The budget of the Sponsorship Plan for installation of photovoltaics and thermal insulation of houses in houses for the years 2022-2023 is increased to € 30 million, with the application process starting from June 1 and remaining in force until December 20, 2023 or until exhaustion whichever comes first.
A Communication from the GIP states that the doubling of the budget compared to previous years was decided within the framework of the package of measures to relieve citizens from inflationary pressures.
It is added that the sponsorship will benefit more than 10,000 applicants, who, by making the relevant investments, will significantly reduce their energy costs.
As mentioned, in addition to doubling the budget, the Plan is announced this year with significant increases in sponsorships compared to the Plans implemented in previous years, with the aim of even greater support for citizens.
Specifically, it is reported that the subsidies are increased by 50% and it is added that a significant difference is the introduction of virtual metering (Virtual Net Metering), for consumers who can not, due to technical limitations, install photovoltaic systems on the roofs of their homes. .
It is also stated that the Plan has retroactive effect in order to ensure the smooth continuation of the previous Plan of 2021 and “therefore, investments made after 01/08/2021 are eligible, including.
Investments made before 01/08/2021, are not eligible, it is added.
According to the announcement, the Plan will cover the following categories of investments:
CATEGORY 1: Thermal insulation of ceilings of existing houses.
A sponsorship of 45% of the eligible costs of each application/residence is provided, with a maximum sponsorship amount per application of € 2,250. For the residents of mountain communities the amounts increase by 50%.
CATEGORY 2: Thermal insulation of roofs of existing houses in combination with the installation of a photovoltaic system with the method of Net Metering or Virtual Net Metering.
A sponsorship of 55% of the eligible costs for the thermal insulation of the roof is provided, with a maximum sponsorship amount of € 2,750 and funding of € 450 per installed kW photovoltaic system, with a maximum sponsorship amount of € 1,800. The maximum amount of sponsorship per application can reach € 4,550. For residents of mountain communities the amounts increase by 50%.
CATEGORY 3: Installation of photovoltaic system by the method of metering offset (Net Metering) or virtual metering offset (Virtual Net Metering) in existing homes.
The amount of sponsorship is € 375 per installed kW photovoltaic system, with a maximum sponsorship amount of € 1,500 (CATEGORY 3A).
For the residents of mountain communities the amounts increase by 50%. The amount increases to € 1,000 per installed kW of photovoltaics for the homes of vulnerable consumers, with a maximum sponsorship amount of € 5,000 (CATEGORY 3B).
According to the official announcement, eligible existing residences, for which the application for a building permit or urban planning permit has been submitted:
– for CATEGORIES 1 and 2 before 21/12/2007.
– for CATEGORIES 3A and 3B before 01/01/2017.
All information about the Plan, including the Guide Plan and the application process are posted on the RES and FDI Fund website: www.resecfund.org.cy.