With a total budget of € 7,7 million, the Ministry of Energy, Trade and Industry and the Management Committee of the RES and EXE Fund, proceeded today, Wednesday, April 14, 2021, to announce two new sponsorship plans. The projects will cover a total of 5.500 citizens' applications for thermal insulation of ceilings, installation of photovoltaics and installation or replacement of water heaters in their homes, giving them the opportunity to make investments that will help reduce energy consumption and, consequently, their family budget and of their energy footprint. Both projects have undergone significant improvements and simplifications, while a major innovation is the doubling of the grant in mountain areas.
Thermal insulation of roofs and installation of photovoltaics
The first announcement concerns the "Sponsorship Plan to encourage the use of Renewable Energy Sources and Energy Saving in homes for the year 2021". Beneficiaries are natural persons.
The Plan provides sponsorship for thermal insulation of roofs, installation of photovoltaics or a combination of the two in existing homes. Specifically, the categories of the project are the following:
CATEGORY 1: Thermal insulation of roofs of existing houses: Provides sponsorship 30% on the eligible costs of each application, with a maximum sponsorship amount per application €1.500.
CATEGORY 2: Thermal insulation of roofs of existing houses in combination with the installation of a photovoltaic system with the method of net metering: Provides sponsorship 35% on the eligible costs for the thermal insulation of the roof with a maximum sponsorship amount of € 1.800 and financing €300 per installed kW photovoltaic system with a maximum amount of sponsorship € 1.200. The maximum amount of sponsorship per application can be as high as €3.000.
- CATEGORY 3: Installation of a photovoltaic system with the method of net metering in existing homes. The amount of the sponsorship amounts to €250 per installed kW photovoltaic system, with a maximum sponsorship amount € 1.000 (CATEGORY 3A). The amount increases to €750 per installed kW of photovoltaic, for the homes of vulnerable consumers, with a maximum amount of sponsorship € 3.750 (CATEGORY 3B).
The amount of the sponsorship is doubled for the installations made in houses that fall in mountainous areas, within the framework of the National Strategy for the Development of Mountain Communities (does not apply for CATEGORY 3B). Mountain areas are defined solely by postal code by the Commissioner for the Development of Mountain Communities.
The total budget of the Plan amounts to € 7,31 million and is expected to cover approximately 4.500 requests. The Plan will remain in force until 20/12/2021 or until the available budget is exhausted, whichever comes first.
Installation or replacement of a solar water heater
The second announcement concerns the "Sponsorship Plan for installation or replacement of solar hot water production systems in homes for the year 2021".
In accordance with Design, whose beneficiaries are natural persons, is sponsored for the following categories of investments:
- Installation or replacement of an integrated solar water heating system (cylinder and solar panels). The sponsorship amount is € 350.
- Installation or replacement of solar panels only. The sponsorship amount is € 175.
And in this case the amount is doubled for houses that fall in the mountainous areas.
The total budget amounts to € 390 thousand and is expected to cover 1.000 applications. The Plan will remain in force until 01/09/2021 or until the available budget is exhausted, whichever comes first.
Applications only electronically
The first drawing has retroactive effect (for details see the drawing guide), while the second drawing does not. Applications are submitted only electronically, through the website of the RES and EXE Fund https://resecfund.org.cy. The submission portal as well as the forms and requirements have been revised and simplified to make them more user friendly. The Ministry of Energy urges citizens to study the relevant guide before completing and submitting the application. Further guidance is provided in the Frequently Asked Questions (FAQs) available on the Fund's website above.
In addition, for the purpose of facilitating the applicants during the implementation of their investment, information leaflets have been prepared which provide useful advice and technical guidance. The forms can be found on the Fund's website https://resecfund.org.cy.
Those interested can contact for any additional information with the Management Committee of the RES and EXE Fund at 22409350 or through communication form available on the Fund's website.
Further information
The RES & EXE Fund Plans are announced each year with a budget of € 7 million. In 2020, the Fund received 5,781 applications for which it is estimated that sponsorships of € 6,3 million will be paid.
According to statistics, a fully thermally insulated building saves up to 60-70% energy. A thermal insulation investment roof of a house, which is the most vulnerable surface of the construction, is estimated to be amortized in three years, taking into account the sponsorship from the RES and Export Fund. The installation of thermal insulation significantly reduces the energy consumption required for heating and cooling of a space and creates a feeling of thermal comfort in the users of the building throughout the year.
An investment for the installation of a photovoltaic system in a house is estimated to be amortized in about five years, taking into account the sponsorship of RES and EXE.
Solar hot water production systems can provide 70% of the annual hot water need for a home, without any operating costs and with minimal maintenance. An investment in a solar water heater installation is estimated to reduce electricity bills by € 170 per year and to be amortized in about five years, taking into account the sponsorship from the RES and Export Fund.
