Iran Announces Major Financial Incentive for Rooftop Solar Power Expansion
In a significant move to bolster its renewable energy sector, Iran is offering substantial loans to citizens for the installation of rooftop solar power plants. The initiative, managed by the state-owned SATBA organization (Renewable Energy and Energy Efficiency Organization), represents a key part of the country’s sustainable development strategy.
A Substantial Financial Package
According to Mohsen Tarztalab, the CEO of SATBA, eligible applicants can receive loans of up to 140 to 150 million tomans for installing solar power systems with a capacity of 5 kilowatts. This financial support is designed to make renewable technology more accessible to a wider range of the population.
Favorable Terms to Encourage Adoption
The loan package features a highly competitive interest rate of just 14 percent. Applicants are required to contribute 20 to 25 percent of the total installation cost themselves. This co-investment model ensures shared commitment to the projects while significantly reducing the upfront financial burden on households and businesses.
Ongoing Efforts to Streamline Access
Recognizing the need for continued support, SATBA officials are actively engaged in discussions with banking partners to further streamline the process. “We are negotiating with banks to reduce the required collateral from applicants to make the process even smoother,” stated Mr. Tarztalab. He also noted that efforts are underway to potentially increase the loan ceiling in response to market conditions, demonstrating the program’s adaptability and the government’s commitment to its success.
This initiative underscores a strategic focus on promoting energy self-sufficiency and environmental sustainability through practical, citizen-empowering policies.