The Ukrainian Cabinet of Ministers has proposed new conditions for citizens to receive state support for the installation of wind or solar power plants. The preferential lending program was improved at the request of the Ministry of Energy, approving amendments to Resolution No. 673 of June 7, 2024.
The government considers this mechanism to be more advantageous and hopes that it will encourage more Ukrainians to install hybrid energy supply systems in their homes.
What has changed
Previously, citizens had to pay the interest rate on the loan every month. Under the new rules, the state will immediately provide compensation in the amount of 30% of the loan amount.
This decision will reduce the cost of the loan from the outset and enable the state and donors to make the necessary calculations for financing the program.
Since the program started in 2024, more than 3,000 contracts have already been signed for loans to purchase and install equipment. According to Energy Minister Svitlana Grynychuk, the total amount of loans is more than UAH 1 billion, and the installed equipment generates more than 26 MW of energy.
“To ensure the further implementation of this program, the Ministry of Energy has actively worked to attract funds, including with international partners and financial institutions,” adds Svitlana Hrynchuk.
EcoPolitic previously reported on the launch of a preferential lending program for individuals. However, small and medium-sized businesses, as well as condominiums as legal entities, can obtain loans under the "Affordable Loans 5-7-9%" program.
