Minister of Energy announces energy renovation projects

The Ministry of Energy, Commerce and Industry is proceeding with the preparation of standard procedures for the announcement and implementation of energy renovation projects.

At the same time, the Ministry intends to make changes to the energy-saving Grant Schemes for residences and businesses in a way that facilitates such projects, the reponsible Minister George Papanastasiou has said.

In his address to the Annual General Meeting of the Cyprus Association of Energy Saving Businesses on 22 January, Papanastasiou said that it is understandable that most businesses in Cyprus do not have the specialised knowledge to be able to perceive the multiple benefits that a comprehensive energy renovation project brings, noting that such projects contribute, at the same time to saving energy and money, to increasing the value of the building or property, to shielding it from constant climatic fluctuations, to improving thermal comfort and to increasing productivity and occupational health.

He noted that the new targets that the country must meet by 2030 for energy efficiency, and RES are particularly high. He added that the reduction in final and primary consumption will be achieved by implementing measures that have already been launched, but also by additional measures and policies that will be included in 2024 in the final National Energy and Climate Plan.

Papanastasiou said that the Ministry has announced Grant Schemes, through the RES and Energy Conservation Fund, with a total budget exceeding €215 million for the years 2022-2025. These include subsidies for investments in roof thermal insulation and installation of photovoltaic systems in residences, replacement of solar water heating systems, charging of electric vehicles from RES, as well as energy upgrades of Local Government buildings and infrastructures. The Fund receives more than 1500 applications on average per month, he added, showing how popular the schemes are.

In addition, he said, there will be a new scheme regarding the installation of roof thermal insulation in homes where vulnerable consumers live. He pointed out that this will also regard roof thermal insulation in combination with the installation of solar panels for self-consumption with the net-metering and net-billing method, and thus reducing consumers' energy expenses for energy purposes.

Moreover, the Minister referred to the scheme for energy saving and upgrading enterprises and NGOs, and the corresponding scheme for residential buildings. An additional budget has already been allocated for the latter while an SME Scheme is being amended to be improved in order to attract more interest. At the same time, a new plan for large enterprises is being launched.

The Minister also referred to a series of measures and policies that contribute to the reduction of energy consumption, such as the creation of a One-Stop-Shop to facilitate energy renovation projects and the licensing of RES projects, the imposition of obligations on large energy distributors to achieve an annual target with measures for the benefit of consumers, the installation of smart meters, the replacement of street lighting with more energy efficient ones and the adoption of informative measures.

(Source: CNA)