In an increasingly volatile international landscape, where no one is too sure where the next curveball is coming from, renewable energy is once again attracting interest for its dependability. Whoswho.mt sat down with Martin De Bono, Founder and CEO of Power Solutions, to discuss how relevant it still is to invest in renewable energy, and how new developments are making the field even more exciting, looking ahead.

Mr De Bono is a pioneer in renewable energy locally, as he was one of the first to commit to promoting the then-new energy source. “Initially, when we started dipping our toes into the world of energy efficiency, it was more out of necessity since energy costs had started to climb consistently, and consumers were actively looking for alternative solutions,” he recalls.

With a solid background in IT, Mr De Bono had more than a working understanding of energy-saving systems. However, he sought to deepen his knowledge in the US, learning more about the trade and getting exposed to the latest tech on the market. “By 2004, I took the plunge and teamed up with my brother, launching a completely new offshoot of our old family business.”

Sidenote on the heritage: Martin, his brother Daniel, and Daniel's son Miguel are the current generation running Ciancio (1913) – one of the most iconic brands in Malta, as well as one of the longest running firms on the island. “With shifting trends, the family business felt the need to diversify from photography exclusively and enter new territories. My newfound interest in energy efficiency and renewable energy was the perfect opportunity, and we never looked back. The family business still runs Photociancio, a high quality photo printing and photo album printing service."

Power Solutions started off providing applied advisory to clients on power savings, working with factories, hotels, and other large-scale enterprises to significantly reduce costs. "In some cases, we helped them save more than €60,000 annually simply by shifting consumption habits and guiding them to invest in better tech,” Mr De Bono recalls.

“All energy systems are driven by some form of IT. It has always been like that, and in today’s world, it is increasingly so,” Mr De Bono explains, noting that his shift to renewables felt like a natural progression.

Indeed, with the economic crisis of the late 2000s, he was quick to adapt, pivoting to renewable energy as it became increasingly relevant. Recognising the growing potential of solar power and heat pump technology, Mr De Bono and his team transitioned to offering photovoltaic systems, heat pumps, and other energy-saving solutions, complete with a comprehensive suite of support services. Today, the company’s core business revolves around domestic PV installations, as well as large-scale commercial PV projects, positioning them as market leaders in renewable energy.

Bringing the conversation into current times, Mr De Bono is eager to shed light on the remarkable developments in the renewable energy sector, as artificial intelligence (AI) and the Internet of Things (IoT) are transforming the entire energy efficiency ecosystem.

“We are proud to be at the forefront of this exciting revolution, offering AI-driven systems that analyse weather forecasts and household energy consumption to optimise usage. For instance, our system advises when it’s best to charge your electric car,” he notes enthusiastically.

One feature that sounds like something out of science fiction is the ability to use your fully charged car as a power source during a blackout. “Today, energy management is so advanced that it offers us endless opportunities. For example, if your home is hit by a power cut, your fully charged car can even supply electricity back to your house, allowing you to power essential appliances and maintain some level of comfort,” he shares.

Through advanced monitoring systems, customers gain full visibility into their household’s energy consumption. This allows the service provider to diagnose and resolve issues remotely, ensuring optimal performance and efficiency.

This development feeds perfectly into a veritable revival being experienced by Power Solutions, whereby the market is seeking to grow more efficient in its energy consumption.  “With the advent of ESG requirements we have noticed a significant rise in demand to advisory services related to energy efficiency. This fits perfectly within the larger scope of Power Solutions, as we are more than glad to guide customers, private individuals as well as businesses, get clever with their energy usage."

Beyond residential set-ups, Power Solutions actively invests in large-scale PV systems, which serve to offset the country’s carbon footprint.

Meanwhile, Government grants and feed-in tariffs have played a crucial role in expanding the adoption of solar energy in Malta. Since their introduction, these grants have made it more affordable for average households to invest in PV systems and battery storage.

“Given Malta’s advanced growth rate and population increase, which has accentuated overall electricity demand, these incentives remain vital to driving Malta towards a more sustainable energy future,” Mr De Bono argues. “We are pleased to see that these grants have grown and become more robust over the years, making it a very enticing proposition to invest in such systems.

“While some regulations already require refurbishments to include some sort of renewables, I believe that all new buildings should eventually be mandated to incorporate all the different types of technologies available to reduce, conserve and generate energy,” Mr De Bono adds. “Exciting innovations, such as glass panes that generate electricity, could revolutionise how energy is harnessed in urban environments, making our homes more efficient and helping us reach national renewable energy targets.

“Renewable energy isn’t just a trend; it is a necessity, and with the grants available, there has never been a better time to invest," Mr De Bono concludes.