Finance Ministry Backs Solar Subsidies for One Million Homes
The Thai Finance Ministry has thrown its weight behind the government's People's Solar programme, which will subsidize rooftop installations for one million households at a cost of 50 billion baht. State-owned banks will offer 2.5 percent loans to help families afford the systems, cutting power bills, enabling surplus sales to the grid, and adding up to 5,000 megawatts of clean energy to the national supply.
The Ministry of Finance has endorsed the government's People's Solar policy, which aims to cut household expenses, boost income, and drive the country's energy transition. The scheme subsidizes equipment and installation costs for one million households at 50,000 baht each, under a 50-billion-baht budget. The policy delivers three simultaneous benefits: first, reducing household spending as daytime solar generation lowers monthly electricity bills; second, increasing income by allowing excess daytime power to be sold back to the grid; and third, supporting the national energy transition, as one million homes can generate up to 5,000 megawatts of clean energy, enhancing energy security and reducing oil and natural gas imports for power generation.
Consequently, the Ministry of Finance has directed three state-owned specialized financial institutions — the Government Savings Bank, Government Housing Bank, and Bank for Agriculture and Agricultural Cooperatives — to provide low-interest loans at 2.5 percent per year. This helps financially constrained households access funding for rooftop solar installation, easing long-term energy costs and creating income opportunities from surplus power sales, while advancing clean energy adoption and national energy security.
For business operators, the program presents an opportunity to expand operations to meet the one-million-installation target. The three state-owned banks will also support business expansion loans and reduce Bank Guarantee fees to just 350-500 baht, ensuring contractors can complete installations on schedule.
For more loan information, contact: Government Savings Bank: www.gsb.or.th or GSB Contact Center at 1115 Government Housing Bank: GHBANK Call Center at 0-2645-9000 or Facebook page Bank for Agriculture and Agricultural Cooperatives: all BAAC branches nationwide or BAAC Contact Center at 02 555 0555
