The Council of Ministers in Cyprus have given the green signal for a grant scheme to encourage renewable energy in the country, paving the way for the launch of Photovoltaics for All program. Proposed by the Ministry of Energy, Commerce and Industry, the plan aims to encourage rooftop solar installations in the country.
It will entail grant for the installation of a rooftop PV system and/or roof insulation in existing homes under various categories. Under the scheme, state funding for solar PV will be available under the following categories:
CATEGORY A1 for general category Sponsorship of €375/kW and maximum sponsorship amount of €1,500 (4 kW) – 50% increase for mountainous areas
CATEGORY A2 for vulnerable households with a sponsorship of €1,250/kW and a maximum sponsorship amount of €6,250 (5kW)
CATEGORY A3 covers Photovoltaics for all targeting citizens who do not have initial capital to install a PV system. Beneficiaries will get sponsorship of €250/kW and a maximum sponsorship amount of €1,000 (4kW) and, in addition, an investment repayment of €1,000 per kW with a maximum 'repayment amount' of €4,000.
Additionally, there is a provision for a one-time reward (bonus) of €750 for homes that plan to install a rooftop solar system as well as roof thermal insulation.
All interested applications will be pre-approved before the investment is implemented to ensure faster implementation of the program.
Installations will be made by companies registered as Participating Installers. This provides them a 7-year commercial guarantee thus strengthening the viability of the investment.
Application process is scheduled to be launched in February 2024. Details of the plan are available here.
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