Armenia to subsidize the purchase of energy storage systems for solar power plants
17.10.2026,
00:37
The Armenian government will subsidize interest rates on loans and leasing agreements for the purchase of energy storage systems, announced Gevorg Papoyan, Minister of Economy of the Republic of Armenia.
YEREVAN, October 17. /ARKA/. The Armenian government will subsidize interest rates on loans and leasing agreements for the purchase of energy storage systems, announced Gevorg Papoyan, Minister of Economy of the Republic of Armenia.
According to him, this new state support mechanism will enable owners of solar power plants to acquire storage systems to hold the electricity they generate for later use.
"If you own a solar power plant and wish to store the energy you produce, you can purchase storage systems by taking advantage of this new state support instrument a subsidy for interest rates on loans or leasing agreements," Papoyan stated in a video posted on social media.
The Minister explained that storage systems allow for a portion of the electricity generated by solar panels during the day to be saved for use at night.
Under the terms provided, for storage systems acquired via leasing, the state will subsidize the interest rate by 10 percentage points for financing in Armenian drams, and by 8 percentage points for financing in foreign currency.
For loans, the subsidy will amount to 8 and 6 percentage points, respectively. The subsidy period can extend up to 84 months (seven years).
According to him, this new state support mechanism will enable owners of solar power plants to acquire storage systems to hold the electricity they generate for later use.
"If you own a solar power plant and wish to store the energy you produce, you can purchase storage systems by taking advantage of this new state support instrument a subsidy for interest rates on loans or leasing agreements," Papoyan stated in a video posted on social media.
The Minister explained that storage systems allow for a portion of the electricity generated by solar panels during the day to be saved for use at night.
Under the terms provided, for storage systems acquired via leasing, the state will subsidize the interest rate by 10 percentage points for financing in Armenian drams, and by 8 percentage points for financing in foreign currency.
For loans, the subsidy will amount to 8 and 6 percentage points, respectively. The subsidy period can extend up to 84 months (seven years).
