Cyprus Plan to Subsidize Solar Panels Ahead of Schedule

На Кипре досрочно завершился план субсидирования установки и замены солнечных панелей
14 July 2021 DOM LiVE
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On Tuesday, July 13, the plan for Encouragement of the Use of Renewable Energy Sources and Energy Saving in Energy 2021 ended ahead of schedule.

According to the officials, the maximum limit of subsidies has been reached. Residents of the country have shown an unprecedented interest in the program.

By the way, 1,000 Cypriots have expressed a desire to take advantage of state support.

As you may know, the program started in April 2021. Only natural persons could take part in it. At the same time, depending on the category, applicants could count on the following state subsidies:

  • Category 1. Thermal insulation of roofs of already constructed buildings. The subsidy covered 30% of the costs, but not more than 1.5 thousand euros.
  • Category 2. Thermal insulation of the roofs of constructed buildings in combination with the installation of a solar energy system using net metering. The subsidy covered 35% of all expenses, but not more than 1.8 thousand euros, plus 300 euros for each kilowatt (but not more than 1.2 thousand euros). The total amount of one subsidy could not exceed 3 thousand euros.
  • Category 3. Installation of a solar energy system using net metering in existing buildings. The amount of the subsidy was calculated based on the capacity of the solar energy production system (250 euros per kilowatt), but could not exceed 1,000 euros. For consumers from vulnerable categories of the population, the subsidy was calculated according to the formula 750 euros per kilowatt, but not more than 3.75 thousand euros (category 3B).

На Кипре досрочно завершился план субсидирования установки и замены солнечных панелей

At the same time, the final amount of state subsidies was determined depending on whether the applicant belongs to any vulnerable category or not.

Basic subsidies

Homeowners were able to reimburse up to 250 euros for each kilowatt peak (kWp). Peak kilowatt or kWp is the maximum rate that a photovoltaic system can generate when the sun is at its zenith. The power of the most popular residential photovoltaic systems ranges from 3 to 4 kWp. The maximum subsidy amount in this case is about 1 thousand euros.

Subsidies for vulnerable consumers

Vulnerable categories of consumers - recipients of social benefits, large families, recipients of various disability benefits, who are entitled to an increase in funding of up to 3.75 thousand euros.

The amount of sponsorship under this scheme was paid at double the amount for homes located in mountain areas, based on the zip code provided by the Mountain Community Development Commissioner.

Source: stockwatch.com.cy
Photos: pixabay.com
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