The Majlis Joint Commission, a parliamentary body responsible for reviewing the budget bill, on Saturday approved the $500 million government-proposed funding for expanding rooftop photovoltaic systems in the next fiscal (March 2019-20).
According to ISNA, the Central Bank of Iran is obliged to lend 100,000 households in rural areas $5,000 a piece for five years through designated agent banks.
ISNA said the borrowers should repay the debt in installments within five years. The interest rate would be 4%.
The Energy Ministry is in charge of installing the panels and must also guarantee the purchase of electricity from solar plants for 20 years.
March 02, 2019 18:47
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Loans for Rooftop Photovoltaic Systems in Rural Households
The small-scale green energy plans in deprived areas can help contribute to the income of rural households and pave the way for the development of bigger renewable schemes
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