{"id":83549,"date":"2025-03-05T07:19:38","date_gmt":"2025-03-05T07:19:38","guid":{"rendered":"https:\/\/solarhouse.bg\/financing-opportunities-for-home-photovoltaic-systems-in-2024\/"},"modified":"2025-03-06T06:54:32","modified_gmt":"2025-03-06T06:54:32","slug":"financing-opportunities-for-home-photovoltaic-systems-in-2024","status":"publish","type":"post","link":"https:\/\/solarhouse.bg\/en\/financing-opportunities-for-home-photovoltaic-systems-in-2024\/","title":{"rendered":"Financing opportunities for home photovoltaic systems in 2024"},"content":{"rendered":"\n

Financing opportunities for home photovoltaic systems in 2024<\/h2>\n

Investing in home photovoltaic systems is not only a way to reduce electricity costs, but also a step towards energy independence and a sustainable future. Although the initial capital costs can be significant, there are various financing options for photovoltaic systems that make this investment affordable for households. <\/p>\n

As a renewable energy system, the photovoltaic system has no fuel costs and has close to 0 operating costs over a minimum 25-year useful life. At the same time, it generates electricity with relative predictability of production, and in cases where it is used to cover its own needs – at a fixed low cost of electricity, without the burden of grid access and transmission fees. This makes the photovoltaic system one of the most attractive investments on the market today. <\/p>\n

Bank loans for financing photovoltaic systems<\/h2>\n

While there are a variety of options for businesses, there is a distinct lack of specialized products when it comes to lending for photovoltaic systems for households. Most households must rely on consumer credit if they decide to invest in a system to cover their own needs. <\/p>\n

ProCredit Bank is one of the few banks that has<\/strong> a product for financing photovoltaic systems for households<\/strong><\/a>. With an interest rate of 3.95% and a maximum loan term of 7 years, the entire application process is done online. The bank has created a calculator that calculates the amount of the monthly installment based on the loan amount and the repayment term in months, with the maximum loan amount being BGN 100,000. With a loan amount of BGN 23,000 (which is the average cost for the design, delivery and installation of a 10 kW photovoltaic system with a 10 kWh battery) and a repayment term of 5 years, the amount of the monthly installment is BGN 423.69 at an annual percentage rate (APR) of 5.64%. <\/p>\n

Advantages of bank financing for photovoltaics<\/h2>\n

Bank financing provides quick access to the necessary funds for the construction of photovoltaic systems. Specialized loans offer lower interest rates and long repayment terms, making monthly payments more affordable for households. <\/p>\n

State programs for financing photovoltaic systems for households <\/strong><\/h2>\n

In order to increase the use of renewable energy in household final consumption, in 2023 the Ministry of Energy opened the first tranche of the procedure “National Scheme for Supporting Households in the Field of Energy from Renewable Sources<\/strong><\/a>” within the framework of the National Renewable Energy Framework. In order to receive funding, a project must relate to a dwelling where the applicant’s permanent address is and there must not be a registered legal entity at this address. The dwelling must use an inefficient source of heat energy (stove, boiler, fireplace) using solid fuel (wood, coal). Photovoltaic systems with a capacity of up to 10 kW are financed up to 70%, but with no more than 15,000 leva. The procedure was closed for applications in November 2023 and is currently in the evaluation process. The review and evaluation of applications are delayed due to administrative difficulties related to the lack of a sufficient number of evaluators. A total of 2,001 applications have been submitted under it, totaling 44 million. BGN against a total budget of BGN 80 million under this tranche. A second tranche of financing under this scheme is expected to be opened in June-July 2024. Expect news from us as soon as we receive information. <\/strong>.<\/p>\n

