Gyeonggi Province (Governor Kim Dong-yeon) is recruiting villages of hope until the twenty ninth of next month for the '2024 Energy Opportunity Income Village Creation Project', which provides monthly income to residents through solar electricity sales by supporting 80% of the installation cost of shared solar energy plants within the village. The day was revealed.

Village communities consisting of 10 or more households are eligible for support in the event that they install a industrial solar energy generator (total installed capability of 100kW or more but lower than 1MW) on private or public land. This yr, a project cost of 6.7 billion won might be invested. Gyeonggi Province will cover 30% of the overall installation cost, the town and county will cover 50%, and the remaining 20% ​​might be borne by themselves.

The capability of solar energy generation facilities is 10 to fifteen kW per household. Assuming 10 kW, 4.14 million won of the 20.7 million won installation cost might be borne by the household. Excluding rent and management costs from the revenue from the sale of renewable energy supply certificates (RECs) and the facility price (SMP) for 20 years (the standard lifespan of a solar energy plant), opportunity income with an annual rate of return of about 25% is created.

City/county, village communities, construction corporations, and city/county resident participation energy cooperatives can jointly form a consortium and apply. To make sure lively participation of residents and smooth operation of power plants, additional points (4 points) are given if a city/county resident-participatory energy cooperative is included within the consortium.

The appliance period is until March twenty ninth, and all you’ve gotten to do is seek for 'energy opportunity income' within the notices and announcements section of the Gyeonggi-do website, fill out a marketing strategy and required documents, and submit them to the energy department of the competent city/county office.

Kim Yeon-ji, head of the Gyeonggi Province Energy Industry Department, said, “Gyeonggi Province will actively support village communities that actively take part in the energy transition process to answer the climate crisis to acquire opportunity income.”

Meanwhile, Gyeonggi Province announced that 4 cities, counties and five villages participated within the energy opportunity income village creation project last yr and can receive opportunity income from the second half of this yr.

Reporter Taeyong Kim future@aitimes.com