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It is with great pleasure that I address the annual General Assembly of the Pancyprian Association of Energy Saving Enterprises and on this occasion, I would like to congratulate and thank you warmly for your cooperation with the Ministry and your significant contribution in the field of energy saving. I am confident that this fruitful cooperation will continue, since its primary objective is to provide practical support to Cypriot businesses in order to contribute to improving their energy efficiency.
The main pillars of the energy policy implemented by our Ministry are aimed at enhancing the security of energy supply, ending energy isolation, and promoting the functioning of the competitive electricity market and the internal gas market. At the same time, we are working to reduce energy costs for all consumers, further exploiting our national potential in renewable energy sources and promoting energy efficiency investments.
As you know, the new targets that our country must achieve by 2030 for energy efficiency and for renewable energy sources are particularly high. In particular, the penetration rate of RES in the national gross final energy consumption must be increased to 33%, while the country's primary energy consumption in 2030 must not exceed 2.03 million tonnes. In addition, the national mandatory target for cumulative end-use energy savings has been increased to 347.9 thousand tonnes of oil equivalent (TEP), an increase of 43% compared to the previous target.
Also extremely important is the obligation to apply the "energy efficiency priority principle" for large investments that will have an impact on consumption or energy supply, as well as the new obligations imposed through the recently revised European Directives, which impose new targets and legislative measures to improve energy efficiency in existing buildings. The reduction in final and primary consumption will be achieved through the implementation of measures already launched, but also through additional measures and policies to be included in 2024 in the final National Energy and Climate Plan, following consultation with all stakeholders and civil society.
The Ministry of Energy, Trade and Industry has announced Grant Schemes, through the RES and EE Fund, with a total budget of more than 215 million for the years 2022-2025. These Schemes are proving to be extremely popular and include sponsorship for investments in roof insulation and installation of photovoltaic systems in residential buildings, replacement of solar water heating systems, charging of electric vehicles from renewable energy sources, as well as energy upgrading of local government buildings and infrastructure. The RES and EE Fund now receives and processes, on average, over 1,500 applications per month, while for vulnerable consumers sponsorships are significantly increased.
Also, as has been announced, the new Sponsorship Scheme to encourage renewable energy and energy saving in homes includes a "Photovoltaics for All" category, which will provide electricity consumers who do not have the equity to install photovoltaic systems with the opportunity to repay the investment through instalments paid through their electricity bill. In addition, there will be a new category concerning the installation of thermal roof insulation in dwellings where vulnerable consumers with high aid intensity reside.
It is worth pointing out that this Scheme, which also concerns thermal roof insulation combined with the installation of photovoltaic systems for own consumption through net-metering and net-billing, contributes substantially to the reduction of consumers' costs for energy purposes. This is achieved first by reducing the energy needs for space heating and cooling due to the thermal insulation and, subsequently, by covering part of the remaining needs by utilizing renewable energy sources through the photovoltaic system
Dear friends, dear friends,
To accelerate the green transition, but also to provide practical support to households and businesses, our Ministry has also secured European and national resources amounting to €370 million for the programming period until 2027. Most of these funds are granted as aid through Grant Schemes, which, in addition to green development, also contribute to strengthening the local economy, as they benefit, directly or indirectly, businesses operating in the construction and green energy sectors.
Among others, the "Save and Upgrade in Businesses and Non-Profit Organizations" Scheme is important, which concerns the energy upgrade of buildings and equipment of businesses and the installation of green energy systems.
Among others, the "Save and Upgrade in Businesses and Non-Profit Organizations" Scheme is important, which concerns the energy upgrade of buildings and equipment of businesses and the installation of green energy systems. Already the Residential Project has been supported with an additional budget, while the SME Project is being modified to improve it in order to attract more interest. At the same time, a new scheme for large enterprises is being launched.
At this point I would like to mention that alongside the Grant Schemes, we are also implementing a number of other measures and policies that contribute to reducing energy consumption, such as the creation of a One-Stop-Shop to facilitate energy renovation projects and the licensing of renewable energy projects, the imposition of obligations on large energy distributors to achieve an annual target with measures for the benefit of consumers, the installation of smart meters for electricity, the replacement of the energy supply system, and the introduction of a number of other measures and policies that contribute to reducing energy consumption. In addition, a number of measures are being implemented in the transport, water and public buildings sectors, while the state is already launching other measures such as, for example, a bill on tax exemptions for companies carrying out energy upgrades and the fiscally neutral green tax reform.
At the same time, our efforts to further support energy-poor households are being stepped up. Technical assistance is already being received from the European Commission to define energy poverty in Cyprus, based on criteria that will not only be related to low income, but also to the energy efficiency of homes. Our aim is to identify energy poor consumers and any new measures can be tailored to their measures.
Ladies and gentlemen,
It is understandable that most businesses in Cyprus do not possess the specialised knowledge to be able to understand the multiple benefits that a comprehensive energy renovation project can bring. Such projects contribute, at the same time as saving energy and money, to increasing the value of the building or premises, shielding it from constant climate fluctuations, improving thermal comfort and increasing productivity and occupational health. The expertise of Energy Service Providers (also known as ESCOs) and the energy efficiency contracts they enter into, offering a package of implementation measures with payback based on actual energy savings, make them necessary to address the challenges associated with energy efficiency projects. The Ministry is already proceeding with the preparation of standard procedures for the tender and implementation of such projects by public entities, and intends to make changes to the Grant Schemes for residential and business in a way that will also facilitate such projects.
At this point, I would like to thank you, once again, for your valuable contribution to the efforts being made to achieve our country's goals towards a greener economy. Joint effort, mutual information and continuous cooperation are perhaps the most important means to lead us more quickly and safely to climate neutrality.
Thank you.
(GA)
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