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Lithuania turns to solar to stimulate the economy

The Lithuanian Ministry of Energy is turning to solar energy to both address the current economic crisis and give a boost to the country’s use of renewable sources.

A new call for application is under development in order to support the purchase of solar power plants before 2021, thus anticipating the call of almost one year.

“We see that these tools have become very popular, so we have decided to move forward with future calls,” commented the Minister of Energy, Žygimantas Vaičiūnas. “Such a solution will also contribute to stimulating the economy, which is now vital.”

The Ministry plans also to allocate five million euros from the Climate Change Program to reimburse part of the interests for those that cannot afford to install solar power plants at their own expenses.

Early in October, the government approved several auctions to ensure the further development of renewable energy so that Lithuania would achieve the target set in the National Energy Independence Strategy of at least 38 per cent by 2025.

Lithuania is not only boosting the use of renewable in its energy mix, but it is also helping its citizens to save money. In March, the Ministry of Energy presented the solar community, a remote solar energy consumer model launched by the development and investment management company Sun Investment Group.

As reported by the company through McClelland Media, thanks to the solar community project people living in one part of the country would be able to buy and consume solar energy generated geographically elsewhere.

“The world is eager to contribute to clean energy generation,” said Andrius Terskovas, Managing Partner and Chief Business Development Officer of Sun Investment Group. “But eagerness is not enough, we have to act quickly and come up with more efficient solutions. The Lithuanian market was suitable to start our project. Recently Lithuania in pursuit of the European Union energy plans passed amendments stating that everyone had the right to generate and use renewable energy sources from remote solar power plants.”

The solar community will not only help Lithuania move towards climate neutrality, but is also a practical way for citizens to save money.

“An average Lithuanian household needs a 2-3 kilowatts (kW) power solar panel,” Mr Terskovas explained. “So within a year, a household would approximately save 190 euros, around 930 trees, and reduce CO2 emission by 37 tons.”

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