The Cabinet of Ministers has improved the mechanism for lending to households for the installation of solar and wind power plants
At the request of the Ministry of Energy, the Cabinet of Ministers of Ukraine improved the mechanism for providing state support to citizens who install generation plants for electricity production from alternative sources in their households. Corresponding amendments were made to the Resolution of the Cabinet of Ministers of Ukraine dated June 7, 2024 No. 673.
“The preferential lending program for the purchase and installation of hybrid power supply systems launched by the government last year has gained considerable popularity. Since the beginning of its implementation, 3,035 loan agreements have been concluded with individuals for a total amount of over UAH 1 billion and a total equipment capacity of over 26 MW. For the further functioning of this program, the Ministry of Energy has been actively working to attract funds, in particular with international partners and financial institutions, ” — noted the Minister of Energy of Ukraine Svitlana Hrynchuk.
The updated mechanism approved by the government provides that instead of monthly compensation of the interest rate, borrowers will receive compensation of the principal amount of the loan in the amount of 30%.
This approach is more profitable: borrowers will immediately receive a reduction in the cost of the loan for the purchase and installation of equipment, and the state and potential donors will be able to more accurately calculate the amount of financing necessary to provide state support.
“The decision adopted by the government will contribute to an increase in the number of persons who will be able to purchase and install hybrid power supply systems, effective cooperation with international financial organizations and donors in the process of attracting funds for the implementation of the mechanism that will strengthen the energy security of the state, in the conditions of the destruction of power generation facilities and energy infrastructure as a result of the Russian Federation’s military aggression against Ukraine, the department explained.
