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Friday 7th May 2021
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HomeProperty NewsGreen scheme for homes in Cyprus launches

Green scheme for homes in Cyprus launches

Applications opened on Tuesday for a scheme that will cover up to 60 per cent of upgrades to make homes in Cyprus more energy efficient.

The Scheme for Promoting Saving and Upgrading Residences is co-financed by the Republic of Cyprus and the European Regional Development Fund, with €30 million allocated as part of the Sustainable Development plan for Cyprus.

The scheme will offer incentives for energy efficient upgrades to existing homes, including but not limited to consulting services from experts, insulation, double glazing, the installation and/or replacement of solar and photovoltaic systems, air conditioners etc.

Grants worth between €22,000 and €32,000 will be offered, covering up to 60 per cent of works or 80 per cent for vulnerable individuals.

Applications are open to individuals residing permanently in areas controlled by the Republic of Cyprus. The plan does not cover homes located in the British bases, but the ministry will be announcing a different scheme covering these areas later.

The application period will be extended to give beneficiaries the opportunity to prepare properly before submitting their applications.

The procedure has been refined so that applications can be submitted on-line without the need for tenders, invoices and receipts, in order to streamline the evaluation process, the ministry said.

In total, the energy ministry will finance the RES and Energy Conservation Fund with close to €200 million in the next seven years. The ultimate goal is to facilitate the transition of Cyprus into clean energy and to reduce the country’s carbon footprint, as defined through the National Plan for Energy and Climate 2021-2030.

At the same time, an additional €200 million will be allocated to businesses for the promotion of green growth and the creation of a circular economy, as well as making the market more competitive.

Anyone interested in applying to the scheme can visit the Industry and Technology Service website, and can contact the service by phone on 22867190, or email sit@meci.gov.cy.

A document responding to frequently asked questions and detailing the application process was published by the ministry (in Greek only) and can be found here.

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