Gyeongnam Province Supports Installation of Residential Solar Panels for 2,000 Households with a Total of 7.1 Billion KRW

Monthly 40,000 KRW Electricity Bill Savings with 3kW Solar Power Installation

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongsangnam-do announced on the 13th that it will promote a renewable energy housing support project this year, aiming to supply 2,000 households across all cities and counties in the province.

The renewable energy housing support project provides installation cost support when renewable energy facilities such as solar power and solar heat are installed in houses. The support targets owners of detached and multi-family houses as defined by the Building Act.

Since 2004, Gyeongnam Province has promoted the housing support project and supplied renewable energy facilities to about 35,000 households in the province by 2019. This year, it plans to supply solar power, solar heat, geothermal, and fuel cell facilities to about 2,000 households in the province by supporting a total of 7.1 billion KRW from national, provincial, city, and county funds.

Among the supplied facilities, the most installed is the 3kW residential solar power system, which costs 5.03 million KRW for installation. Of this, depending on the city or county, support ranges from a minimum of 3.23 million KRW to a maximum of 3.77 million KRW per household.

The 3kW residential solar power system produces about 320 kWh of electricity per month. A household with a usual monthly electricity bill of 50,000 KRW can save about 40,000 KRW, and households with higher electricity bills can see greater savings depending on the progressive rate billing system.

If, due to special circumstances such as long-term absence from home, the electricity produced by solar power exceeds the electricity used, the surplus electricity is carried over and reflected in the next month's electricity bill.

Homeowners wishing to participate can sign up as members on the Korea Energy Agency Green Home website, consult with a supply project participating company selected by the agency, and after contracting, submit an application online through the Green Home website starting from the 13th.

Lee Su-bu, Director of the Energy Industry Division of Gyeongnam Province, said, "Renewable energy facilities continuously bring economic benefits to households by reducing electricity bills," and added, "Since it also helps reduce greenhouse gases and fine dust, we hope many residents will take interest and participate in the project."

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