Pohang City Opens Recruitment for Renewable Energy Housing Support Project... Up to 75% Installation Cost Subsidy Provided

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Pohang City announced on the 14th that it is accepting applications for the '2020 Renewable Energy Supply Housing Support Project,' which supports up to 75% of the installation costs of renewable energy systems for general and multi-family housing in the area.

This year's support fund totals 800 million KRW (500 million KRW from the national government, 67 million KRW from the provincial government, and 157 million KRW from the city government), supporting about 200 households (based on 3 kW solar power systems). The application deadline is until the budget is fully exhausted.

For a 3 kW residential solar power system, out of the installation cost of 5.03 million KRW, a national subsidy of 2.51 million KRW and provincial and city subsidies totaling 1 million KRW are provided, so homeowners only need to bear about 1.52 million KRW.

Homeowners wishing to install solar power can select participating companies and sign contracts through the Korea Energy Agency's Green Home website, then submit application documents. Final approval is made by the Korea Energy Agency after Pohang City's project review.

A Pohang City official expressed expectations that "the renewable energy supply support project will reduce citizens' energy costs and revitalize the local economy by creating energy self-sufficient villages in rural fishing communities."

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