- The Federal Ministry of Economics promises low-interest loans for house builders who want to build a solar system via the Kreditanstalt für Wiederaufbau, or KfW for short.
- However, the funding is only a matter of theory, most banks do not give this loan – it is considered uneconomical.
- In the end, the KfW funding is a mirage.
In order to promote the expansion of photovoltaics, the Ministry of Economic Affairs promises attractive, low-interest promotional loans for house builders who want to put a solar system on their house through the Kreditanstalt für Wiederaufbau (KfW). In fact, for many normal consumers, the program only exists on paper: they have to finance the energy transition alone – it’s Habeck’s big subsidy fake.
Feigned generosity
Three weeks ago, Robert Habeck announced the new strategy for promoting photovoltaics. The clear goal is to accelerate the expansion of solar energy in order to counteract rising energy prices, ongoing inflation and the war in Ukraine. “We need more speed in the expansion of solar energy,” was the minister’s simple assessment. And indeed: many homeowners are now considering buying a photovoltaic system in order to reduce their energy costs. In addition to bureaucratic hurdles, many quickly face the question of costs: How should one pay for the financing of the solar systems, which cost around 30,000 euros for a typical single-family house?
In order to facilitate the question of financing, the state development bank Kreditanstalt für Wiederaufbau (KfW) has launched the funding program 270, which promises state-subsidized development loans for companies, freelancers and private households who need a biogas plant, wind turbines or a solar system. In the best case, a KfW loan would currently only cost a little more than four percent interest, which would lead to considerable savings over a typical term of ten years compared to a regular bank loan. had about it ntv first reported.
Funding program only exists in theory
Sounds great, but it’s just not available to many ordinary users. A fake.
Because most homeowners find it impossible to obtain such a loan. A bank advisor said ntv: „Not a single one of the more than 500 financial institutions with which he works across Germany offers KfW 270 promotional loans – neither DSL Bank, Commerzbank, DKB, Sparda Bank, Bausparkasse Schwäbisch-Hall nor many larger savings banks and Volksbanks.” Reason: The loans are uneconomical for banks. And in the end, it is the financial institutions that decide on the approval of the loans and not the state development bank KfW.
The previous funding from KfW shows that the funding program is not balanced: last year only 2.1 billion euros were invested in the expansion of solar energy, reports ntv. 80 percent of this sum flowed into just 400 major projects. 75,000 was the average funding amount. Means: The big investors, who have enough money anyway, are promoted. So if you build yourself, you will receive the least funding and essentially have to finance your project completely yourself. Because of fair promotion. For the ambitious goals in the expansion of solar energy, Minister Habeck needs the willingness of the house builders. However, they are left to their own devices.
The subsidy program of the state bank KfW is therefore a fake, a fake intended to give courageous homeowners the impression: Hey, we support you! In the end, the reality is bitter: KfW has no branches where you can apply for the loans directly. So as long as nobody grants these loans, the support program does not actually exist. So no help from Economics Minister Habeck.
2023-05-30 23:59:47
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