Jeonnam Province to Expand Support for Solar Energy Installation Costs

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province (Governor Kim Young-rok) has significantly expanded its 'solar energy installation cost support.'

Jeonnam Province announced on the 3rd that it will expand support for the installation costs of renewable energy power generation facilities to promote the spread of safe and clean renewable energy.

The province plans to significantly increase the support rate for installation costs of renewable energy power generation facilities from the existing 55% to 70% for about 1,500 households in the province wishing to install solar power, solar thermal, geothermal, fuel cells, and more.

This project is linked with the government's renewable energy housing support project, which partially supports the installation costs of renewable energy. Last year, 55% of the installation costs were subsidized by national and local funds, but this year the subsidy rate has been raised to 70%. Only 30% of the installation cost is borne by the households, reducing the economic burden.

Since 2007 until last year, the province has invested 4.2 billion won of provincial funds to distribute various renewable energy power generation facilities such as solar power to about 10,000 households, and this year it will support 500 million won of provincial funds at the same level as last year.

In particular, to reduce the residents' self-payment according to the different installation costs by energy source and capacity, the province, city, and county have established support standards.

Support is provided up to 1.06 million won for solar power (based on 3 kW), 1.02 million won for solar thermal (based on 14 ㎥), 2.1 million won for geothermal (based on 17.5 kW), and 1 million won for fuel cells (based on 1 kW).

In fact, if a 3 kW solar power generation facility is installed in a house, a subsidy of 3.52 million won is provided, and installation is possible with a self-payment of 1.51 million won.

Households with installed power generation facilities can save about 40,000 won on electricity bills every month, so it is expected that the self-payment will be recovered within 4 to 5 years.

Applications for the project can be made on the Korea Energy Agency Green Home website from the 13th to September 4th after the owner of a single or multi-family house, as defined by the Enforcement Decree of the Building Act, completes an installation contract with a construction company.

For more details, inquiries can be made to the Korea Energy Agency, the energy departments of city and county offices, or the Energy New Industry Division of Jeonnam Province.

Seo Soon-cheol, head of the Energy New Industry Division of Jeonnam Province, said, "Installing renewable energy power generation facilities greatly reduces energy costs, which has received a high response from residents," and added, "We will continue to expand support for the distribution of renewable energy sources through the discovery of various projects."