ABN AMRO makes it easier for businesses to buy solar panels

Since the beginning of the year, every office building in the Netherlands is required to have at least an energy label C. In addition to insulation, solar panels represent a major step towards ensuring that business premises are more energy-efficient. Solar panels, most would agree, seem like a no-brainer, especially in times of rising energy prices, given that solar energy is sustainable and inexpensive.

Solar panel headaches

However, a number of interviews ABN AMRO recently conducted with business clients revealed that solar panels can actually result in a surprising number of headaches for entrepreneurs. Where to begin? Is the roof suitable? How many panels are actually needed? What will the investment cost, and which grants and schemes are out there?

“One particular point kept coming up in our conversations with clients about sustainability: the energy bill,” says Floris ten Duis, who works for ABN AMRO’s Solar Panels for Businesses service. “That’s when the conversation usually turns to solar panels and the challenges they involve.”

“We’re all aware of the benefits of solar panels, but it’s not always so straightforward when it comes to the business case,” says Wouter Roozen, who also works for the service. “Every business is different, and so is the maths. A client can be anything from a local dental practice to a corporate player in an energy-intensive sector. Plus it’s not always clear to business owners where to turn to get the process started.”

Solar Panels for Businesses

In 2022, the bank launched its Solar Panels for Businesses service, which links businesses and partners specialising in solar panel installation, subsidies and insurance. ABN AMRO is also helping business owners secure the necessary financing. An investment in solar panels starts in the tens of thousands of euros for SMEs, but can quickly run into the hundreds of thousands, peaking in the millions for companies with multiple large-scale buildings.

Since the launch last year, twenty-five businesses have availed themselves of the service. One of these is Phact, a company based in Venray. “Rising energy prices put enormous pressure on us to start doing things differently,” says owner Marc Herruer in an ABN AMRO video. Meanwhile, his company’s roof has been fully fitted out with solar panels.

Floris says businesses have much to gain: “One client told us that their energy bill has since been halved. Obviously, that’s money they can now put towards innovation or making their business even more sustainable.”

Sourcing solar panels

ABN AMRO is currently working with two Dutch solar panel specialists – Zonnestroom and Soly. Both let clients choose where their panels are sourced from, a deliberate strategy, says Wouter: “The global solar panel market is complex. Unfortunately, it’s not very transparent either. Many raw materials are extracted in regions where human rights violations allegedly occur. Obviously, that’s something ABN AMRO is concerned about. But it’s also why we’re in constant dialogue with our partners about this issue. We intend to work with them to ensure greater transparency and to find alternatives. Additionally, we look at which suppliers manufacturers are working with and require that our partners comply with our Supplier Code of Conduct. The client is provided with information on the origin of the panels and can make a choice on that basis.”

No two roofs are alike

Although the Solar Panels for Businesses service is still in its infancy, the bank anticipates making life easier for many more businesses in the years to come. After all, the service is obviously meeting a real need. Floris says, “Not only is every business different, but no two roofs are alike either. Sometimes it’s unclear whether a particular roof will be strong enough. There can also be challenges involving fire safety. Perhaps the roof is outdated or contains asbestos. In any case, it’s important that business owners know where they stand as quickly as possible.”

Speed is certainly one of the advantages the bank and its partners offer them. Wouter says, “The client receives a quote within two weeks of the initial interview. Once we’ve reached an agreement, the panels can usually be installed within three months. That means that as we work with our partners on the timetable, subsidies and insurance, the client can continue to focus on their core business.”

Together with the rest of their team, Wouter and Floris are working to expand their service offering to include insulation, energy labels, heat pumps and more: “The good news is there are so many opportunities to become more sustainable. We’re pleased that ABN AMRO is helping to accelerate the energy transition in such an impactful way.”

Interested? Email vastgoed.verduurzamen@nl.abnamro.com.