Bridge financing from the Bulgarian Development Bank<\/h2>\n

Households with approved projects for grant financing of photovoltaic systems under the scheme must fully pay for the delivery and installation of the equipment before receiving funds under the program. Given this fact, the Bulgarian Development Bank (BDB) has created a<\/strong> special guarantee scheme for bridge financing of these projects<\/strong><\/a>. BDB has signed guarantee agreements with the Bulgarian-American Credit Bank, Investbank, Municipal Bank and Commercial Bank D<\/strong> for financing households that invest in energy from renewable sources under the NPV. The requirement is that applicants must have concluded a grant agreement under the procedure “National Scheme for Supporting Households in the Field of Energy from Renewable Sources”. Citizens can receive credit of up to BGN 22,000 for the installation of photovoltaic systems up to 10 kW, which may include batteries. Thanks to the BDB guarantee, commercial banks will grant loans for the construction of the systems before the grant is paid. These loans will have lower collateral requirements, including no collateral and no co-payments from borrowers. The loans will have a term of up to 5 years and a 12-month grace period. <\/p>\n

Conclusion<\/h3>\n

Financing of home photovoltaic systems in Bulgaria can be done through a variety of bank loans, state and European programs. The choice of the most appropriate financing depends on the specific needs and capabilities of households. Regardless of the chosen method, investing in photovoltaic systems is a step towards a more sustainable future and reducing electricity costs. <\/p>\n

For more information about designing and building photovoltaic systems, contact our team of experts who will help you choose the most suitable solution for your home.<\/p>\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":83367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2007],"tags":[],"class_list":["post-83549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financing"],"yoast_head":"\nFinancing opportunities for home photovoltaic systems in 2024 - Solarhouse<\/title>\n<meta name=\"description\" content=\"Learn more about the various financing options for home photovoltaic systems in Bulgaria, including bank loans and state and European programs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solarhouse.bg\/en\/financing-opportunities-for-home-photovoltaic-systems-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financing opportunities for home photovoltaic systems in 2024\" \/>\n<meta property=\"og:description\" content=\"Learn more about the various financing options for home photovoltaic systems in Bulgaria, including bank loans and state and European programs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/solarhouse.bg\/en\/financing-opportunities-for-home-photovoltaic-systems-in-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Solarhouse\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarHouseBG\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-05T07:19:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-06T06:54:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/solarhouse.bg\/wp-content\/uploads\/2025\/03\/0-02-05-f7e1fe00f50dfb3541ef8f43ac466cd053f1c387edaedd2bc0a0028a221610b0_37c9a6afc75564a4.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Solarhouse2\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Solarhouse2\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/solarhouse.bg\\\/en\\\/financing-opportunities-for-home-photovoltaic-systems-in-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/solarhouse.bg\\\/en\\\/financing-opportunities-for-home-photovoltaic-systems-in-2024\\\/\"},\"author\":{\"name\":\"Solarhouse2\",\"@id\":\"https:\\\/\\\/solarhouse.bg\\\/#\\\/schema\\\/person\\\/ae6a4e6708368ab84688fd00a1fe6067\"},\"headline\":\"Financing opportunities for home photovoltaic systems in 2024\",\"datePublished\":\"2025-03-05T07:19:38+00:00\",\"dateModified\":\"2025-03-06T06:54:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/solarhouse.bg\\\/en\\\/financing-opportunities-for-home-photovoltaic-systems-in-2024\\\/\"},\"wordCount\":826,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/solarhouse.bg\\\/en\\\/financing-opportunities-for-home-photovoltaic-systems-in-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/solarhouse.bg\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/0-02-05-f7e1fe00f50dfb3541ef8f43ac466cd053f1c387edaedd2bc0a0028a221610b0_37c9a6afc75564a4.webp\",\"articleSection\":[\"Financing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/solarhouse.bg\\\/en\\\/financing-opportunities-for-home-photovoltaic-systems-in-2024\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/solarhouse.bg\\\/en\\\/financing-opportunities-for-home-photovoltaic-systems-in-2024\\\/\",\"url\":\"https:\\\/\\\/solarhouse.bg\\\/en\\\/financing-opportunities-for-home-photovoltaic-systems-in-2024\\\/\",\"name\":\"Financing opportunities for home photovoltaic systems in 2024 - 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