Posts Tagged ‘tender’

Israeli Bank Loans for Solar Energy Systems

Thursday, July 24th, 2008

Hi Everyone!

Thanks to all those that wrote to me with comments, suggestions and well-wishes regarding the launch of the new solar energy website. Many of the suggestions included links to additional solar energy companies in Israel and additional resouce links. I added them to the companies and links pages on the website. I plan on adding additional resources to the site as they come in.
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During the past 3 weeks since the new electric feed-in tariffs were announced, interest in purchasing solar energy systems in Israel has increased. However, the cost for a residential system is still expensive (around 75,000 shekels).  Banks are now beginning to offer long term loans for purchasing a solar (photovoltaic) energy system for your home or business.

I contacted Bank Hapoalim this week to get the specifics about the loans available. Here is what they said:

For private individuals the official loan terms are:
up to NIS 110,000
up to 10 years
Interest rate is floating rate at Prime + 2%.
(the prime rate is currently 5.25%)
All terms and security/collateral arrangements need to be finalized with the branch involved.

I assume that many of the other banks will be offering similar loans. If you apply for such a loan and the terms are better, please let me know so I can tell everyone.
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Several people emailed me about a company in Israel that is planning to build affordable solar homes in Israel. The company called Real Housing Ltd. already contstructed  a 70 square meter model home in Ashalim, Ramat Negev. To reduce the need to turn on energy-using equipment these houses will be well insulated. They will be heated and cooled using high-efficiency heat pumps and they will integrate solar pannels (for electricty and hot water) into the roofing system. As the projects develop I will keep everyone posted on the developments.
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Last but not least, if you read the large-scale power plants faq on the site, you  already know that Israeli companies have been in the forefront of developing large scale energy systems using parabolic trough collectors.
As in many advanced technologies that Israel exports, implementing these technologies within Israel has been a struggle both on the economic side and there have been various bureaucratic government obstacles.
After many years of delays, early this year the Israel Ministry of National Infrastructure issued the application for the first tender for developing large scale solar power stations for the production of electricity. The solar power plants will be constructed at Ashelim in the Negev. Many companies around the world have shown an interest in this tender. Let’s hope that the project stays on course and part of our electric needs will be generated by these new plants.
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If anyone has started the process of purchasing a home solar system, please let me know. I am sure everyone would like to know the exact steps and procedures that are actually involved in buying and installing these systems in Israel. Thanks!
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It is time to end this long first posting.
Feedback and suggestions are always welcome.

Until next week…….

Shabbat Shalom,
Jacob