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A plan of sponsorships amounting to € 600 thousand for installation or replacement of solar hot water production systems in homes, was approved today, May 10, 2022, by the Council of Ministers following a proposal by the Minister of Energy, Trade and Industry Ms. Natasa Pileidou.
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The Plan, which will be implemented by the RES and FDI Fund and funded by the “Cyprus_Tomorrow” Recovery and Sustainability Plan, is part of the strategy for a rapid transition to green energy. 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.
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Based on the proposal of Ms. Pelidou, the Plan is announced this year with significant differences in relation to the Plans implemented in previous years, with the aim of enhancing its effectiveness. Among the changes that have been made is that only integrated solar systems (cylinder and solar panels) are now subsidized, which are installed by certified installers.
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In addition, the total budget of the Plan has been increased by 35% with a significant increase in the amount of sponsorship. Specifically, the amount of the sponsorship amounts to € 450 per house/system (from € 350 last year & # 8211; an increase of 28.5%), while for houses falling in the mountainous areas the amount doubles and reaches € 900 ( from € 700 last year – an increase of 28.5%).
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More specifically, under the Plan are subsidized:
- water heating systems (cylinder and chassis) of which:
- Solar panels are Solar K certified
- The hot water cylinder is of energy class B or higher if it has a capacity of up to 200Lt or energy class C or higher for a capacity of more than 200Lt.
- Only solar system installations are eligible, which are performed by certified installers registered in the Register of Small Scale RES Systems & # 8211; Category D: Installers of Solar Thermal Systems. Installations made by persons not included in the Register in question will not be eligible.
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It is noted that solar hot water systems can provide 70% of the annual need for hot water for a home, without any operating costs and with minimal maintenance, significantly contributing to the reduction of electricity costs.
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The Plan has no retroactive effect and the grant is given only for equipment that has been purchased and installed after the date of announcement of the Plan. It will remain open until 01/10/2022 or until the final submission of 1300 applications.
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All information about the Plan, including the Plan Guide and the application process, are posted on the RES and FDI Fund website: www.resecfund.org.cy
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