The budget of the Sponsorship Plan for the installation of photovoltaics and thermal insulation of houses in the houses 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 exhaustion of the budget, whichever comes first.
The doubling of the budget compared to previous years was decided within the framework of the government package of measures to relieve the citizens from the inflationary pressures. It is estimated that more than 10,000 applicants will benefit from the sponsorship, which, by making the relevant investments, will significantly reduce their energy costs.
In addition to doubling the budget, the Plan is announced this year with significant increases in sponsorships compared to the Plans implemented in previous years, with the aim of even greater support for citizens. Specifically, the grants are increased by 50%. An important difference is the introduction of virtual metering (Virtual Net Metering), for consumers who can not, due to technical limitations, install photovoltaic systems on the roofs of their homes.
The Plan will cover the following categories of investments:
CATEGORY 1 : Thermal insulation of roofs of existing houses. A sponsorship of 45% of the eligible costs of each application / residence is provided, with a maximum sponsorship amount per application of € 2,250. For the residents of mountain communities the amounts increase by 50%.
CATEGORY 2: Thermal insulation of roofs of existing houses in combination with the installation of a photovoltaic system with the method of offset measurements (Net Metering or Virtual Net Metering). A sponsorship of 55% of the eligible costs for the thermal insulation of the roof is provided, with a maximum sponsorship amount of € 2,750 and funding of € 450 per installed kW photovoltaic system, with a maximum sponsorship amount of € 1,800. The maximum amount of sponsorship per application can reach € 4,550. For the residents of mountain communities the amounts increase by 50%.
CATEGORY 3: Installation of photovoltaic system by the method of metering offset (Net Metering) or virtual metering offset (Virtual Net Metering) in existing homes. The amount of the sponsorship amounts to € 375 per installed kW photovoltaic system, with a maximum sponsorship amount of € 1,500 ( CATEGORY 3A ). For the residents of mountain communities the amounts increase by 50%. The amount increases to € 1,000 per installed kW of photovoltaics for the homes of vulnerable consumers, with a maximum sponsorship amount of € 5,000 ( CATEGORY 3B ).
Existing residences are eligible, for which the application for a building permit or urban planning permit has been submitted:
– for CATEGORIES 1 and 2 before 21/12/2007.
– for CATEGORIES 3A and 3B before 01/01/2017.
The Plan has retroactive effect to ensure the smooth continuation of the previous Plan of 2021. Therefore, investments made after 01/08/2021 are eligible. Investments made before 01/08/2021, are not eligible.
All information about the Plan, including the Plan Guide and the application process, can be found on the RES and FDI Fund
website: www.resecfund.org.cy .
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