With an increased budget of 40%, which has the potential to increase even more, and with increased grants by 50%, the Sponsorship Plan for thermal insulation of the roof and installation of photovoltaics in homes is announced in the near future. The available budget for the years 2022-2023 is expected to exceed € 20 million and has been secured by the “Cyprus_tomorrow” Recovery and Sustainability Plan. Yesterday, May 24, 2022, the Ministry of Energy, Trade and Industry (YEEB), presented the new plan in an online conference.
The Minister of Energy, Natasa Pileidou, in her intervention, stressed that the increase of the budget and the improvement of the provisions of the Plan, fall within the huge effort made by the Government to support the households to reduce their energy costs. According to the Minister, the plan will help even more citizens to proceed with the installation of photovoltaics and implement energy saving measures, in order to reduce the cost of the electricity bill. “At the same time,” he said, “increasing the penetration of RES and the energy upgrading of buildings, contribute to the implementation of the objectives of the National Strategy for the rapid transition to green energy, which provides, inter alia, for the gradual decoupling from fossil fuels and reducing greenhouse gas emissions “.
The Sponsorship Plan to encourage the use of RES and FDI in existing homes will have retroactive effect, in a way that ensures the smooth continuation of the respective previous Plan that had expired on 12/20/2021. Duration of implementation until 20/12/2023 or until the available budget is exhausted.
According to the official of the Energy Service George Tsiamettis, the Plan, which is under the final approval of the competent bodies involved in the Recovery and Sustainability Plan, will provide sponsorship for the installation of photovoltaic system in existing homes and/or for thermal insulation of the roof.
& # 8211; Beneficiaries are natural persons.
& # 8211; The installation of photovoltaics concerns buildings that have obtained a building permit or an urban planning permit before 1/1/2017. Each kilowatt is subsidized with € 375 and the total sponsorship that can be secured amounts to € 1,500. As part of the policy to support mountain communities, the amounts are increased by 50%. Vulnerable households are subsidized with € 1000 per KW, with a maximum sponsorship amount of € 5,000.
& # 8211; The thermal insulation of the roof concerns buildings that have obtained a building permit or an urban planning permit before 12/12/2007. The sponsorship can amount to 45% of the eligible costs, with a maximum sponsorship amount of € 2,250. As part of the policy to support mountain communities, the amounts are increased by 50%.
& # 8211; The combination of the two, ie installation of photovoltaics and thermal insulation of the roof, concerns buildings with a building permit or an urban planning permit before 12/12/2007. In this case, for the thermal insulation of the roof, 55% of the eligible costs are covered with a maximum sponsorship amount of € 2,750 and for the installation of a photovoltaic system, an amount of € 450 per installed KW is subsidized, with a maximum sponsorship amount of € 1,800. As part of the policy to support mountain communities, the amounts are increased by 50%.
As Mr. Tsiametis noted, the Plan will be implemented by the RES and FDI Fund and in the new announcement the sponsorships are increased by 50%, while the amounts granted to both vulnerable households and mountain communities are increased. Citing specific examples of the effectiveness of the measures, he stated that:
& # 8211; In an indicative house with a roof area of 130 sq.m. in which the roof will be thermally insulated based on the required criteria
Plan at a cost of € 5,600, it is estimated that there will be annual energy savings equivalent to 6,782 Kwh, which corresponds to an amount of € 1,300/year. Based on the amount of the sponsorship estimated at € 2,250 and for the highlanders at € 3,375, the amortization can be done in 2.5 and 1.7 years respectively.
& # 8211; The installation of a 4 KW photovoltaic system with an indicative investment cost of € 5,000 and an annual network usage cost of € 360 per year, can lead to savings in the electricity bill of € 800 per year. With an estimated sponsorship of € 1,500 and in the mountains € 2,250, the amortization will take place in 4.5 and 3.5 years respectively.
& # 8211; The indicative cost for carrying out the combination of both investments, ie roof thermal insulation and photovoltaics amounts to € 10 thousand. With a sponsorship of € 4,450 and in the mountains € 6,825, the depreciation will be done in 3.5 and 2 years respectively after savings energy consumption of € 1,500 per year.
€ 600 thousand for solar water heaters
The participants in the meeting were also informed about the plan of sponsorships amounting to € 600 thousand – increased by 35% – for installation or replacement of solar hot water production systems in homes, which was announced from May 10, 2022.
The beneficiaries of the project are exclusively natural persons and the aid concerns investments in existing houses in which the application for a building permit or urban planning permit was submitted before 21.12.2007.
The project grants integrated solar systems (cylinder and solar panels), which are installed by certified installers.
The amount of the sponsorship is € 450 per house/system (from € 350 last year). # 8211; increase of 28.5%), while for houses falling in the mountainous areas the amount doubles and reaches € 900 (from € 700 last year – increase of 28.5%).
Note that solar hot water systems can provide 70% of the annual hot water need for a home, without
no operating costs and with minimal maintenance, significantly contributing to the reduction of electricity costs.
Video of the day is posted on the YouTube channel of the Ministry of Energy, Trade and Industry, where you can find out about all the Provisions of the Plan.
You can download the presentations from our website www.meci.gov.cy, where the Plan Guide will be posted soon.
50 % increase in sponsorships to encourage the installation of photovoltaics and thermal insulation of the roof
- Sponsorships in excess of € 20 million for the years 2022-2023. Budget increased by 40% with the prospect of further strengthening
- Significantly increased sponsorships for mountain communities and vulnerable households that significantly reduce the payback time of the investment
SEE THE PRESENTATIONS:
final_ENERGY UPGRADE_MINISTER'S PRESENTATION 24.5.22
FINAL_Presentation by G. Tsiametti_ Fund Sponsorship Plans