This means that households will get their own photovoltaic (PV) system without paying any money at the start, gradually repaying the investment by the money saved from the PV system’s operation. Households will be able to produce their own free electricity, saving up to 100% of their electricity costs and achieving significant savings over the next 20 years.
What’s more, FREE SOLAR is designed in such a way as to utilise possible government financial incentives for solar rooftop systems to the fullest. Indeed, in Greece, the government recently announced a generous subsidy program to allow households to install solar rooftop systems with batteries. FREE SOLAR will let the households take advantage of the program, thus freeing up resources to allow even more households to benefit from FREE SOLAR’s financing opportunities.
FREE SOLAR’S pilot project started off in Greece in the region of Karditsa. With the help of its local partners, the Energy Community of Karditsa, eight households were selected to be hosted in the Genervest investment platform. These households have already acquired the necessary license from the grid operator and once the project has successfully reached its funding goal the installation process will begin. Pending the successful conclusion of the Karditsa pilot project, FREE SOLAR will open up to more selected areas in Greece and in Europe, helping more households gain access to free solar energy without any upfront investment. The households will use the governmental subsidy to cover part of the installation cost, while getting the rest of the funds needed from Genervest.
FREE SOLAR is creating an easier way for all households to get their rooftop solar panels. solar energy. Join now and help us change the landscape of solar energy in Europe! Let’s transition to a clean energy future and break free from polluting, expensive fossil fuels together!
Find out more about the project and how you can support it here