The solar market will come back strong from COVID-19, and here is why

June 18, 2020

For the past two months many of us have experienced restriction on movement due to Corona virus. Luckily here in Germany, restaurants are slowly opening again, businesses are allowing their employees to work from the office and things seems to go back to normal. Politically, the question remains; what happens after? How can we learn from this recession and quickly recreate jobs, revamp the economy while creating a society that is more local and sustainable? For some, the epidemic is a reason to excel the implementation of renewable energies.

Clean energies’ steadiness makes an attractive investment

As the oil and gas industry prices have fallen drastically, it is easier for consumers to choose cheaper and dirtier alternatives for quick wins. Oil is, and has always been a volatile commodity, which makes it unpredictable and expensive over longer periods. While the oil industry is struggling, many of the European countries have reached impressive shares of renewable sourced electricity in the grid. Ensuring local energy production is, more than ever, a strong argument for investing in renewable energies. Especially so for individuals who want to be insensitive to fluctuating prices.

Analyst Dan Shreve, head of global wind energy research argues that clean energy’s steadiness compared to oil companies, makes it attractive for investors. Homeowners and small businesses who find it more difficult to invest in costly upgrades, such as solar arrays, still might consider investing as it will, in the long run, generate substantial savings. He thereby concludes that “Folks looking for a safe haven in a very turbulent market may continue to turn to the renewable energy sector,”.

Taking the time to strengthen partnerships during the epidemic

The solar energy market has had a slowdown during the epidemic. 2020 was predicted to be the boom year for renewable energies but have had to slow down instead of increasing the commissioning and completion of projects. The experience from Mounting Systems point of view is that the solar market in Europe has stayed strong during the epidemic. Some customers and companies in the sector have been affected but overall, very few of our customers are experiencing a crisis. We can already see that the market is picking up again.

Mounting Systems has used the Corona epidemic to its advantage. We have strengthened our partnerships and are launching our collaboration with UK based SRS Works Distribution this June. Together we will be a key partnership to supply PV-solutions for all public projects in the UK. We are building up similar collaborations in other countries and anticipate that if 2020 won’t be the boom for the solar industry, 2021 will be.

Check our career page if you would like to join our journey, and follow us on LinkedIn, Instagram and Facebook to be updated on our work with SRS Works and our other partners around Europe.

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