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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
Loans for Rooftop Photovoltaic Systems in Rural HouseholdsLoans for Rooftop Photovoltaic Systems in Rural Households

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.

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