Solar energy has seen a surge in popularity in Georgia over the past two years, according to Tornike Dardjania, founder of Helios Energy. He said that demand for renewable energy sources has increased dramatically, and the technology has become widely available. Previously, the company held about 40% of the market, but now, despite increasing installed capacity to 30 MW last year, its share has decreased due to the emergence of many new players and high demand.
Dardjania noted that a few years ago, solar power plants were expensive, but today their installation pays off in just three years. The technology has become accessible to both individuals and businesses, and the drop in panel prices has made investments particularly attractive. He compared the profitability of solar power plants with other types of capital, emphasizing that approximately 33% profitability is rare even in the energy sector.
Solar energy is most often implemented by enterprises, since the electricity tariff for businesses is higher than for the population. Thanks to subsidies and lower equipment costs, the installation of solar systems becomes financially beneficial and stimulates the further spread of renewable energy in Georgia. According to Dardjania, the trend towards increasing popularity will continue in the coming years.
