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KASIKORNBANK, in partnership with Huawei Technologies Co., Ltd., embraces the growing ‘green’ trend by launching its ‘green loan’ to drive a greener society. The loan will support the green ecosystem from upstream to downstream operations including contractors, homeowners, and business owners. This project aims to install solar rooftops in 30,000 homes to lower electric bills and help reduce greenhouse gas emissions by 265,000 metric tons within one year.
Mr. Pipit Aneaknithi, President, KASIKORNBANK revealed, “After KASIKORNBANK launched the ‘GO GREEN Together’ project in February, we have been receiving increased interest from customers, especially from electric car and solar roof prospects, reflecting consumers’ changing demands. This is also in line with Kasikorn Research Center’s forecast that by 2022, solar roof installations in the business sector will grow to 125.9 MV, an increase of 54% from the previous year. The demand from the household sector is expected to increase due to growing demands from real estate developers’ new housing projects while more consumers are increasingly concerned about ‘Going Green’ trends and higher electric bills.”
The collaboration between KBank and Huawei, the leading digital power supplier with a network of highly specialized solar rooftop installers, will bring both financial assistance and innovative products to support the green ecosystem from upstream to downstream, including solar rooftop contractors, homeowners, and business owners. By taking these collaborative actions to save the world, each household can save up to 36,000 Thai Baht annually on electric bills after deploying 5kW solar rooftop installations at home.
Mr Abel Deng, the CEO, of Huawei Technologies (Thailand) Co., Ltd., said, “This collaboration truly combines each partner’s expertise to drive the green economy in Thailand. Huawei is in the leading position in technology and innovation, especially in digital power solutions, while KBank is a leading financial solutions provider. Together, we are able to provide a variety of financial solutions to support the green economy development while stimulating the rooftop solar market in Thailand as well as facilitating consumer solar photovoltaic systems installation at home with special offers or credit solutions from KBank.”
“We are willing to join KBank to build more showcases in the Thai market for the other leading real estate developers. Huawei will encourage installers nationwide to cooperate with KBank and local shopping malls to conduct onsite roadshows in order to educate people about Huawei’s residential PV and KBank’s ‘GO GREEN Together’ project. We will work with our partners to provide both offline and online technology training, on a weekly basis, to help electrical engineering team enhancing their expertise in design, installation and maintenance. KBank will also provide training for our partners to better understand about financial services which will help end-users to access investment.”
Nowadays, more households in Thailand are shifting to solar roof solutions in order to save on their electricity bills. The market trends indicate that during 2022, over 80,000 households will install solar rooftops to help reduce electricity costs, while the average payback period for solar roof solutions in Thailand is approximately 5 years. Consumers who choose to finance their solar system installation with KBank, which offers up to 30 years of instalment, will not only save their electricity costs significantly but also receive Huawei’s efficient and reliable inverter solutions, which enable them to monitor their electricity usage via a mobile application. This is another way for consumers to support the country’s low-carbon development mission.
Huawei continues to invest extensively in research and development to reduce the carbon footprint of E2E products and services by more than 80% compared to other products of the same capacity. Huawei also aims to develop its products to achieve 2.7 times more energy efficiency. With combined digital and electronic technologies, Huawei develops innovative digital power solutions that allow the most efficient use of energy and reduce CO2 emissions from ICT infrastructure. In 2021, Huawei has helped customers around the world reduce CO2 emissions by 230 million metric tons.
Mr Pipit added more details about this collaboration on the ‘Green Loan’ to support Thailand’s green ecosystem as follows:
- For rooftop solar contractors, KBank will support them with credit loans to increase their business liquidity and capacity so that they can continue their solar rooftop installation projects without interruption. The bank will also provide credit solutions for contractors who install solar systems for buildings and sell electricity to building owners in the long-term period.
- For homeowners, KBank will support them with credit loans for solar rooftop installation. Special promotions include interest-free payment for up to 3 months and a maximum term of a 30-year instalment. In the future, there will be options to pay via credit card to increase convenience for customers.
- For business owners, KBank will financially support businesses to install solar rooftop systems with a special promotion of interest-free payment for 3 months, and a maximum term of 8-year instalments.
The partnership between KBank and Huawei will drive the growth of the green ecosystem, encourage customers to protect the environment, support more usage of solar energy usage, and help Thailand achieve a net-zero carbon mission. Similarly, this collaboration aims to equip 30,000 houses with solar roofs within a year, resulting in the deduction of over 265,000 tons of carbon emissions or the plantation of 33 million trees.