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Purpose and Scope of Funds

Eligible Facilities

Funding Conditions

• Note1)

  Interest rates and loan handling fees are available in the quarterly announcements on the Renewable Energy Center's website.

• Note2)

  The support limits, support ratios, and timing for the same business entity may vary based on internal plans.

• Note3)

  If other public institutions have partially supported installation funds for free, they will be excluded from the support eligibility.

• Note4)

  Investment recovery period: Typically 3 to 4 years.

Application Period

• Open Application

  Renewable energy use confirmation (RE100) and village solar power (solar installations by village residents through cooperatives, in compliance with local government distance requirements).

• Scheduled Application

  Solar power for industrial facilities, urban areas (buildings, facilities), and rural areas, including operational and production funds.

Support Ratio and Priority Support

• Small businesses (individuals and cooperatives) up to 80%, mid-sized businesses up to 60%, RE100 large businesses up to 40%
• For open applications, priority support is provided for a total amount of 60 billion KRW.

Operating System

• ①

  Ministry of Trade, Industry, and Energy: After obtaining approval from the National Assembly, the Ministry allocates the budget for renewable energy financial support to the implementing agencies and oversees project management and supervision.

• ②

  Renewable Energy Center: The center receives applications from fund users, issues funding recommendation letters, and provides loans based on requests from financial institutions for fund lending.

• ③

  Financial Institutions: These institutions conduct loan reviews, confirm project progress, receive funds from the Renewable Energy Center, and provide the final loan for financial support.

• Applicable financial institutions include Korea Development Bank, Industrial Bank of Korea, banks under the Banking Act, Nonghyup Bank (excluding local branches), Suhyup Bank (excluding local branches), and specialized credit financiers under the Specialized Credit Finance Business Act that have entered into loan agreements with the foundation.

Application Period

1) Open Application

• ①

  Renewable Energy Use Confirmation [RE100] Solar Power

  • Self-Consumption: Companies installing solar power systems for self-consumption are eligible for the "Confirmation of Renewable Energy Use" certificate.
  • Power Purchase Agreement (PPA): Power generation companies supplying renewable energy through direct power trading agreements are eligible for the "Confirmation of Renewable Energy Use" certificate.
  • Renewable Energy Certificate (REC): Power generation companies selling all of their Renewable Energy Certificates (RECs) to companies eligible for the "Confirmation of Renewable Energy Use" certificate.
  • The power plant must have a capacity of at least 100 kW, and the maximum support amount will be subject to the limit for the same business operator.
• ②

  Village Solar Power

  • Solar power projects operated by cooperatives funded by local residents.
  • The cooperative must have a minimum of 10 members.
  • Facility capacity: Between 300 kW and 1,000 kW.
  • All participating members must reside in the same local government area as the power plant as of the announcement date (with at least one year of residence).
  • At least 50% of the cooperative members must reside in the same town, village, or administrative district as the power plant location.

2) Scheduled Application

• ①

  Solar Power for Industrial Facilities (Industrial Complex)

  • Solar power systems installed individually or collectively (cooperative) on buildings or land within an industrial complex.
  • Industrial Complexes: These include national industrial complexes, general industrial complexes, urban high-tech industrial complexes, and agricultural-industrial complexes.
  • Priority support is given for installations on buildings within the industrial complex (using rooftops).
  • For cooperatives, at least 70% of the members must be businesses within the industrial complex.
  • It is possible to apply if leasing buildings or land within the industrial complex; however, final loan approval depends on factors such as the applicant's credit and collateral capacity. Prior confirmation with the financial institution is required.
• ②

  Solar Power for Industrial Facilities (Factory)

  • Solar power systems installed on factory buildings or factory land outside industrial complexes.
  • For factory land, the address must match the one on the factory registration certificate.
  • It is possible to apply if leasing buildings or land; however, final loan approval depends on factors such as the applicant's credit and collateral capacity. Prior confirmation with the financial institution is required.
• ③

  Solar Power for Urban Buildings

  • Solar power systems installed on buildings and attached facilities.
  • Priority support is given for Building-Integrated Photovoltaics (BIPV).
  • Building owners can apply individually or collectively (cooperative).
  • It is possible to apply if leasing the building; however, final loan approval depends on factors such as the applicant's credit and collateral capacity. Prior confirmation with the financial institution is required.
• ④

  Solar Power for Urban Facilities

  • Solar power systems installed on structures and associated facilities created through construction work.
  • Facility owners can apply individually or collectively (cooperative).
  • It is possible to apply if leasing the facility from the owner or managing entity (government, local government, public institution); however, final loan approval depends on factors such as the applicant's credit and collateral capacity. Prior confirmation with the financial institution is required.
• ⑤

  Solar Power for Rural Areas (Rural Type)

  • Solar power systems can be installed by individual farmers, livestock producers, or fishers, either independently or through a cooperative.
  • The maximum capacity per individual is 500kW or less; each member can apply for up to 500kW for cooperatives, with the total support amount subject to the limit for the same business operator.
  • At least 70% of cooperative members must be farmers, livestock producers, or fishers.
  • The power plant must be installed in one of the following locations: ① the applicant's residential area (where they have been registered for at least one year as of the application date) within the same town, township, or district; ② an adjacent town, township, or district; or ③ within a 5 km straight-line distance from the applicant's residence.
  • Cowhouse installations must be on buildings approved for use at least two years before the application date. Farm livestock status data are required.
  • If leasing a cowhouse, it is possible to apply, but the lessee must meet the residential conditions.
  • Land categorized as forest field, dry paddy, rice paddy, orchards excluded based on the land designation at the time of the power plant permit issuance.
• ⑥

  Solar Power in Rural Areas (Agricultural Type)

  • Solar power systems are installed on farmland, integrating agriculture with solar energy generation.
  • Once relevant laws, such as the Law on Support for Agricultural-type Solar Power Generation Projects, are enacted, applications and support will be available.
• ⑦

  Solar Power in Rural Areas (Agricultural Reservoirs)

  • A resident-participatory solar power project installed near agricultural reservoirs.
  • Each resident can apply for a system with a capacity of less than 100 kW, with the total support amount subject to the limit for the same business operator.
    Example) if 20 residents participate, the maximum capacity eligible for application is 2 MW.

Implementation Procedure

Financial Institutions Handling Loans

• wangju Bank
• Kyongnam Bank
• Kookmin Bank
• Nonghyup Bank
• IM Bank
• Busan Bank
• KDB Capital
• Suhyup Bank
• Shinhan Bank
• Woori Bank
• Jeonbuk Bank
• Jeju Bank
• Industrial Bank of Korea
• Hana Bank
• Korea Development Bank