[PIO] The budget for photovoltaics and roof insulation doubles to €30 million for the years 2022-2023

1. 50% increase in sponsorships. The budget of the Grants Scheme for the installation of photovoltaic panels and roof insulation in homes for the years 2022-2023 is increased to €30 million, with the application process starting today and remaining in force until 20/12/2023 or until the budget is exhausted, whichever comes first.[/P]

   The doubling of the budget compared to previous years was decided as part of the government's package of measures to relieve citizens from inflationary pressures.

   The doubling of the budget compared to previous years was decided as part of the government's package of measures to relieve citizens from inflationary pressures. It is estimated that more than 10,000 applicants will benefit from the sponsorship, who, by making the relevant investments, will significantly reduce their energy costs.

   In addition to the doubling of the budget, the Scheme is being launched this year with significant increases in sponsorship compared to the Schemes implemented in previous years, with the aim of providing even greater support to citizens. In particular, grants are increased by 50%. An important differentiation is the introduction of Virtual Net Metering, for consumers who cannot, due to technical limitations, install photovoltaic systems on the roofs of their homes.

   The Scheme will cover the following categories of investments:

   CATEGORY 1: Thermal insulation of roofs of existing dwellings. A grant of 45% of the eligible costs of each application/housing is foreseen, with a maximum grant amount per application of €2,250. For residents of mountain communities the amounts are increased by 50%.

   CATEGORY 2: Thermal insulation of roofs of existing dwellings in combination with the installation of a photovoltaic system using the method of net metering or virtual net metering. A grant of 55% of the eligible costs for roof insulation is foreseen, with a maximum grant of €2,750 and funding of €450 per kW of PV system installed, with a maximum grant of €1,800. The maximum grant amount per application can be up to €4,550. For residents of mountain communities the amounts are increased by 50%.

   CATEGORY 3: Installation of a photovoltaic system using the method of Net Metering or Virtual Net Metering in existing dwellings. The amount of the grant is €375 per installed kW of photovoltaic system, with a maximum grant amount of €1,500 (CATEGORY 3A). For residents of mountain communities the amounts are increased by 50%. The amount is increased to €1,000 per installed kW of photovoltaic system for the dwellings of vulnerable consumers, with a maximum grant amount of €5,000 (CATEGORY 3B).

   Eligible are existing dwellings for which the application for a building permit or planning permission has been submitted:

   - for CATEGORIES 1 and 2 before 21/12/2007. - for CATEGORIES 3A and 3B before 01/01/2017.

   The Plan has retrospective effect to ensure the smooth continuation of the previous 2021 Plan. Therefore, investments made after and including 01/08/2021 are eligible. Investments made before 01/08/2021 are not eligible.

   All information on the Plan, including the Plan Guide and the application process, is available on the Renewable Energy and EE Fund's website: www.resecfund.org.cy.

   (MB/IK)
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