Seoul City to Provide Subsidies for 'Private Small-Scale Solar Power' Generation Starting This Year

100 Won per 1 kWh

[Asia Economy Reporter Hyunju Lee] Individuals or private entities producing electricity through privately installed small-scale solar power generation facilities will also be eligible to receive subsidies from the Seoul Metropolitan Government.

Seoul announced on the 13th that it will officially implement the Seoul-style Sunlight Power Support System.

Under this system, power producers who install and operate small-scale solar power generation facilities with a capacity of 100 kW or less will receive subsidies based on the amount of electricity generated. The subsidy is 100 KRW per 1 kWh. The cumulative installed capacity will be doubled to 20 MW.

The subsidy eligibility will be expanded to include private power generation facilities. This includes small-scale power generation facilities with a capacity of 100 kW or less among private facilities registered in the small-scale power brokerage market and net metering. A weighting factor of 1.2 will be applied when installed on private buildings.

To reduce the initial installation cost burden, the solar power facility loan support system will also be improved. It will support up to 3% per year for a maximum of 5 years on the difference between other financial institutions' loan interest rates and the Climate Change Fund loan interest rate.

This content was produced with the assistance of AI translation services.