Filenews 9 November 2023
Details of the new Subsidy Scheme of the RES and EE Fund "Photovoltaics for All", with a budget of €30 million, which will be announced in early 2024, were given by the Minister of Energy at a press conference given at the Ministry, in the presence of the Chairman of the Board of Directors of EAC as well as the Director General of the Authority.
As Mr. Papanastasiou explained, the plan is the most important part of the evolution of the existing Subsidy Scheme for the promotion of photovoltaic systems and for thermal insulation of roofs in homes, the implementation of which will be extended until its re-announcement in early 2024.
The aim of the Plan is to enable the installation of a photovoltaic system to all residential consumers, creating the new category "Photovoltaics for All" that will allow those owners of existing homes who do not have the initial capital, to install a photovoltaic system up to 4.16 kW in their home (corresponding to the consumption of an average household – total consumption in the previous year ≈ 6,000 kWh).
Applicants for the category "Photovoltaics for All" will receive pre-approval and will be able to proceed with the installation without initial capital and with savings from the first day of connection, when the repayment of the system will begin with bimonthly charges of €150 through the electricity bill.
In fact, a specialized computerized system will be created by the RES and EX Fund for the recording of receipts, which applicants will be able to use to monitor the repayment details of their system.
The EAC President also addressed a brief greeting at the press conference, which, among other things, explained that the Authority, "in close and productive cooperation with the Ministry of Energy, has appointed a Special Team" for the implementation of the "Photovoltaics for All" Scheme.
"The transition to green energy," Theodosiou added, "is a vital challenge for Cyprus, but also for every member state of the European Union. It is about a better and more sustainable future for our society and economy. The 'Photovoltaics for All' Plan is a bold and essential step towards this common goal," he concluded.
