Filenews 21 December 2023
The "Subsidy Scheme to encourage the use of Renewable Energy Sources and Energy Saving in Homes 2022-23" is extended, while sponsorships for vulnerable consumers are also increased.
Specifically, the grant for the installation of a photovoltaic system in homes of vulnerable electricity consumers is increased to €1,250 per kW, while the Scheme will remain in force until the announcement of the new Subsidy Scheme, in order to safeguard citizens who will now implement similar investments.
The Council of Ministers approved during its last meeting, yesterday, Wednesday, December 20, 2023, following a proposal by the Minister of Energy, Commerce and Industry, an increase in the amount of subsidy for the installation of a photovoltaic system in homes of vulnerable electricity consumers, which concerns CATEGORY 3B of the "Subsidy Scheme to encourage the use of RES and Energy Saving in residences 2022-23". The Plan is co-financed by the RES and EE Fund and the Recovery and Resilience Plan "Cyprus for Tomorrow".
The amount of the grant for homes where vulnerable electricity consumers reside is increased from €1,000 to €1,250 per installed kW of photovoltaic, with a maximum grant amount of €6,250 (instead of €5,000 previously in force). The sponsorship amount has been calculated based on historical data, so that it approaches 100% of the sponsorship.
In addition, for the purposes of the proper functioning of the market and equal treatment of all applicants, the Council of Ministers has decided to extend the existing "Subsidy Scheme to encourage the use of Renewable Energy Sources and Energy Saving in homes" until its smooth replacement by a new Subsidy Scheme, which is expected to be announced in early 2024. It is reminded that a decision has already been taken to prepare an upgraded Subsidy Scheme, which will include the new category "Photovoltaics for All".
Specifically, the extension of the duration of receipt of applications for the existing Scheme has been modified as follows:
– For CATEGORY 1 of the Subsidy Scheme (Roof Thermal Insulation): extension of the submission of applications until 1 month after the approval of the new Subsidy Scheme.
– For CATEGORY 2 of the Subsidy Scheme (Roof Thermal Insulation in combination with Photovoltaic System Installation): extension of submission of applications up to 3 months after the approval of the new Subsidy Scheme.
– For CATEGORY 3A of the Subsidy Scheme (Installation of Photovoltaic System – General Category): extension of the submission of applications up to 3 months after the approval of the new Subsidy Scheme.
– For CATEGORY 3B of the Subsidy Scheme (Installation of a Photovoltaic System in homes of vulnerable consumers): extension of the submission of applications until the approval of the new Subsidy Scheme.
The extension is necessary to safeguard all citizens who will proceed with the implementation of a corresponding investment until the approval of the new Subsidy Scheme as well as to achieve the objectives of the Cyprus Recovery and Resilience Plan. The decision has been taken in consultation with the Coordinating Authority of the Recovery and Resilience Plan.
