28.09.2023 BDB will support households to obtain financing to switch to renewable energy sources

The Bulgarian Development Bank (BDB) has launched a new programme to support households that apply to replace their solid fuel energy sources (stove, boiler, fireplace, etc.) with renewable ones under the National Recovery and Resilience Plan.

Thanks to the guarantee provided by BDB, citizens can obtain unsecured loans from commercial banks which are partners in the programme.

The requirement is that they have signed a contract for grant financing under the Procedure "National scheme for supporting households in the field of energy from renewable sources" implemented by the Ministry of Energy.

With the bank's new measure, citizens will be able to receive targeted bridging financing of up to BGN 22,000 for the installation of photovoltaic systems with a capacity of up to 10 kWp, as well as for the necessary electricity storage systems (batteries). Under the programme, loans of up to BGN 3,000 will also be granted for delivery and installation of solar installations for domestic hot water supply.

BDB provides access to citizens to the necessary loan resources with which to start the implementation of the projects, since the payment of the grant financing will take place after the realization of the investment in the solar systems or installations.

The loans will be for up to 5 years, with the possibility of up to a 12-month grace period. No co-payment or collateral in favour of BDB's partner banks is required.

The loans will be granted by commercial banks in the country that have entered into guarantee agreements with BDB. They shall express their interest in participating in the programme by October 26, 2023.

Detailed information about the Procedure "National scheme for supporting households in the field of energy from renewable sources" implemented by the Ministry of Energy is published here.