Gyeongbuk Province Selects Recipients for This Year's Solar Energy Farming Support Program

Solar Power Facility Funding at 1% Annual Interest Loan Support

Expansion of Non-Farm Income Generation and National Greenhouse Gas Reduction

Gyeongbuk Province announced on the 28th that it has selected 127 farms as beneficiaries of the "2023 Sunshine Energy Farming Support Project" and will provide a budget of 13.7 billion KRW.

Case Study of Solar Power Facility Installation (Livestock Shed Roof).

In preparation for any dropouts, an additional 20 reserve candidates were announced.

Applications for the 2023 Sunshine Energy Farming Support were accepted from March 20 to April 14, showing a high competition rate of 2.6 to 1 on average.

Based on the submitted documents from 324 farming and fishing households, final selection of 127 farms was made through document evaluation considering residence period in the province, duration of engagement in farming and fishing, and review by the Sunshine Energy Farming Promotion Team.

The Sunshine Energy Farming Support Project is a flagship initiative first launched by Gyeongbuk Province among local governments nationwide to expand the distribution of renewable energy. Since 2016, it has been promoted annually by establishing an energy business development fund, accumulating a total of 53 billion KRW to date.

This project installs solar power facilities on idle rural land and livestock barns to generate and sell electricity, thereby creating a steady off-farm income. It also contributes to national greenhouse gas reduction and the expansion of renewable energy, making it a win-win solution that has seen increasing applications every year.

Eligible recipients are farmers, fishers, and their organizations residing in the province. Individuals can receive support up to 140 million KRW for solar power facilities with a capacity of 100 kW or less, while organizations can receive up to 700 million KRW for facilities with a capacity of 500 kW or less. Loans are provided at an annual interest rate of 1% with a 6-month grace period and repayment over 11 years and 6 months in installments.

However, considering food security and concerns over farmland damage, support is not provided for farmland used for crop cultivation such as rice paddies, fields, and orchards, nor for buildings not registered in the building register or those without completed construction inspections.

The list of selected beneficiaries can be found on the Gyeongbuk Province website under “Provincial News - Notice Board / Public Announcements.”

After completing the construction of the solar power plant and passing the pre-use inspection by the Korea Electrical Safety Corporation, applicants should prepare recommendation documents and installation completion reports and apply for loan support at their local agricultural or livestock cooperative.

Jang Sang-gil, Director of the East Coast Strategic Industry Bureau of Gyeongbuk Province, said, “We appreciate the strong interest and positive response from residents regarding the Sunshine Energy Farming Support Project for farmers and fishers. We plan to expand the energy business development fund to enable more farmers and fishers to benefit in the future.”

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