Energy as a Business Tool: Ksenia Kovalenko on the Payback of Solar Power Plants and Storage Systems Financed by Credit

01.10.2025

On September 25, the “Resilience and Transformation: Balancing Ukraine’s Energy System in a New Reality” forum, organized by Energy Club, took place in Kyiv. It was a frank professional conversation about the future of the country’s energy system. Among the speakers on the first panel was Ksenia Kovalenko, Head of the Credit Department at Rayton, who shared her experience and practical case studies on financing solar power plants (SPPs) and energy storage systems (ESS).

From “Blackout Insurance” to a Business Asset

Ksenia emphasized that investment projects in alternative energy are becoming increasingly sought after. Businesses now view SPPs and storage systems not just as a backup power source but as an effective business tool. “This is not just an alternative power supply. It is an opportunity to both save and earn,” she stressed.

Specific Payback Figures

According to her, the average payback period for these projects is about 3–3.5 years. Furthermore, a business can start saving from the very first day the station is operational—even without a down payment, as banks now offer loan programs with zero percent initial payment.

Example:

• A company builds a 150 kW rooftop SPP on credit.
• The annual savings amount to over 1 million UAH.
• The payback period is just over 3 years, but without freezing the company’s own funds.

Another case study: An industrial SPP with a capacity of 1766 kW, costing $758,000. Its projected annual generation is 1859 MWh, which translates to $1.5 million in savings. With a monthly loan payment of 518,000 UAH, the company gains a net benefit of about 1 million UAH per month.

Storage Systems: Fast Payback and New Logic

Rayton has also developed its own energy storage solution. While battery systems previously had a payback period of 7 years, this term has now been reduced to 2–3 years. The reason for this is a changing market and new business models for their use.

Ksenia Kovalenko explained:

• Systems can be used not only for emergency power but also for tariff arbitrage—charging when electricity is cheap and using or selling it when it is more expensive.
• The combination of an SPP + ESS allows businesses to fully control their own expenses and turn energy into an additional source of income.

Rayton’s first commercial case involved an energy storage installation for a fruit and vegetable processing company. Its payback period was 3 years, achieved by using the system as a business project rather than just a backup source.

Financial Instruments and Support

Rayton has partnership programs with leading banks and also collaborates with international institutions. Notably, the company’s equipment is on the list of technologies supported by the EBRD, enabling clients to receive grants of at least 10% of the project’s value.

Additionally, the company assists with:

• Customs clearance for equipment.
• Support with the registration of property rights.
• Insurance against military risks (averaging up to 4% depending on the region).

Practical Experience and Scale

Over 5 years in the market, Rayton has implemented projects with a total capacity of 96 MW, which has allowed its clients to save over 400 million UAH. As of May 2025, 15,931 kW of SPP capacity has already been financed through banks.

Ksenia Kovalenko concluded that now is the time to invest in self-generation—electricity tariffs are rising, and it is more profitable for businesses to invest in autonomous solutions than to pay bills. The government and international organizations are already creating favorable conditions for financing such projects. SPPs and storage systems are no longer expenses but assets that allow companies to optimize costs, reduce risks, and generate revenue.

“We build energy for business not with words, but with numbers. And these numbers prove: the future belongs to autonomous solutions and smart financing,” the expert summarized.