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 system financing in Pakistan so industries, and homeowners can invest in renewable energy with the help of an investment from banks.
The eligibility criteria contain only these two requirements:
- Must hold a Computerized National Identity Card (CNIC)
- Must be the owner of the business, and the house where the solar panel system is to be installed
Our Partner Bank:
JS Bank is offering solar investment under its JS Bank Apna Ghar solar financing program. The bank provides financing of Rs. 10 million without any collateral. The amount is to be repaid over a period of ten years, with a markup rate of 6% per annum.
Bank Alfalah offers loans for solar sponsoring under the Alfalah Green Energy program, in cooperation with the SBP re-financing program for renewable energy. The bank gives a loan of Rs. 2 million without any collateral for a period of 10 years. The markup rate is set at 6% annually