October 3 (Renewables Now) - Chilean state-owned lender Banco del Estado de Chile (BancoEstado) launched on Tuesday a green consumer loans initiative, seeking to finance household renewable energy and energy efficiency projects.
The loan comes with a monthly interest rate of 0.52%, depending on the amount, term, credit score, among others, and it can be extended to both clients and non-clients of BancoEstado, according to the Chilean energy ministry, which along with the ministries of finance and the environment, supported the initiative.
Loan applicants can expect to receive financing for the total value of the home project, delay the payment of the first instalment for up to 90 days and even skip payments twice a year. The projects that will be supported include thermal insulation, the installation of solar arrays, air-conditioning and efficient ventilation systems.
All projects have to be certified by Agencia de Sostenibilidad Energetica, a Chilean non-profit organisation that promotes the efficient use of energy, the energy ministry said.