Dear Photovoltaic Enthusiasts,
At this time last year, we predicted market acceleration driven by a reduction in administrative burdens and a decrease in panel prices, which we expected to persist for several consecutive years. We also anticipated substantial growth in the Czech market, including a boom in the construction of large-scale, ground-mounted solar parks.
We were partially correct, especially in the international context. Panel prices indeed supported the construction of previously planned solar plants, and there was some easing of administrative burdens. However, preliminary data from across Europe indicate a slower pace than anticipated: while the market continues to grow, it has expanded "only" by approximately 10%, with net additions reaching 65.5 GW per year.
There was also a notable shift toward larger installations, as the residential installation segment faced a real downturn, leading to bankruptcies and layoffs. Since Greenbuddies focuses on plants ranging from 150 kW to 100 MW, we experienced growth slightly above the market average. On the other hand, the Czech residential market was hit hard, and large-scale plants have yet to gain momentum, resulting in no overall growth domestically.
Predicting 2025 is challenging. The change in the U.S. administration will undoubtedly influence renewable industries worldwide. Our perspective is cautiously optimistic: we believe that a significant influx of panels originally intended for the U.S. market may eventually reach European markets at lower prices. However, it remains uncertain to what extent potential rollbacks of renewable policies in the U.S. might impact EU policies.
That said, we remain positive, as our pipeline for this year is filled with exciting projects. Beyond our standard offerings, we have expanded into delivering EPC (Engineering, Procurement, and Construction) services for PV and BESS (battery energy storage systems) in the Czech Republic and Germany. In Germany, our focus lies primarily on projects ranging from 5 MW to 15 MW. Meanwhile, in the Czech Republic, we have commenced the EPC delivery of a 43 MWp PV plant with BESS, currently the largest PV project under active construction in our home market.
From the fourth quarter of last year, I’d like to highlight two significant Greenbuddies PV projects in CZ. First, we delivered our inaugural carport solution in the country — a small pilot project. Given the interest among corporate clients in installing panels over parking lots, I am proud to have this reference installation as an example. Second, we closed a 5.3 MW project featuring partially tracker-based technology. This is a pioneering effort in a market with limited experience in tracker solutions.
On the international front, our projects in Ireland are progressing well, and we see the Irish market as highly promising for further expansion. Additionally, we successfully completed projects in Belgium and Germany during the last quarter.
Thank you for your continued interest in photovoltaics and your support of our work!
Yours sincerely,
Aleš Spáčil
Chief Sales Buddy
