Green Crowd – 2023 EIIS Investment Opportunities – Opening Soon
Green Tech Distributors Limited
The solar industry in Ireland has experienced significant growth and transformation in recent years due to the increasing cost of energy, increasing awareness of renewable energy, government support initiatives and advancements in solar technology. Various Government incentive schemes have played a crucial role in promoting the adoption of solar PV systems in Ireland. Net metering policies which allow consumers to sell electricity back to the grid has provided further incentives for solar adoption.
Throughout 2022 and 2023, solar PV installers in Ireland have experienced uncertainty of supply from the limited number of specialised PV solar distributors in the market. There have been continuous shortages of panels, inverters and fitting rails.
The existing distributors operating in the market, who have traditionally sourced products from the UK, have found their channels curtailed because of UK local demand, Brexit and Customs delays.
Recent supply chains established by them with EU channels have seem them having to compete for limited European supply volumes. The consequence is that what limited stock of equipment that is available has been rationed across customers, often without a complete kit of equipment being supplied. This has been exacerbated by significant price increased of c.30% being applied by distributors due to product supply restraints. The current Irish distributors also carry limited stock lines.
In 2022, Green Tech Distributors raised c.€500,000 under EIIS. The funds were used to purchase stock directly from manufacturers for onward sale to commercial installers in the Irish Market. Supply agreements are in place with a number of PV installers for the supply of a baseline 3MW equivalent of PV equipment equating to €1.6m in orders. This has provided Green Tech with a baseline order book for its initial years of operation, as it develops other customer relationships.
Green Tech Distributors will be conducting another round of EIIS fundraising in 2023. Sign up now to register your interest.
Batterybox Technologies Limited
The SME Market (Commercial & Industrial) is actively seeking to install battery storage solutions to support its PV Solar Installations and this represents an exponential growth opportunity. The SME Market has responded to the 2022 Energy crisis by moving to adopt Roof Top PV Solar to provide a base load level of energy being generated on their roof tops, at a fraction of the grid-based energy costs.
While PV Solar works exceptionally well where there is a continuous base load of electricity at all times e.g refrigeration, in most manufacturing environments where production ceases at c.6pm in the evening and at weekends; power produced by Solar is ‘lost’ to the grid. Where Roof Top PV Solar is supported by Battery Storage this allows the electricity generated to be stored for later use, rather than being lost to the Grid. An export payment mechanism is due to be implemented for the Commercial Sector by Government but is not yet in place, as enabling legislation is awaited. When this is implemented in 2023 the government is expected to offer a guaranteed export payment of 13.5c per kw exported for a fifteen-year term. Whilst this will be a welcome initiative and provide an income for export, a significant spread remains between the 13.5c paid per kw for export and the cost of energy at the meter to the SME Customer (varying from 35c – 48c per kw).
Would you like to know more about or EIIS Investment Opportunities in 2023? Register early as an investor or stay up to date by emailing us at email@example.com