Image: Yazan Obeidat/Unsplash
A subsidy scheme for residential solar panel systems and solar boilers Jordan has received support from two major banks.
The household sector support programmewhich reimburses up to 30% of the costs of household solar panels and solar boiler installations, is implemented by the Renewable Energy and Energy Efficiency Fund of the Jordanian Ministry of Energy and Mineral Resources.
Cairo Amman Bank and Jordan Islamic Bank have signed joint cooperation agreements for the new phase of the initiative, in which the banks will offer flexible financing options to customers, including allowing citizens to cover the remaining 70% of the system costs through repayment plans.
The 2024/2025 phase of the subsidy scheme, which launched in Septemberaims to install 4,000 solar panel systems and 5,000 solar boilers by the end of the year, at an expected cost of JOD 8.5 million ($12 million) and JOD 3 million.
Energy Minister Saleh Al-Kharabsheh, who is also the fund’s board of directors, says that in the previous phase, 3,000 solar water heaters and 2,000 solar panels were installed at a total cost of JOD 6.5 million, with the fund covering 30% of the costs subsidizes.
According to the latest statistics from the International Renewable Energy Agency (IRENA), Jordan had 1.99 GW of cumulative installed PV capacity at the end of 2023.
Analysis by data consultancy Wiki-Solar, published Through pv magazine in 2023, Jordan ranked third in the world in the contribution of utility-scale solar energy to total energy consumption.
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