Cyprus Energy, Trade and Industry Minister Yiorgos Papanastasiou said on Monday, April 1, that the first beneficiaries of the Solar for All program will be able to upgrade their homes as early as May 2024.
He noted that the review of applications and issuance of preliminary authorizations is proceeding at a brisk pace.
The minister spoke about some delay in the implementation of the state scheme and linked it to the long approval of the budget, which was finally approved last week. Papanastasiou stressed that Cypriot residents are showing increased interest in the scheme. In just one month, his office received more than 5,000 applications. The total budget for the program is 30 million euros. It is expected that in total it will be able to cover 6,000 applications.
Remember that all beneficiaries are divided into five groups:
- Category A1 "Solar panels - general scheme".
The beneficiary will be able to receive a grant of €375 for each kilowatt of battery capacity. The maximum grant will be up to 1.5 thousand euros (4 kW). The remaining amount for the purchase of solar panels must be sponsored by the beneficiary (personal funds, bank loan, other). For houses in the mountainous areas of the island, there is a 50% increase in the subsidy.
- Category A2 "Solar panels for vulnerable populations"
Representatives of this group of consumers will be able to receive from the state 1.25 thousand euros for each kilowatt of photovoltaic panel capacity. The maximum grant can reach 6.25 thousand euros (100% for systems up to 5 kW).
- Category A3 "Solar panels for all"
For each kilowatt of capacity of the photovoltaic system purchased, 250 euros will be available. The maximum subsidy amount will be 1 thousand euros. Also in this category, an additional grant of up to 4 thousand euros (1,000 euros for each kilowatt) can be obtained, subject to a gradual payment of the amount received once the solar panels have been installed (150 euros every two months).
- Category B1 "Ceiling insulation - general scheme"
The consumer will be able to insulate the roof with a 50% subsidy. At the same time, the maximum amount payable can reach 2,500 euros and/or 25 euros per m2. For houses in the mountainous areas of the island, the subsidy is increased by 50%.
- Category B2 "Ceiling insulation for vulnerable people"
Representatives of this group of consumers will be able to receive from the state 75% coverage of their costs. At the same time, the maximum amount of payments can reach 3.75 thousand euros and/or 37.5 euros per m2.
Thus, for a household with an average consumption of 1.1 thousand kWh for two months, which currently corresponds to an electricity bill of 370 euros for two months, after the installation of a 4 kW solar energy system, the bill will be reduced to 207 euros. This amount will include €150 for the repayment of the debt for the installation of the system. After repayment, which is expected to take 4 to 5 years, the electricity bill will decrease to €57 for two months.