The Government of Nepal recently announced a new policy for subsidizing renewable energy for commercial and residential customers. This new policy is aimed at incentivizing accountability and long-term performance, ensuring that renewable energy systems are reliable investments in Nepal.
Under the new program, the government is subsidizing interest rates on bank loans made through seven local banks. There are two types of subsidies:
· Commercial projects (greater than 1.5 kW) = subsidy interest rates of 4.5%
· Residential projects (smaller than 1.5 kW) = subsidy interest rates of 2.5%
Under this program, customers pay for solar in affordable installations over several years, without accruing high interest burdens during the payment period. With the upfront cost of solar broken into affordable payments, solar payments are now on par or less expensive than a business would spend on diesel fuel.
SunFarmer Nepal welcomes this step from the Government. Our company pioneered the Power Purchasing Agreement (PPA) for solar in Nepal, which enabled customers to pay for in quarterly installments. Ongoing payments hold installers accountable for energy generation - we ensure performance with dedicated maintenance support.
Contact firstname.lastname@example.org to learn how this new subsidy policy can benefit you.