Total 20 items
- What is the Renewable Energy Financial Support Program?
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A The Renewable Energy Financial Support Program offers long-term, low-interest loans to cover part of the production, facility, and operating funds required for renewable energy-specific equipment.
Facility Funds: These are funds needed to install renewable energy equipment, including prototype costs and other installation-related expenses involved in the technological commercialization of the equipment.
Production Funds: These funds are required to set up manufacturing/production facilities for renewable energy equipment and for the technological commercialization of those manufacturing/production facilities.
Operating Funds: These funds are for the business operation of small and medium-sized enterprises that fall under production funds.
※ Facilities that have received part of their installation funds as a grant from public institutions* are excluded from the financial support program.
* Institutions designated and publicly announced by Article 4 of the Act on the Management of Public Institutions. - What is the Urban Solar Power Financial Support Program?
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A The Urban Solar Power Financial Support Program provides long-term, low-interest loans to individuals or entities that install solar power equipment on buildings and ancillary facilities.
* This program excludes solar power equipment installed on buildings supported by rural solar and industrial facility funds, including verified parking lots and other ground-level ancillary facilities listed in the building register. - What are the support conditions?
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A Facility Funds: The support limit per business operator is up to 50 billion KRW for wind energy, 30 billion KRW for solar energy, and 10 billion KRW for bio and other energy sources.
Production Funds: The support limit per business operator is 30 billion KRW, with a 5-year grace period and 10-year installment repayment. For the bio sector, the limit is up to 10 billion KRW, with a 3-year grace period and 5-year installment repayment.
Operating Funds: The support limit per business operator is up to 1 billion KRW, with a 1-year grace period and 2-year installment repayment.
* The interest rate and loan handling fees are governed by the "Special Account Operation Guidelines for Energy and Resource Projects." The Renewable Energy Center website posts quarterly announcements about them.
* The support ratio is up to 80% for small and medium-sized enterprises and up to 60% for mid-sized enterprises.
* The minimum application amount is 30 million KRW, with funding recommendations made in increments of 1 million KRW.
* The above support conditions are based on August 2024; please inquire for the latest details. - What is the industrial complex rooftop solar financial support program?
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A This program provides long-term, low-interest loans to those installing solar power facilities on factory roofs and unused factory areas.
- What equipment is eligible for support?
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A Eligible equipment is determined according to the guidelines for supporting renewable energy facilities and includes the following:
-Solar thermal systems, photovoltaic systems, concentrated solar power systems, biogas production and utilization facilities, bioenergy production and utilization facilities, energy produced from liquefied or gasified coal and heavy residual oil, hydropower systems, wind power systems, fuel cell systems, hydrogen energy systems, geothermal energy systems, renewable energy technology commercialization support, and hydrothermal energy systems.
* Energy Storage Systems (ESS) are collectively supported under the Energy New Industry Financial Support Program. - What is the procedure for financial support?
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A ① Apply for financial support online within the application period, as announced on the Renewable Energy Center website.
② Document review and evaluation by the review committee.
③ Issuance of recommendation letter based on the evaluation results.
④ Loan review through financial institutions (collateral required) and withdrawal based on construction progress. - What is rural solar power?
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A The rural solar power program is designed to expand farmers' participation in solar power projects, increase farm incomes, and contribute to the widespread adoption of solar power.
Farmers, fishermen, or livestock producers who participate in the rural solar power program can receive financial support (long-term low-interest loans) for the cost of installing solar power systems through the renewable energy financial support program. - Is collateral required?
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A After the recommendation letter is issued, the loan will be granted following a loan review by the financial institution.
Collateral may be required, so please consult the financial institution beforehand. - Which banks can I apply for a loan from?
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A You can apply freely from among the 15 financial institutions that have entered into loan agreements with the Korea Energy Agency.
These include the Korea Development Bank, Industrial Bank of Korea, KB Kookmin Bank, Woori Bank, Shinhan Bank, Kyongnam Bank, Gwangju Bank, Daegu Bank, Busan Bank, Jeonbuk Bank, Jeju Bank, Nonghyup Bank, Suhyup Bank, Hana Bank, and KDB Capital. - Can industrial complex rooftop solar power always receive support?
