A subsidy program for roof-mounted solar panels, made available over the past few months and so far attracting a few thousand residential consumers, has lacked funding and been implemented in unappealing fashion, market officials have noted.

Though not negligible, the subsidy program’s first wave of applicants has not been as big as had been expected, lack of immediate funding availability being the main weakness, officials have asserted.

The support program has been designed to partially subsidize the cost of PV panels and almost fully subsidize the cost of accompanying battery installations.

However, subsidies are not offered to applicants until after the installation of PV and battery systems. The absence of early payments has made such projects prohibitive for many interested parties.

In addition, companies installing such PV and battery systems have hesitated to assume the cost of PV and battery projects on behalf of customers before being reimbursed with subsidy payments at latter dates as the extent of  subsidy delays has remained unclear.

Higher borrowing costs have also been detrimental, all of which has contributed to subduing the sector’s growth.