Ukrainians may take out a 0% loan for home solar and wind power plants

The government has developed and is implementing a package of solutions and financial programs that will help stimulate the development of distributed generation to ensure Ukraine’s own energy independence, local generation needs and, in general, Ukraine’s energy security.

This is stated in the message of the Ministry of Energy of Ukraine.

In particular, a 0% loan program is now available for individuals to purchase generating plants that produce electricity from alternative sources.

Anyone who wants to purchase solar panels with energy storage systems or wind turbines can get a loan under which the state fully compensates the interest rate during the loan period. The loan amount is up to UAH 480 thousand.

The loan term is 10 years. To obtain a loan, you can apply to Privatbank, Oschadbank, Ukrgasbank, Sens Bank, and Globus Bank. The number of partner banks in the program will increase, and the Entrepreneurship Development Fund is currently working on this.

Under the Affordable Loans 5-7-9 program, condominiums and housing cooperatives can receive a loan of up to UAH 5 million for up to 5 years at 7% per annum. These funds can be used to purchase and install solar panels, inverters, energy storage systems, and other auxiliary equipment.

To take advantage of the program, you need to apply to one of the 46 banks that cooperate with the government under the Affordable Loans 5-7-9 program. In particular, Oschadbank, Vostok Bank, Privatbank, Sens Bank, Ukrgasbank, Globus, and Sky Bank are already working on providing such loans.

This loan program can be used in conjunction with the Grindium program, launched in May this year, under which the state compensates up to 70% of the cost of solar power plant equipment and/or heat pumps purchased by condominiums and housing cooperatives. The maximum amount of compensation is up to UAH 1 million for the installation of a solar power plant, up to UAH 2 million for the installation of heat pumps, and up to UAH 3 million if a solar power plant and a heat pump are installed simultaneously. To participate in the GRIDIM program, you need to contact the Energy Efficiency Fund.

Also, under the Affordable Loans 5-7-9 program, entrepreneurs and businesses can purchase and install gas turbine, gas piston, or biogas generating units. The maximum loan amount is up to UAH 150 million and the loan term is up to 10 years.

For companies planning to develop their own generation worth more than UAH 150 million, offers are available from 19 of Ukraine’s largest banks, which provide preferential lending for the implementation of energy infrastructure restoration projects. The loan amount can be up to EUR 25 million. The term is up to 5-7 years, the base interest rate for loans in national currency is 13.5% per annum for the first year or UIRD3M + 0.5% starting from the second year – floating, but not more.

Thanks to these government loan programs, owners of private houses and residents of apartment buildings will be able to equip autonomous energy sources, and businesses will be able to implement energy projects of varying complexity to provide themselves with their own source of generation and stable operation.

In addition, the government has simplified the regulation of construction, connection to gas, heat, and electricity grids for small generation facilities. From now on, this can be done faster and with a minimum package of documents.