Iran Unveils Major Financing Initiative for Rooftop Solar Power Expansion
In a significant move to bolster the nation’s renewable energy sector, Iran is offering substantial financial support to citizens and businesses for the installation of rooftop solar power stations. The initiative, managed by the Renewable Energy and Energy Efficiency Organization (SATBA), aims to make sustainable energy solutions more accessible and affordable.
Subsidized Loans for Solar Projects
Mohsen Tarztalab, the Managing Director of SATBA, has announced a comprehensive loan program for applicants seeking to establish rooftop power plants with a capacity of 5 kilowatts. Successful applicants can receive a loan of up to 140 to 150 million Tomans. A key feature of this financial package is its highly favorable interest rate, set at just 14 percent, which is designed to ease the economic burden on participants and encourage widespread adoption of clean energy technology.
Investment Partnership and Future Goals
Mr. Tarztalab clarified that applicants are required to contribute 20 to 25 percent of the total construction cost as a personal investment. This public-private partnership model ensures shared commitment to the projects. He also noted that, in light of recent economic conditions, there have been requests to increase the loan ceiling. In response, SATBA is actively engaged in negotiations with partner banks to facilitate more flexible and supportive financing terms.
A primary objective of these negotiations is to reduce the collateral requirements demanded by banks from applicants. This effort is expected to streamline the application process and remove significant barriers to entry, thereby accelerating the deployment of solar energy systems across the country. This policy reflects a dedicated national strategy to promote energy self-sufficiency and environmental sustainability.