[PIO] The Council of Ministers approved the "Grant Scheme to encourage the use of Renewable Energy Sources and Energy Saving in buildings".

The new Plan also includes the category A3 "Photovoltaics for All"

The Council of Ministers approved today, 25 January 2024, on the proposal of the Minister of Energy, Trade and Industry, Mr. George Papanastasiou, the new "Grant Scheme for Encouraging the Use of Renewable Energy Sources and Energy Saving in Housing 2024-25".

This Grant Scheme, to be implemented by the Renewable Energy Sources (RES) and Energy Saving (EE) Fund, provides for grants for the installation of photovoltaic systems and/or roof insulation in existing dwellings. The Scheme is co-financed by the RES and EE Fund and the Recovery and Resilience Plan "Cyprus_Tomorrow".

With the approval of the Scheme, the registration process of "Participating Traders" is expected to start in the coming days. The submission of applications is expected to start around the end of February, when the above process is completed.

The categories of the Plan are.

(1) Category A1: Photovoltaics - General Category with a grant of €375 per kW and a maximum grant amount of €1.500 (4kW) - 50% increase for mountainous areas,

(2) Category A2: Photovoltaic - Vulnerable Households with a grant of €1,250 per kW and a maximum grant amount of €6.250 (5kW),

(3) Category A3: Photovoltaics for All with a grant of €250 per kW and a maximum grant amount of €1,000 (4kW) and an additional investment repayment of €1,000 per kW with a maximum "repayment amount" of €4.000,

(4) Category B1: Ceiling insulation - General Category with a 50% grant and a maximum grant amount of €2,500 and/or €25.00 per m2. - 50% increase for mountainous areas,

(5) Category B2: Roof Insulation - Vulnerable Households with a 75% grant and a maximum grant amount of €3,750 or €37.50 per sq.m.,

(5) Category B2: Roof Insulation - Vulnerable Households with a 75% grant and a maximum grant amount of €3,750 or €37.50 per sq.m.

Compared to the corresponding Grant Scheme that was implemented in 2022-2023, the following important changes have been made in the new Grant Scheme:

1. Creation of the new Category A3: Photovoltaic for All with the possibility of installation of a photovoltaic system by citizens who do not have the initial capital.
2. Creation of the new special Category B2: Roof Insulation for Vulnerable Households A with increased sponsorship.
3. Provision for a one-off bonus of €750 if both types of investment (photovoltaic and roof insulation) are implemented in the same house.
4. Modification of the implementation and application procedure (applications will be processed electronically), with the aim of reducing bureaucracy for applicants and speeding up the time of payment of the grant.
5. The installations will be carried out by traders registered in the list of "Participating Traders". This will make it easier for applicants to submit the application and will also provide them with a 7-year commercial guarantee, which will enhance the viability of the investment.
6. All potential beneficiaries will receive pre-approval prior to the implementation of the investment, a procedure which ensures for the applicant the possibility of receiving a grant and for the promoter a greater possibility of control, while significantly speeding up the time of payment of the grant.

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