The first announcement of the sponsorship plan “Save – Upgrade to Housing”, in the context of the strategy it promotes for the development of Renewable Energy Sources and Energy Saving, was announced by the Ministry of Energy, Trade and Industry.
According to a press release, the plan provides financial incentives for an extensive energy upgrade of existing energy-intensive homes. Specifically, the sponsorship rate amounts to 60% of the total eligible budget, while for vulnerable consumers the percentage increases to 80%, within the framework of the social policy of the State. The maximum amount of the sponsorship can range from 22 to 32 thousand euros, depending on the categories of investments. The plan covers thermal insulation, replacement of frames, installation of shading systems, installation or replacement of solar, photovoltaic, air conditioners, solar energy storage batteries, etc.
Beneficiaries of the project are natural persons, owners of existing homes located in the areas controlled by the Republic of Cyprus. A similar plan will be announced soon to cover homes located within the British Bases.
The first call concerns total sponsorships of € 30 million, out of a total of € 70 million which will be available throughout the new programming period 2021-27, three times more than in the previous period.
The “Save – Upgrade to Housing” project will remain open for a longer period of time, in order to give the beneficiaries the opportunity to prepare properly before submitting their applications. This is part of a series of innovations adopted during the new programming period 2021-2027, with the main focus being the electronic submission of applications and the simplified procedure for calculating sponsorship, without offers, invoices and receipts, in order to minimize the time for examining applications. .
It is noted that the “Save – Upgrade to Housing” Plan concerns exclusively the total energy upgrade of existing homes, with the implementation of a combination of measures and not individual investments. The sponsorship plans of the RES & EXE Fund concerning individual investments (thermal insulation of the roof, installation of photovoltaics, replacement of solar water heaters / frames), will be announced soon.
In total, the Ministry of Energy will finance RES and Energy Saving with an amount approaching € 200 million over the next seven years. Economic recovery with an additional € 200 million, will support, among other things, green growth and the circular economy, creating conditions of competitiveness and extroversion.
Those interested in the “Save – Upgrade Homes” Plan can contact the Industry and Technology Service at 22867190 or at sit@meci.gov.cy for any additional information.
