Energy and climate policies on an international scale require the reduction of pollutant emissions and CO2. The target set in the Paris Agreement for 2030, which is a reduction of greenhouse gas emissions by at least 40% compared to the 1990 level, necessitates investments in renewable energy sources.
The global photovoltaic market was valued at $76.6 billion USD in 2020, and the forecast suggests an annual growth rate of 8.1% from 2020 to 2025, reaching $113.1 billion USD by 2025. The photovoltaic industry is one of the fastest-growing sectors in global markets, surpassing wind turbines in terms of installed capacity growth in the renewable energy market. In recent years, the Polish market has been at the forefront of industry development, ranking fifth in Europe in terms of installed capacity growth. These factors contribute to the increasing interest in investing in photovoltaic farms.
Investing in photovoltaic farms is attractive for several reasons:
> Possibility of long-term (up to 15 years) contract-based energy sales at fixed prices (through auctions or power purchase agreements),
> Long lifespan of installations, lasting even over 30 years,
> With current energy prices on the energy exchanges, return on investment can be achieved in as little as 4-5 years,
> Decreasing costs of components, especially PV panels, and increasing efficiency,
> Extended warranty on equipment, with a guarantee of maintaining 80% of the initial power output after 25 years,
> Low maintenance costs, hassle-free operation, and high reliability,
> Climate and energy policies of the European Union aiming to reduce greenhouse gas emissions by at least 45% by 2030 compared to the 1990 level,
> The energy crisis resulting from the armed conflict in Ukraine, which has accelerated the development of renewable energy sources.