Erbil and Sulaymaniyah have launched a new push to expand solar energy use across homes and businesses. Authorities introduced low-interest loans to support solar panel installation. The program aims to ease pressure on the electricity grid and reduce harmful emissions.
The plan works in partnership with Region Trade Bank and includes financial support from the Central Bank. It offers loans between 7 million and 30 million dinars, or about $4,800 to $20,700. Borrowers can repay the loan over seven years, with an optional six-month grace period.
Residents and business owners in both cities can apply through the government’s official platform. The RT bank’s CEO, Ahmed Nowzad, emphasized the importance of this move. He said it helps people use clean energy and build a stronger economy at the same time.
Temperatures in the region often climb above 50°C during summer. This causes demand for electricity to spike. Despite large oil production, the region still suffers from frequent power outages. Officials now see solar energy as a smart solution.
More people are expected to apply for the program as awareness spreads. The initiative marks a step toward energy independence. It also encourages people to think green and reduce fossil fuel use.