Residential solar system sponsorship program

Following its meeting on Wednesday, the Minister of Energy, Trade, and Industry, George Papanastasiou, released a statement announcing that the Cabinet had authorised a new sponsorship program designed to encourage the installation of solar hot water systems in houses.

Two categories of financial support are available under the initiative. The first, for broad public, offers qualifying installations a €500 grant. In areas with mountains, the payment is raised to €900. The second category focusses on homes that are at risk and provides them with a €900 subsidy to help with system installation costs.

The program is designed to support the installation of integrated systems, which include both the solar panels and the cylinder required for hot water generation. Homeowners interested in applying can choose from a list of approved installers who will carry out the installations, Papanastasiou explained.

With a total budget of €1 million, the scheme will accept applications until December 20, 2024, or until 1,500 applications have been submitted, whichever comes first.

The funding for this project comes from the APE and EXE Fund, and it is exclusively available to private individuals.