Montenegro calls for energy efficiency in households and solar energy for businesses
The government of Montenegro is accelerating its energy transition efforts with a set of specialized credits that small businesses can apply for to install photovoltaic systems and benefit from subsidies, and interest-free loans for energy efficiency measures in households.
The Investment and Development Fund (FID) and the Environmental Protection Fund (Ecological Fund) of Montenegro have launched a line of credit for companies, entrepreneurs and farmers for the installation of units of solar energy with a possibility of subsidizing loans with grants.
The funds are available until the end of the year. The loans are between 3,000 and 400,000 euros, with an annual interest rate of 3%. The repayment period can be up to 10 years, including a grace period of up to one year.
Technical and other requirements are divided into categories up to 10 kW and above the level. All PV systems will have net metering capacity.
Grants are for rooftop solar power systems of at least 3 kW
If they are eligible for a grant, beneficiaries can also obtain a co-financing grant of up to 40% of the eligible expenditure or a maximum of EUR 25,000. The total amount is 100,000 euros.
Documentation shows that grants are available for rooftop solar power systems of at least 3 kW. Projects will be awarded up to 100 points in the ranking procedure. A maximum of five points can be earned for the participation of women. Applicants from the agriculture, tourism and energy sectors can get 10 points while projects in underdeveloped municipalities score up to 10 points.
The deadline for grant applications is September 17th.
The program will be implemented in cooperation with the United Nations Development Program or UNDP under the Green Jobs project, funded by the Global Environment Facility – GEF.
The ministry will choose companies and entrepreneurs for an energy efficiency program of 200,000 euros for households
The Ministry of Investments called on companies active in the implementation of energy efficiency measures to apply before August 27 to participate in its zero rate household loan program. The government has allocated 200,000 euros to the project.
The beneficiaries will be able to install biomass heating installations, high efficiency heat pumps or split or multisplit air conditioners. They can also opt for facade insulation or to create new doors and windows.
The ministry said it would cover interest rates and loan processing fees. Citizens have the right to up to 10,000 euros per person for repayment within six years.