The Czech Republic has increased the financing for its interest-free loan program for commercial and industrial (C&I) Solar and storage projects for CZK 3 billion ($ 132.2 million) after the strong question had exhausted the previous budget.
The Ministry of Industry and the Trade (MIT) of the Czech Republic has added CZK 1 billion to its interest-free loan program for companies that install solar energy.
The program, launched in June 2024, offers interest -free loans ranging from CZK 500,000 to CZK 3 million for companies of all size. It supports solar plants up to 50 kW on commercial buildings, warehouses, garages and carports. Battery storage systems are also eligible.
The loan includes a subsidy component that allows the National Development Bank (NRB) of the Czech Republic, which manages the program with MIT, to abandon part of the refund under certain conditions.
Subsidies cover up to 30% of the eligible costs for solar installation and up to 50% for energy storage if applicants meet the programs. Companies must also submit a verification report that confirms that the system has been approved for permanent use.
The total budget of the program is now on CZK 3 billion. Lukáš Vlček, Czech Republic’s Minister of Industry and Trade, said that the question “has exceeded all expectations.”
“Although we have already increased the allocation to a total of CZK 2 billion in February of this year, the applications received have already exceeded this limit and would be necessary to end the call,” Vlček added.
To date, the program has completed 128 contracts with a total installed capacity of more than 4.8 MW.
Michal Nebeský, a member of the NRB Council of the board, said that the board works to speed up the approval process as much as possible.
“On the other hand, we must carefully assess each application, both with regard to providing all required documents and the credit risk aspect, as any other bank does,” said Nebeský. “Given the great importance, increasing the funds in this program is the right step.”
Czech Republic installed 967 MW Van Zonne energy in 2024, according to figures from the Czech Zonne Association, with around 500 MW added in the C&I market.
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