EN 
PT_BR 
For 72% companies in the solar sector, high interest rates and the complexity of the credit approval process are the main bottlenecks for project financing, according to a study carried out by Greener.
“Financing is an important factor in boosting sales. However, as the rates are relatively high, they see the need to improve the entire bureaucratic process for credit approval. It is therefore necessary to always evaluate the best lines of financing”, commented Márcio Takata, director of Greener.
Although lower interest rates are a fundamental factor, simplicity and flexibility in credit approval are relevant factors in leveraging the volume of financing in the sector. According to Bernardo Marangon, director of Exata Energia, to achieve flexibility in approval it is always necessary to differentiate financing for small and large projects.
“Everyone talks about the investment rate but few forget to talk about the guarantees. For example, it is easier to make an investment in the roof of your home from a bank where you already have an account, as, in principle, they may already have approved credit.
On the other hand, it is more difficult to obtain flexibility in approval for a remote generation process. Anyone who is an entrepreneur or legal entity and wants to install a photovoltaic system at the company's headquarters needs to give something in return as a guarantee. It is necessary to have the economic capacity to invest”, explained Bernardo.
The study also pointed out that, although 81% of companies carried out at least one sale transaction with bank financing in 2019, this item was identified as one of the 6 main obstacles to making a sale.
Greener made available a list of the banks most used by companies for financing aimed at installing photovoltaic energy generation systems in Brazil. See below:
Research highlights the five most used banks for financing
Santander
The bank provides credit for the installation of photovoltaic systems with an installment payment of up to 60 installments. Available to individuals and legal entities. The available options are: one installment plus 9 installments (interest free). A down payment plus 23 installments, with an interest rate of 1.10% per month. Finally, the last option is an installment plus 35 installments, with an interest rate of 1.45 per month.
Sicredi
Sicredi has a special line of financing for solar energy for its members, whether they are individuals or companies. The average interest rate is 1.16% per month with a payment term of up to 120 months.
Sicoob
Sicoob offers its members financing for equipment, assembly and installation of photovoltaic solar energy sources. Interest rates vary between 0.95% and 1.10% per month. The entire installment is made in up to 60 months.
BNB
Banco do Nordeste has a specific financing line for micro and mini solar energy generation projects. FNE Sol is available to companies, rural producers, cooperatives and associations in the northeastern states, in addition to the north of Minas Gerais and Espírito Santo. With a payment term of up to 144 months, FNE Sol finances up to 100% of the cost of the work. The interest rate varies between 0.52% and 0.87% per month, depending on the size of the client.
Votorantim Bank
Financing for Energia Solar BV is a line of credit for anyone who wants to install photovoltaic solar panels to capture energy in their own residential or commercial property. Below are the available options: financing is up to 100% of the project (equipment + installation). There are 5 years to pay the financing. The pre-fixed rate starts at 1.48% per month.
Rural producer financing
Interest rates were maintained at levels that allow support for rural producers. In the case of funding, marketing and industrialization, it will be 3% and 4.6% per year for small producers (Pronaf), 6% for medium producers (Pronamp) and 8% for other producers. In investment programs, rates will vary from 3% to 10.5% per year.
According to a survey by ABSOLAR (Brazilian Photovoltaic Solar Energy Association), investments in distributed solar generation on rural properties already exceed R$ 1.2 billion in Brazil. Currently, rural producers represent 8.7% of the installed power in DG.
The research also points out that, in total, there are already more than R$ 11.9 billion in investments accumulated since 2012 in distributed solar photovoltaic generation, spread across the five national regions. As a result, solar technology is present in more than 79.9% of Brazilian municipalities.
