Bangkok:The Government Housing Bank (GHB) has introduced a new initiative titled "Solar Loan for the Public," offering an interest rate of 2.50% per year with monthly payments as low as 1,200 baht. This initiative aligns with the government's policy of transitioning to clean energy and aims to reduce expenses for the public.
According to Thai News Agency, the GHB's initiative is part of the Community Solar Project, offering a loan program with a budget of 45 billion baht. The program provides a fixed interest rate of 2.50% per year for a loan term of up to seven years, with the government subsidizing installation costs by 50,000 baht. Interested individuals can apply through the Metropolitan Electricity Authority (MEA) and Provincial Electricity Authority (PEA) channels and submit loan applications at any GHB branch nationwide until August 31, 2027.
Dr. Mahatthana Ampornphisit, Managing Director of GHB, emphasized the bank's role as a specialized state financial institution supporting housing for the public and aiding in the government's clean energy transition. The Public Sector Solar Project offers loans for solar power plant projects ranging from 5-10 kW, with the possibility of starting monthly payments at 0 baht if electricity sales exceed the monthly installment.
Participants must own an electricity meter and engage in a power purchase agreement with MEA or PEA. Registration can be completed online or at MEA and PEA offices to obtain a confirmation or QR code for loan applications at GHB branches. The program aims to not only provide access to clean energy but also reduce long-term energy costs.
For those unable to meet the eligibility criteria for this project, GHB offers other loan products, such as home loans with solar rooftop options and loans for energy-efficient housing upgrades, with various interest rates and repayment terms. These efforts reflect GHB's evolution beyond a traditional housing bank to a partner in housing and financial planning.