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A If financial support is requested for installing solar power systems on factory rooftops or unused factory land, a recommendation letter will be issued within the budget range after the review committee reviews the documents and evaluates them.
- What documents must I submit to prove I am a farmer?
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A Farmers should submit either a Farmer Verification Certificate or an Agricultural Business Registration Certificate, which must include the applicant's name and a statement indicating that they cultivate farmland of 1,000㎡ or more.
Fishermen should submit a Fisherman Verification Certificate, and livestock farmers should submit a Livestock Business License.
* Issuing Authorities:
1) Farmer Verification Certificate: 128 regional offices of the National Agricultural Products Quality Management Service nationwide
2) Fisherman Verification Certificate: 12 regional offices of oceans and fisheries nationwide
- Busan Regional Office of Oceans and Fisheries 051-609-6114
- Incheon Regional Office of Oceans and Fisheries 032-880-6114
- Yeosu Regional Office of Oceans and Fisheries 061-650-6000
- Masan Regional Office of Oceans and Fisheries 055-981-5000
- Donghae Regional Office of Oceans and Fisheries 033-520-6000
- Gunsan Regional Office of Oceans and Fisheries 063-441-2223
- Mokpo Regional Office of Oceans and Fisheries 061-280-1700
- Pohang Regional Office of Oceans and Fisheries 054-242-1812
- Pyeongtaek Regional Office of Oceans and Fisheries 031-683-0313
- Ulsan Regional Office of Oceans and Fisheries 052-228-5500
- Daesan Regional Office of Oceans and Fisheries 041-660-7700
- Jeju Regional Office of Oceans and Fisheries (Jeju Marine Management Division, Busan Regional Office of Oceans and Fisheries)
3) Livestock Business License (Registration Certificate): Contact the local government office. - Is installing it on land or in buildings under someone else's name possible?
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A Yes, it is possible. However, when applying, you must submit the owner's lease agreement or written consent along with a certificate of seal impression.
- Can I apply next year if the application deadline has passed?
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A Financial support for renewable energy facilities installed within the current year is provided through a contract with the construction company.
However, projects started after October 1 of the previous year (based on the date of the construction company contract) can apply during next year's announcement.
Example) A project contracted on September 30, 2019, cannot apply for the 2020 announcement, but a project contracted on October 1, 2019, can. - What must be done before applying for rural solar power?
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A You can apply once you have obtained a power generation business license and development activity permit from the relevant local government.
Please note that this process takes at least 2 months, so plan accordingly for your project. - Can a married couple apply separately?
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A Even if you are family members, each individual can apply if they have received a power generation business license in their name, meet the agricultural worker requirements, and have been registered as residents in the same town or district for at least one year.
- Are there any eligible cooperatives for solar power generation?
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A According to Articles 11 and 19 of the Enforcement Decree of the Act on Fostering and Supporting Agricultural and Fisheries Business Entities, agricultural cooperative corporations and agricultural companies are not eligible for power generation.
However, other cooperatives eligible for a power generation business license can apply for support. - Can solar power systems be installed on forest land?
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A As of 2020, forest land has been excluded from the list of eligible land for support.
- Are agricultural companies (corporations) eligible for support?
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A Agricultural corporations are not eligible for support.
- Can a business owner with three solar power plants, each with a capacity of around 100 kW, apply with a single recommendation letter?
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A You must apply for each power generation business license separately.
Please confirm whether the total capacity exceeds the 500 kW individual capacity limit for rural solar power. - What happens if the project cannot proceed due to delays, such as construction delays, after receiving a financial support recommendation this year?
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A If the application is canceled within the current year (by submitting a cancellation request), a recommendation for funding cannot be issued within the same year.
Additionally, if the cancellation occurs within the current year (if more than 20% of the funds are not withdrawn within 3 months from the date the recommendation letter is issued), you will not be eligible to apply for the following year.
* Guidelines on the Support for Renewable Energy Equipment, Article 47