Iran Launches New Financing Initiative for Rooftop Solar Power Plants
In a significant move to bolster its renewable energy sector, Iran has opened registration for a new financial support program aimed at citizens investing in small-scale solar power.
Expanding Access to Clean Energy
The program, managed by the Renewable Energy and Energy Efficiency Organization (SATBA), offers loans of up to 140 to 150 million Tomans for the installation of rooftop solar power stations with a capacity of 5 kilowatts. This initiative is designed to make sustainable energy solutions more accessible to a broader segment of the population.
Favorable Financial Terms
According to Mohsen Tarztalab, the CEO of SATBA, the loans will be provided with a favorable interest rate of 14 percent. He clarified that 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.
Streamlining the Process
In efforts to further facilitate public participation, officials are actively engaged in negotiations with banking partners. The goal is to streamline the application process by reducing collateral requirements, thereby making it easier for qualified individuals to access this financial support. This move is part of a broader governmental strategy to encourage domestic renewable energy production and enhance energy efficiency across the nation.
