The energy ministry on Tuesday formally announced details of proposed subsidy plans for use of renewable energy from rooftop installations and energy saving measures through insulation. The final plan has yet to be approved.
The 2024-2025 subsidy plan, to be financed from the state’s energy and resilience funds, aims to encourage the installation of rooftop PV panel systems and/or roof insulation on existing buildings.
The following categories are provided for:
–A1: General household subsidy of €375/kW up to €1,500 (4kW) with a 50 per cent increase for mountain regions.
–A2: Vulnerable households subsidy of €1,250/kW up to €6,250 (5kW).
–A3: ‘PVs for All’ subsidy €250/kW up to €1,000 (4kW) and investment payback of €1,000/kW, capped at €4,000 (4kW).
–B1: General rooftop insulation subsidy of 50 per cent, up to €2,500 and/or €25/m2 with a 50 per cent increase for mountain regions.
–B2: Vulnerable households rooftop insulation subsidy of 75 per cent up to €3,750 or €37.50/m2.
The ministry notes that the new scheme offers improved benefits compared with the corresponding scheme for 2022-2023, such as the ‘PVs for All’ category which enables the installation of a PV system for applicants without initial capital. The scheme also offers an increased subsidy rate for insulation for vulnerable households.
The application process has been simplified with reduced paperwork and documents required for submission, while notice of approval will be sent out by the installation company.
Installations must be carried out by registered installers who can be found in the “Participating Traders” list. All eligible applicants will receive pre-approval which will also speed up the process and enable closer monitoring of installation timeframes for providers.
The ministry also notes that the above outlined scheme is still pending and the final plan is set to be approved when the negotiation period ends.
The final date for submission of suggestions has been set for January 16 by 9am, Comments may be sent to gtsiamettis@meci.gov.cy and sioannou@meci.gov.cy.