Let’s Go Green

May 5, 2021 | Cyprus Economy

The Minister of energy, trade and Industry, Natasha Pileidou, said that two sponsorship plans were approved by the Renewable Energy and Energy Saving Fund of the Ministry of energy, trade and Industry.

According to Ms. Pileidou, the first plan concerns the installation or replacement of an integrated solar water heating system and the installation or replacement of solar panels. Sponsorship amounts for this project are doubled for homes located in the mountain areas, under the postcode allocated by the Committee for the development of mountain communities. The total budget of the plan approved is 390 thousand euros and will run until September 1, 2021 or until the final submission of 1000 applications covering the amount approved, said the Minister of energy.

The second plan, regards thermal insulation of roofs and the installation of photovoltaic systems. For the thermal insulation of roofs, the category provides funding up to 30% of the eligible costs, the funding reaches 35% if there is a combination with the installment of photovoltaic system. There is also special coverage for vulnerable consumers, as well as for the installation of a photovoltaic system with the method of offsetting measurements in existing houses.

The total budget for this project is 7 million euros.

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