- Proposal of the Ministry of Energy was approved today by the Council of Ministers
- The budget of the Plan is increased from €600 thousand to €950 thousand.
- The number of applications that can be covered by the Scheme will be increased by 500 to 1,800
Increase of the budget of the "Grant Scheme for the Installation or Replacement of Solar Hot Water Production Systems for Domestic Hot Water Use 2022" to €950 thousand. The Council of Ministers approved today, Wednesday 6 July 2022, following a proposal by the Ministry of Energy, Trade and Industry.
The increase of the budget by €350 thousand was deemed necessary due to the huge interest shown in the Project, which resulted in the exhaustion, within two months, of the available funds. It is estimated that the increase in the amount will bring a further 500 households into the scheme, bringing the total number of applications that can be met to 1 800. The additional financial needs will be covered by savings in the budget of the RES and EE Fund.
It is recalled that the Scheme, which falls under the Ministry's strategic plan for a rapid transition to green energy, has been launched this year with significant variations compared to the Schemes implemented in previous years, with the aim of enhancing its effectiveness. Among the changes that have been made is that now only integrated solar systems (cylinder and solar panels), whose installation is carried out by certified installers, are subsidized.
In addition, the total budget of the Plan has been increased by 35%, with a parallel, significant increase in the amount of sponsorship. Specifically, the amount of the grant is €450 per house/system (up from €350 euros last year - an increase of 28.5%), while for houses in mountainous areas the amount is doubled to €900 (up from €700 last year - an increase of 28.5%).
In more detail, under the Plan, subsidies are granted to:
- Integrated water heating systems (cylinder and panels) of which.
- The hot water cylinder is energy class B or higher for capacities up to 200Lt or energy class C or higher for capacities greater than 200Lt.
- Only installations of solar systems carried out by certified installers registered in the Register of Installers of Small Scale Renewable Energy Systems - Category D: Installers of Solar Thermal Systems are eligible. Installations carried out by persons not included in the Register referred to above are not eligible for a grant.
Solar hot water systems can provide approximately 70% of the annual hot water requirement for a dwelling, at no operating cost and with minimal maintenance, contributing significantly to reducing energy costs.
The Scheme is not retroactive and the grant will only be awarded for equipment purchased and installed after the date of the Scheme notice.
All information about the Scheme, including the Scheme Guide and the application procedure, is available on the website of the RES and EE Fund: www.resecfund.org.cy
The application procedure for this Scheme will remain in force until 01.10.2022 or until the final submission of 1,800 applications, whichever comes first.
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