Gwangju City Expands Renewable Energy Housing Support Program

Gwangju City Hall

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 25th that it will expand the Renewable Energy Housing Support Project.

The Renewable Energy Housing Support Project is a program that provides partial financial support when installing renewable energy sources such as solar power, solar heat, and geothermal energy in homes.

In particular, to expand the distribution of renewable energy, Gwangju City will additionally provide 150 million KRW in city funds to the first 150 households on a first-come, first-served basis starting from the 13th of next month, in conjunction with the government’s renewable energy distribution policy and national subsidies.

Accordingly, for the most commonly applied 3kW solar power system, out of the total installation cost of 5.02 million KRW per household, 2.51 million KRW is covered by national funds and 1 million KRW by city funds, so applicants only need to bear 1.51 million KRW. (With an average electricity bill reduction of 45,000 KRW/month, the payback period for the self-payment is approximately 2 years and 9 months.)

The project targets owners or prospective owners of existing or newly built houses as registered in the building register or building ledger.

To simplify the complicated application process, Gwangju City posted a list of participating companies selected by the Korea Energy Agency as professional construction companies on its website announcement. Citizens wishing to install systems can select a company and consult with the participating company to apply.

Detailed information can be found in the ‘Notices and Announcements’ section on the Gwangju City website, and inquiries can be made to the Energy Industry Division.

Oh Dong-gyo, head of the Energy Industry Division of the city, said, “The Renewable Energy Housing Support Project is expected to greatly contribute to reducing electricity and heating costs for installed households as well as improving Gwangju’s energy self-sufficiency rate,” adding, “We will continue to expand various customized renewable energy support policies in the future.”

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