Gyeonggi Province will provide financial support for the installation of solar panels on single-family homes.
On April 21, Gyeonggi Province announced that it will launch a program to subsidize part of the installation costs for residents wishing to install 3kW residential solar power systems. The program will recruit eligible participants through two types of support: a joint provincial-municipal support type (from May 26 to 30) and a provincial-only support type (from June 9 to 13).
The provincial-only support type allows applicants to choose between a lump-sum payment and installment payments. This year, approximately 5,000 households will be eligible for provincial funding. For the joint provincial-municipal support type, the province will cover 30% of the total installation cost of 4.93 million won, while the municipal portion will vary depending on the local government.
For the provincial-only support type, the province will cover 50% of the installation cost for lump-sum payments and 40% for installment payments. Notably, the installment payment option, which was piloted in 2023, will be fully implemented starting this year. Applicants choosing installment payments can have solar panels installed with no upfront cost by paying 49,300 won per month for five years.
Depending on installation conditions, residential solar panels typically generate an average of 300 to 400 kWh of electricity per month, resulting in a monthly reduction of about 60,000 to 80,000 won in electricity bills.
Kim Yeonji, Director of the Energy Industry Division of Gyeonggi Province, stated, "Gyeonggi Province has significantly increased its budget and introduced flexible support options such as installment payments, greatly lowering the barriers to participation for residents. We hope many residents will take interest in and participate in this residential solar power support project, which aims to reduce electricity costs and achieve energy self-sufficiency."
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