Filenews 10 September 2023 - by Chrysanthos Manoli
Phileleftheros reports that EAC has completed its study and come up with a specific plan to financially support hundreds or even thousands (at a later stage) of households that want to install rooftop photovoltaics to reduce electricity costs and do not have the necessary capital for the purchase.
The same information indicates that the plan reached by the EAC Board of Directors provides for direct financing-subsidy of households that will meet the criteria, with an amount of up to €2,400, for the installation of photovoltaic power up to 4.2 kilowatts.
The implementation of the plan should not be considered final, as the Board of Directors is informed that it has informed the Ministry of Energy in writing and is awaiting its own position in order to proceed with the next steps.
What EAC wants to promote is different from what Energy Minister George Papanastasiou had suggested, so it is interesting to know whether the Authority's proposal will be accepted by the Ministry.
Mr. Papanastasiou had proposed that EAC cooperate with banks in order to secure loans to finance the purchase of photovoltaics for homes, without the payment of capital by households.
The repayment of the loan would be made through the payment of electricity bills, since households that would benefit from the scheme would save money from reduced electricity consumption by the EAC network.
The plan promoted by EAC foresees that the Electricity Authority will finance from its own funds the installation of photovoltaics with a capacity of up to 4.2 kilowatts, in households with an annual consumption of up to 6,000 kilowatt hours, which is considered consumption corresponding to an average household.
In order for someone to calculate how much subsidy he can get from EAC, he must decide how many kilowatts will be the photovoltaic system he will choose (as well as the purchase cost) but he must also apply for and secure the subsidy offered by the Ministry of Energy for photovoltaics.
If he obtains the state's subsidy, which currently amounts to €375 per kilowatt, with a maximum amount of €1,500, then EAC will grant him €600 for each kilowatt he installs, in order to cover a maximum amount of €2,400 to pay the remaining cost of the installation.
The photovoltaics that will be subsidized by EAC will be included in the net billing scheme and not in net metering, so that the surplus energy production per premises will be purchased by EAC at the respective purchase price from RES, which is currently 11 cents per kilowatt hour, following a decision by CERA.
Given that 11 cents per kilowatt hour is a lower price than the fuel cost used by EAC for electricity production, it follows that the purchase of household photovoltaic electricity of this plan will lead through bills to some benefit for all consumers.
EAC wants to implement this plan from 1/1/2024, for one year on a pilot basis, at a total cost of €5 million. It estimates that it will be able to help 1,200 to 1,300 households.
This means that the... unless the Government adds funds to the capital that EAC will allocate from its reserves (e.g. from its revenues from the sale of emission rights), so that even more households will benefit.
The cost of EAC will not be recovered through tariffs from other consumers. VAT will be charged to the applicants.
