What are the various aspects of responsible banking and what are the challenges faced by banks? In this interview, Aude Payan and Elena Fuzzi, respectively Director and Senior Manager in Risk Consulting and in charge of ESG services for credit institutions at KPMG provide detailed insight and examples for innovative strategies for financial institutions to advance ethical banking standards.
The energy shortage and how to install solar panels on your roof?
What impact does the current energy crisis have on Luxembourg and where is the nation headed in terms of solar energy? We spoke with Sarah Juchems, Head of Energy Advisory at Klima-Agence, who gave us five helpful tips for installing solar panels on our roofs.
Europe is facing a pressing energy and climate challenge due to energy supply requirements and the rising cost of gas and electricity. Consumers are therefore trying to figure out how to swap fossil fuels for renewable energy sources that are clean, cheaper and sustainable.
Klima-Agence is helping them get their projects off the ground effortlessly, whether they involve solar power, setting up home heating systems from renewable energy sources or even switching to electric mobility.
The number of calls received by our hotline and the requests for personal advice through house visits and video calls has risen sharply in line with people's information needs. Most of the time questions involve daily energy savings, solar panels, and energy renovations.
As part of Luxembourg’s Integrated National Energy and Climate Plan (PNEC), the nation aims to increase its share of renewable energy from 11% as of 2020 to 25% by 2030. The share of electricity generated by solar panels would need to reach 1.112 GWh by 2030.
In its report dated 16 June 2022, the Luxembourg Regulatory Institute (ILR) published the following figures for 2021:
-
179 GWh of generated energy fed into the grid,
-
277 MW of cumulative installed capacity with 9.625 solar power stations.
A study conducted by EurObserv'ER showed that in 2021, Luxembourg ranked fourth in Europe in solar power per capita at 453,3 W/inhabitant.
The government is offering a package of support measures: the Klimabonus subsidy programme, to encourage, amongst others, the investment in solar energy. The programme grants favourable rates for electricity sold back to the grid as well as financial aid for going solar. Klimabonus is available to individuals, public authorities, and companies.
Some municipalities and energy providers have special offers on top of this financial aid. Be sure to get in touch with them before starting your project!
You can also estimate your aid from the government, your municipality and your energy provider using the simulator on our platform: aides.klima-agence.lu
To support these measures, Klima-Agence has developed a national solar registry which can be viewed at energie.geoportail.lu . The registry is a tool for planning solar projects and evaluating the solar power potential of each structure. It also offers an initial estimate of the installed capacity that can be achieved with rooftop solar panels.
Your Klima-Agence advisor can help you better understand the various steps required to successfully install solar panels, including:
-
questions on planning,
-
permits, maintenance and
-
tax considerations in case you produce upwards of 10 kWc.
Relying on the sun for energy production has several guaranteed advantages and financial aid can help you.
But first and foremost, you can choose to sell the electricity produced back to the grid or use it yourself:
-
you can get financial aid for 20% of the cost of installing solar panels and choose to:
-
sell all the electricity produced back to the grid and take advantage of favourable sell-back rates that are guaranteed for 15 years,
-
use your electricity yourself.
-
-
you can get financial aid for 50% of the cost of installing solar panels and:
-
use your electricity yourself.
-
sell your electricity back to the grid but waive the guaranteed sell-back rate for the lifetime of the solar panels,
-
-
should you choose to use the electricity you generate, it can be used for all kind of purposes, including home appliances, lighting, electronics, communications, heat pump and even your electric car!
-
you can use your electricity individually or collectively.
-
you can consider creating a renewable energy community – a neighbourhood with multiple structures or consumers comprising one or more solar power stations.
-
The community's users can generate, use, store and sell the electricity produced by their power stations (even at a national level).
-
5 useful tips:
1. Use the simulator on our website at aides.klima-agence.lu to discover the government/municipal subsidies you qualify to receive for your project
2. Check the solar registry to see the solar energy potential of your future photovoltaic installation : e.g. energie.geoportail.lu
3. Receive objective and free advice on planning your project, e.g klima-agence.lu or call (+352) 8002 11 90
4. Get at least three quotes from certified solar panel installers
5. Check to see whether self-consumption or an energy community might be cost-effective alternatives for your specific situation.
About the blog:
There is an urgent need for rapid transition to global sustainability. Business and industry have enormous social and environmental impacts. "Why does it matter?" is a bi-monthly blog that aims to elucidate this important topic through the eyes of our experts.
Don't miss out our experts' practical tips for your daily life and be part of the positive change.