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The Credit Line, Made Available by Caixa Econômica Federal to Individuals, Will Aim to Finance New Installations of Solar Panels and Other Costs of the Solar Energy System in Homes and Businesses
Caixa Econômica Federal announced that it will release a credit line for the exclusive financing of sustainable energy. The bank is set to launch the credit line on December 17 for the financing of photovoltaic solar energy generation systems. Everything will be funded by Caixa, including installation costs, which will be aimed at individuals. The Personal Credit “Caixa Renewable Energy” will have an interest rate starting from 1.17% per month, and the financing quota will cover 100% of the project, which will limit the proposer’s payment capacity.
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The most viable alternative at the moment for many Brazilians has been to adopt the solar energy generation system. However, even though this is a great alternative, its initial cost is somewhat high.
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Banks and Consortiums Providing Credit Letters to Clients
According to Portal Solar, the average cost of installing solar energy panels can reach around R$ 10 thousand in homes and up to R$ 30 thousand in commercial networks.
In addition to installation costs, there are also maintenance costs and the approval of the energy utility in your city for you to have solar energy at home. Considering the high costs already described, banks and consortiums are stepping in to help with financing, should you be interested in having renewable energy at home but lack the capital for investment.
Besides Caixa Econômica, Banco Santander also offers credit lines for this type of investment. Both banks have lower interest rates and minimal entry value facilitation.
There are basically two types of renewable solar energy: solar thermal energy and photovoltaic solar energy. Solar thermal energy is used to heat water and activate cooling.
Photovoltaic solar energy works as follows: panels are installed on the roof of the home, which absorb heat emitted by the sun and convert it into electric energy for domestic use. Besides being extremely efficient, all forms of solar energy are beneficial to the environment, as they do not produce any toxic gas and do not harm nature.
Availability of Caixa Econômica’s Credit Line to Clients
For those interested in obtaining the credit line from Caixa Econômica Federal, it is worth noting that there is a total payment term of up to 60 months, including a grace period of 6 months.
The credit line will be offered in two different ways, one without guarantees and the other with collateral of financial investments, for those with fixed income.
