The Management of Cres SIA is experienced in business. The Company has established a cooperation with solar panel installation companies and found clients that are eager to increase share of renewable energy within its consumption.
The share of solar energy is rising due to rising electricity prices and decrease in pay-off for initial installation costs.
We evaluate the Company with a grade B - despite the fact that the Company does not have an excellent historical financial health ratios, experience of management and Company's track record of operations compensates it. Furthermore, the Company has successfully returned previous investments received trough BOLDYIELD platform.
We believe that the company is capable of receiving financial aid and would be able to repay principal and interest according to the schedule
- Low maintenance costs, so in the long-run the total cost would be lower than other sources of energy
- Solar panels does not require much attention and maintenance, so are easy to use and harvest energy
- Installed solar panels increase property value
- Using clean energy source improves company's image
- Newest solar panels are efficient and usage of solar panels pay off
- Careful research and planning is required to achieve the most effective result and to avoid unpredicted situations
- Year after year, the weather in Latvia gets warmer and sunny days increases that makes solar panels more reasonable.
- Use of solar energy is a way to combat rising electricity costs
- Chance to get Government's support for using renewable energy in the future
- Increasing concerns in using fossil fuels and nuclear energy favors the progress of increased popularity of solar energy and people's attitude towards it
- Rapid development of tehnologies leads to an improved efficiency and cost reduction
- If the solar energy circle is conjunct with the grid, the excess of energy could be sold to other market participants
- Although the Solar energy is considered as a clean energy source, it has its carbon footprint (source materials, production, transportation, disposal)
|Since it was established in 2013, the Company's turnover did not exceed EUR 40 thousand and until the end of 2020 was registered as microenterprise in Latvia. At the end of 2020 the Company had 5 employees that is considered as the biggest asset.|
|The electricity and energy in general is an integral part of civilised society. The main resources of energy production are non-renewable resources and as a result air pollution increases. Air pollution is considered as the biggest environmental health risk in Europe and it also damages vegetation and ecosystems. Due to this there are several measures accepted in the EU to decrease the air pollution. One of the measures include transition from non-renewable to renewable energy sources. It includes transition to wind and solar energy.|
|Renewable energy continued its blistering growth pace in 2019, globally increasing by 12.2% over 2018. Over the past decade, renewable energy consumption has grown at an average annual rate of 13.7%. The renewable power accounts for 86% of all renewable energy consumption of which wind (51%) and solar (26%) accounted for most of the consumption. (1)
Directive of Clean energy for all Europeans package includes a target of at least 32% of renewable energy by 2030.
|Similar as in the rest of the world (graph 1), the use of solar energy in Latvia (Graph 2) continues to grow. Main reasons for the rapid growth of solar energy production and consumption is that the cost of solar has fallen dramatically (graph 3); new technologies promise to increase efficiency and lower costs further; people are becoming more informed and concerned about sustainable living. It is clear that the future of the renewable energy will also be affected by Europe's Commission’s proposal to cut greenhouse gas emissions by at least 55% by 2030, that sets Europe on a responsible path to becoming climate neutral by 2050. (2)|