Dutch solar panel companies bankrupt due to dismantling of net metering scheme

Troostwijk notes the doubling of auctions due to bankruptcies in the solar market

The Dutch solar energy market is at a turning point. The Senate's decision to abolish the net metering scheme by 2027 has caused a chain reaction that radically changes the sector. As a result, Troostwijk Auctions is seeing a rising number of auctions due to bankruptcies among solar panel companies and a remarkable shift in the destination of surplus solar panels.

The net-metering scheme allowed private solar panel owners to offset the electricity they generated against their consumption, resulting in attractive financial benefits. However, the scheme's announced end in 2027, combined with falling energy prices and a saturated market, drastically reduced demand for solar panels among private individuals. By 2024, the Dutch market saw a decline of more than 50% in sales to private individuals, the lowest level in a decade.

A wave of bankruptcies
This decline has led to a wave of bankruptcies in the sector. Official figures for the whole of 2024 are lacking, but at least more than 70 companies went bankrupt last year, including prominent names such as BonGo Solar, Novavolt and Koolen Industries Solar. Troostwijk Auctions also saw this development reflected in the Netherlands with a significant increase in the number of auctions of bankrupt solar panel companies.

Whereas in 2023 there were still 15 companies, there were 31 in 2024. A more than doubling, in other words. Meanwhile, in Q1 of this year, the counter already stands at 10 cases. Troostwijk expects the number to rise to above 40 auctions by bankrupt companies this year. These auctions include not only solar panels, but also inverters, installation materials and commercial vehicles. A recent example is the auction of the inventory of bankrupt Solarclarity, in which various solar panels and inverters were offered.

Voluntary quitting is also a choice
There are also auctions set up by voluntarily quitting entrepreneurs. They no longer see any future prospects due to the decreased demand for solar panels. The advantage of making this choice early and voluntarily is that you have more control over the settlement of inventory and stocks. In a bankruptcy, a trustee takes over and decides how your inventory and stocks will be sold, often at low prices.

New uses for surplus solar panels
One notable trend is the destination of auctioned solar panels. Whereas previously domestic buyers dominated, Troostwijk Auctions now sees a shift towards foreign parties, especially from Eastern Europe. Countries such as Poland and Romania are showing a growing interest in this equipment, indicating that the demand for solar solutions is increasing there.

The benefits of auctioning
Auctioning surplus assets through Troostwijk Auctions offers several advantages. The international network ensures a wide range of potential buyers from more than 175 countries, increasing the chances of a successful sale. The auction process is transparent and efficient, with clear agreements and support throughout. In addition, Troostwijk Auctions offers an accessible digital auction platform that optimally connects supply and demand both locally and globally, giving goods a second life and accelerating the circular economy.