The Government of Montenegro is accelerating its energy transition efforts with a specialized credit package that small businesses can apply for to install photovoltaic systems and qualify for grants, and interest-free loans for energy efficiency measures in households.
The Investment and Development Fund (IDF) and Environmental Protection Fund (Eco Fund) of Montenegro launched a credit line for companies, entrepreneurs and farmers for the installation of solar power units with a possibility of subsidizing the loans with grants.
The funds are available until the end of the year. Loans are between EUR 3,000 and EUR 400,000, with a 3% annual interest rate. The repayment period can last up to 10 years including a grace period of as much as one year.
The technical and other requirements are split into categories of up to 10 kW and above the level. All photovoltaic systems will have a net metering ability.
Grants are for rooftop solar power systems of at least 3 kW
If they qualify for a subsidy, the beneficiaries can also get a cofinancing grant for up to 40% of eligible expenses or a maximum of EUR 25,000. The total amount is EUR 100,000.
The documentation shows grants are available for rooftop solar power systems of at least 3 kW. The projects will be awarded up to 100 points in the ranking procedure. A maximum of five points can be won for the participation of women. Applicants from the agriculture, tourism and energy sectors can get 10 points while projects in underdeveloped municipalities bring up to 10 points.
The deadline for applications for grants is September 17.
The scheme will be implemented in cooperation with the United Nations Development Programme or UNDP through the Green Jobs Project, funded by the Global Environment Fund – GEF.
Ministry to pick firms, entrepreneurs for EUR 200,000 energy efficiency program for households
The Ministry of Capital Investments called on businesses that are active in introducing energy efficiency measures to apply by August 27 to participate in its interest-free loan scheme for households. The government earmarked EUR 200,000 for the project.
Beneficiaries will be able to install biomass heating facilities, highly efficient heat pumps or split or multisplit air conditioners. They can also opt for façade insulation or to make new windows and doors.
The ministry said it would cover the interest rate and loan processing costs. Citizens are eligible for up to EUR 10,000 per person for repayment within six years.