State Bank of Pakistan has initiated Solar Financing Pakistan, through Solar Financing in Pakistan get Rs. 500000/- PKR to PKR Rs. 10 Million PKR in Pakistan. SBP has issued revised criteria for SBP renewable energy financing in Pakistan in 2016. Through Solar Financing scheme, we can encourage people who are belonging to the industrial, commercial, residential, and agricultural sector to invest in renewable energy sources. Through Solar Financing in Pakistan we can facilitate our customers to purchase solar energy systems in Pakistan on easy month installments.
This program shall allow more people to use renewable energy sources, which will help in attaining a free and uninterrupted supply of electricity. The excess energy which is produced shall be available to other people through Net Metering so it will impact the whole nation.
The eligibility criteria to qualify for this program have been kept very simple and easy to cope with the original objective of the program that is to encourage more people to use renewable energy by making it affordable. The eligibility criteria contain only these two requirements:
Must be the owner of the business, and the house where the solar panel system is to be installed
The markup rate has been set economical to make sure more people can afford it, and become a part of this initiative. The markup rate has been decided 3+3=6 per annum by the SBP. The 3% can further be negotiated depending upon your relationship with your bank.
Rate of Refinance | Maximum bank/ DFI’s Spread | Maximum End User Rate |
3.00% |
3.00% |
6.00% |
If you cannot afford the solar system by paying right away, you can still afford to switch to solar with the help of the bank. Now the Solar Financing Banks in Pakistan provide monetary assistance under Solar Financing Scheme in Pakistan.
JS bank is a well-known bank and a supporter of Green Energy. When SBP launched the solar financing scheme, JS bank initiated two different programs to help people take control of their energy production needs and contribute to a safer environment. The programs offered by JS Bank are as follows:
Both of the programs launched by JS Bank have the following similar features:
Financing
Between Rs. 300,000 and Rs. 20 million, depending upon the size of the project.
Minimum 25% of the total amount
Mark-up rate
6% annually
Financing tenor
Between 3 and 5 years
Processing fee
Minimum PKR 5,000/- or 0.5% of the loan amount (whichever of the two is higher will be taken)
Insurance
Insurance offered through reputable partners at a preferential rate
The Bank of Punjab, have started their financial assistance program in compliance with the State Bank of Pakistan solar financing program to help people switch to solar. For this purpose, they are giving financial assistance to people who want to get solar panel systems for their homes. They have named the program BOP Solar Home.
Financing
Up to Rs. 5 million or 50 lac.
Equity
Minimum 20% of the financing amount
Mark-up rate
6% annually
Financing tenor
Up to 7 years
Processing fee
PKR 5,000 for processing
BOK gives financing for domestic customers and is performing their role for a cleaner and greener Pakistan under SBP’s solar financing scheme. Solar Financing scheme from Peshawar a great initiative by The bank of Khyber, and after its success, they expanded the program to provide solar financing at all their branches in Pakistan. The bank offers the program under the name “BOK Roshan Ghar Scheme”.
Financing
From 50,000 to 20 million based on the category of the program under the SBP scheme.
Equity
Minimum 25% of the total financing amount
Mark-up rate
6% per annum
Financing tenor
Starting from 6 months up to 5 years
Processing fee
PKR 5,000 and FED
Insurance
The bank offers insurance from Askari General Insurance Peshawar (0.3%+taxes)
HBL is the biggest bank with the vastest network of branches in Pakistan. The bank is providing financial assistance under the State Bank of Pakistan Solar Refinancing Scheme to address the rising energy crises in Pakistan. They are providing financing to mostly industrial clients in the following three categories, which are as follows:
Financing
Equity
Minimum 25% of the total financing amount
Mark-up rate
Only 6% per year
Financing tenor
The financing tenor is different for every category and is as following:
Pakistan has been facing energy crises as well as environmental degradation with the use of non-renewable resources. The price of electricity is increasing rapidly, and economic growth is declining. To counter these problems, SBP started the Solar Financing Pakistan so industries, and homeowners can invest in renewable energy with the help of an investment from banks. State Bank of Pakistan has initiated the Green Banking program to incorporate environmental contemplations in banking operations, services, and funding.
Which Capacity Makes the Best Solar System For Home in Pakistan?
The solar energy systems are available in several capacities irrespective of the system type you are installing. The required capacity of the system depends upon the electricity usage of the consumer. If the electricity usage is higher, the system capacity will be greater as well. The table below will help you find the right capacity for your electricity utilization.
MONTHLY ELECTRICITY UNITS | SYSTEM CAPACITY |
300-350 | 3KW Solar System in Pakistan |
500-600 | 5KW Solar System in Pakistan |
1100-1200 | 10KW Solar System in Pakistan |
1700-1800 | 15KW Solar System in Pakistan |
2300-2400 | 20KW Solar System in Pakistan |
2800-3000 | 25KW Solar System in Pakistan |
3500-3600 | 30KW Solar System in Pakistan |
4000-4200 | 35KW Solar System in Pakistan |
Assan Solar being the Best Solar Energy Company in Pakistan has got you covered with its other cost-effective Solar Systems in Pakistan so you can conveniently switch to solar energy and gain energy independence. Now you can get the best Solar Panels in Pakistan and Solar Inverters in Pakistan from top-rated global manufacturers without any hassle. Going solar was never this easy and profitable. We are offering inexpensive Solar System Price in Pakistan, which includes top-quality products, and a Solar Panel Price in Pakistan, which is not a burden on your pocket. Dealing with the best inverters, our Solar Inverter Price in Pakistan makes it the most budget-friendly investment. Through SBP’s Solar Financing scheme, we can facilitate our customers to purchase a solar power system in Pakistan on easy monthly installments. We provide a Net Metering System in Pakistan to let you save and sell back excess electricity to the grid. Find the latest details regarding Solar Packages in Pakistan.
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