The Thai Bank Kasikornbank (KBank), in partnership with Huawei Technologies, is embracing the growing sustainability trend in Thailand by launching its new green loan. The loan will support the green ecosystem from upstream to downstream operations including contractors, homeowners, and business owners. This project aims to install solar rooftops in 30,000 homes to lower electric bills and help reduce greenhouse gas emissions by 265,000 metric tons in a year.
This is also in line with Kasikorn Research Center’s forecast that by 2022, solar roof installations in the business sector will grow to 125.9 MV, an increase of 54% from the previous year. The demand from the household sector is expected to increase due to growing demands from real estate developers’ new housing projects while more consumers are increasingly concerned about sustainability trends and higher electric bills.
The collaboration between KBank and Huawei will bring both financial assistance and innovative products to support the green ecosystem from upstream to downstream, including solar rooftop contractors, homeowners, and business owners. Each household can save up to THB 36,000 (USD 1,030) on electric bills after deploying 5kW solar rooftop installations.
For rooftop solar contractors, KBank will support them with credit loans to increase their business liquidity and capacity so that they can continue their solar rooftop installation projects without interruption. The bank will also provide credit solutions for contractors who install solar systems for buildings and sell electricity to building owners in the long-term period.
For homeowners, KBank will support them with credit loans for solar rooftop installation. Special promotions include interest-free payment for up to 3 months and a maximum term of 30-year installment. In the future, there will be options to pay via credit card to increase convenience for customers.
For business owners, KBank will financially support businesses to install solar rooftop system with special promotion of interest-free payment for 3 months, and maximum term of 8-year installment.