Coronavirus starting from Wuhan, China quickly made its way to other countries as well, and within months the whole world was facing an unprecedented threat. Without any medication or vaccines in hand, the counter strategy every country adopted was to enforce lockdown. Where it was necessary to ensure the health and safety of the people, the business saw a substantial decline. In the same way, the solar industry experienced a similar descent because of many reasons like supply chain breakage.
Researchers make their projections based on various mathematical deductions, but the unexpected occurrence and impact of Covid-19 on the solar market was not a part of any equation. The predictions suggested a massive yearly increase in solar installations, but due to the coronavirus situation, the application on requests for installations saw many challenges and created many delays.
Impact of COVID-19 on Solar market
The effects Covid-19 had on the solar market includes various factors such as manufacturing halt, breaks in the supply chain, delays in projects, lack of financial ability to go solar, and communication issues with the clients. A detailed overview of these are as following:
The lockdown enforced to keep the virus from spreading made the factories stop, and because of the halt in their operations, the manufacturing of solar equipment came to a stop. It not only created a shortage of supply of devices but also led to many other problems occurring in the consequences. It can be said to be the first nail in the coffin.
Supply Chain Breakage
Most of the equipment used in the solar industry, including solar inverters, solar panels, and other machinery comes from China. Because of the strict lockdown in place, not only the solar industry suffered from a lack of supply, but every business faced a shortage in one or another way. This break in the supply chain grievously affected the companies who did not have stock available. Comparatively, Premier Energy because of the stocked up apparatuses managed to complete several projects without having availability issues. If anything got short, the good relations with international brands helped us gain the required devices amidst the pandemic.
One of the principal consequences of the above two was a delay in projects, as many factors were contributing to the late installation. Lack of supplies is one of the main reasons leading to delays. Another reason was to ensure that the project could proceed with minimum interaction with the client and between the workers. It was necessary to provide them with safety equipment, ensuring the use of masks, sanitizers, and implementation of social distancing. It also got hard to find construction labor, masons because of the pandemic as only a small contingent of the workforce could be available. Despite all the reasons, we kept on working on our projects with all the precautionary measures in place. The 4 MW solar power plant that was under installation saw a few minor delays even after the team worked round the clock because of the lockdown and the effects related to it.
Lack Of Customer’s Financial Ability
During the stay at home phase of lockdown and everything coming to a close, people faced many financial issues, and the first and foremost thing on everybody’s mind was to somehow get by this phase. In this situation, it was almost impossible for people to think about spending money on any other thing than their requirements for food, medicine, and clothing. Premier Energy helped the brave hearts still wanting to switch to solar because of the undeniable benefits they can enjoy right away by assisting them in getting solar financing under SBP’s solar refinancing scheme. We also made it easy for the customers whose projects were under installation by giving them extension and the option to pay in installments.
Because of the social distancing and Covid-19 situation, there was a lack of communication between the clients and the companies. Team Premier conducted zoom meetings and calls to ensure our customers about the eventual installation of their systems and always remained available to listen to their issues while working from home.
While the Coronavirus negatively affected the solar market, the public showed a very positive response realizing the importance of renewable energy, especially solar energy on the environment. Switching to solar energy can help fight a greater threat than covid-19, which is Environmental Degradation. The overall inclination of the community towards the significance of utilizing alternate energy methods only got stronger if anything happened.
Premier Energy has always been a trusted solar solutions provider, as well as a keen learner. We have learned from our experience of the past lockdown on how to manage the situation better. The government may enforce another lockdown because of the second wave of the Covid-19, however, Premier Energy has made arrangements to tackle such situations by having stock to complete all the projects in time and has also arranged better than ever safety measures for the labor and team. We know that we are working to tackle a bigger threat than Covid-19, which is the deteriorating condition of the environment. As frontline soldiers, we and our team know our responsibility and would help everyone wanting to become a member of the Green Brigade and fight to protect the environment. With Premier’s Solar Solutions, you can save the Earth while saving your money.
For any further information or discussion, you can contact our solar consultants through any of the channels listed on our website.
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