First Bank announces it offers a 50% reduction on its green financial credits to companies that want to install photovoltaic panels to recover their electricity costs. With these, companies have the opportunity to become prosumers, as well as to recover up to 100% of their bills.
"With electricity posing a significant challenge in a market with highly fluctuating prices, First Bank brings the first solution for green energy prosumers adapted to the latest regulations in force. Those who opt to install photovoltaic panel systems can completely replace the cost of their electricity bill with the monthly bank loan rate, achieving energy independence and effective control over the associated costs. Thus, once the loan of up to 7 years is repaid, the costs directly or indirectly related to electricity will not be such a major concern in the company's economy", said the Vice President of First Bank, Mădălina Teodorescu.
As such, more companies in Romania will be able to become prosumers by installing photovoltaic panels, having then the possibility to sell their excess green electricity in Romania's national electricity system.
With a lifespan of about 25 years, the photovoltaic panel system can be operated with low maintenance costs, but the ability to sell the surplus energy will be, though, dependent on the amount of power generated by the installed panel system.
Thus, as the loan is ongoing, the monthly credit rate and the maintenance cost of the panels can replace the value of the electricity bill, without effects on the cash flow of the company. A great benefit for businesses is that, in time, they would have the possibility to obtain full independence from the high price fluctuations of the electricity market.
First Bank’s announcement comes as, since March, the maximum capacity of the photovoltaic panel system for "prosumers" has been increased by four times, from 100 kW to 400 kW, which means that more companies are now eligible for these types of advantageous projects.
The bank also states that it is providing customers with free consulting and technical information, in order to support them in obtaining and implementing the project.