Importance of bankability for market introduction of new PV technologies
Whether a project is bankable or not, depends not only of the project, but depends also on the partners and how the partners are rated. The evaluation sheets and check lists of rating companies and banks have been introduced shortly within this chapter. New technologies with not existing deep experience, like bifacial energy gain, cannot get rated all its upside potential. For new technology a sound cooperation between technicians, project developers, engineers for simulation and banks are very important in order to make such a project feasible from the financing point of view. At the time of writing of the present book, bifacial system has a small market share and the value chain is not yet fully developed: energy yield simulation, demonstration plants and technical descriptions are not yet at a mature stage or no relevant track record exists. In the near future, bifacial PV systems are expected to gain more market share and, with improving track record, the technological risk perceived by banks and rating companies is expected to approach more and more the rating of comparable standard (monofacial) PV systems. The market is moving away from protected schemes like FiT to the common energy market. In the fierce competition, every financial and technical advantage plays an important role. Bifacial PV technology has some very strong advantages. It is sure that this technology will come in focus in the very next years.
Importance of bankability for market introduction of new PV technologies, Page 1 of 2
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