Thailand's Ministry of Finance announced financing measures to support the government's household solar program, including loans at 2.5% a year for households facing financial constraints and credit support for installation businesses. Government Savings Bank, Government Housing Bank and the Bank for Agriculture and Agricultural Cooperatives will provide the financing. The household loans support a government program providing THB 50,000 per household for solar equipment and installation, covering 1 million households within a THB 50 billion funding framework. Households can reduce electricity bills by using the power generated during daylight hours and sell surplus electricity to utilities under the program's rules. The ministry estimates that the participating homes could collectively provide 5,000 megawatts of clean power. For businesses expanding to meet installation demand, the three banks are also providing loans and reducing bank guarantee fees to THB 350–500. These guarantees secure completion of installations within the required timeframe.
Thailand's Ministry of Finance announces 2.5% solar loans to support 1 million households
Thailand's Ministry of Finance announced household solar loans at 2.5% a year through three state financial institutions, alongside financing for installation businesses. The loans support a government program allocating THB 50 billion to provide THB 50,000 each to 1 million households for equipment and installation, with surplus electricity eligible for sale under program rules. The banks are also reducing installation completion guarantee fees to THB 350–500.