The photovoltaic system for self-consumption will allow for the production of around 78% of the energy consumed locally, accounting for total energy savings of around 22,52 MWh/year. This corresponds to avoiding the emission of 6 tonnes of CO2 to the atmosphere every year or planting 275 trees. Moreover, this will allow the institution to invest the savings in improving its social care services. For example, finishing the construction of the Day Care Centre that will support the elderly.
Landal Community Development Centre (Centro de Desenvolvimento Comunitário do Landal - CDCL) is a charity focused on local development in the centre of Portugal. Their activities cover a nursing home for elderly people, home support, a social shop, professional training and a rural museum targeted at the whole Landal Parish and its surrounding population.
Their aim with this campaign is expand the institution’s self-consumption capacity, by financing the installation of solar panels with 13,4kWp of power. With an estimated annual production of 22,52 MWh, the photovoltaic plant will allow for significant energy savings in comparison with the current consumption. This will make the charity 78% self-sufficient in terms of energy.
This is the second solar energy project for CDCL, coming after the successful financing of the first one, which aimed to finance a 10 kWp capacity PV plant for self-consumption and an LED lighting system. The amount was also raised through GoParity - 24.000,00€ raised in only in one day.
The combination of high electricity costs and with solar power becoming less and less expensive, the better the business case for producing electricity for self-consumption, especially in regions with high sun exposure.
The electricity produced for self-consumption will generate yearly savings of 3.662€, whilst the financial cost of the loan is 3.772€. Considering the initial investment of 18.000€, the payback period is 5,1 years and the internal interest rate (IRR) is 26,45%. It was the promoter’s decision to have a higher cost of capital when compared to the yearly saving, given the fact that they are a solid institution with stable accounts, showing profitability in the previous years.
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