Iran Launches New Financing Initiative for Rooftop Solar Power Plants
In a significant move to bolster the nation’s renewable energy sector, the Iranian government has announced a substantial new loan program for citizens seeking to install rooftop solar power stations.
Expanding Access to Clean Energy
According to Mohsen Tarztalab, the Managing Director of SATBA (the Renewable Energy and Energy Efficiency Organization), individuals applying to establish rooftop power plants with a capacity of 5 kilowatts are now eligible for loans of up to 140 to 150 million tomans. This financial support is being offered at a favorable interest rate of 14 percent to encourage widespread participation.
Public-Private Investment Model
Mr. Tarztalab clarified the investment structure, noting that applicants are required to provide 20 to 25 percent of the total construction cost themselves. This public-private partnership model is designed to share the responsibility of developing the country’s energy infrastructure while making the initiative more accessible to a broader segment of the population.
Ongoing Efforts to Enhance Support
Recognizing the dynamic economic environment, Tarztalab confirmed that there are active requests from applicants to increase the loan ceiling. In response, he stated, “We are striving for banks to provide more facilitation.” He further revealed that negotiations are currently underway with financial institutions to reduce the required collateral from applicants, aiming to streamline the process and make it even more straightforward for citizens to benefit from this national initiative.
This policy underscores the government’s commitment to promoting energy self-sufficiency and diversifying the national energy mix through sustainable and environmentally friendly sources.