News

Employers praise Solar Energy for Everyone scheme

Published

November 27, 2015

Comments

0

Share

Published:

November 27, 2015

Comments:

0

Share

The government’s stimulation programme aimed at installing up to 40 MW of capacity in photovoltaic systems until the end of 2016 earned approval from the Cyprus Employers & Industrialists Federation (OEB). Half of the quota in the scheme called ’Solar Energy for Everyone’ is for users’ own needs, the organization stressed. Employers underscored new measures will help small and medium enterprises cut energy costs and improve competitiveness.

Energy minister Giorgos Lakkotrypis earlier said the cabinet approved two support schemes offering assistance in replacing solar water heaters for homes, and installing photovoltaic net metering systems for commercial consumers, Cyprus Mail reported on November 24.

The first scheme offers EUR 350 in assistance per home for replacing solar water heaters and EUR 175 per unit to replace existing solar panels. The second scheme ’Solar energy for everyone’ provides for an increase in the maximum capacity for net metering systems from 3 kW to 5 kW. This is the first time commercial consumers are included in the scheme. Vulnerable groups are eligible for up to EUR 2,700 for net metering installations.

The cabinet approved a lower value-added tax rate of 5% for all house renovations, deputy government spokesman Victoras Papadopoulos said. The category is applied to renovations and repairs of all private properties including those that are not used as a primary residence. The standard rate so far was 19% with the reduced rate applying to just primary residencies. The reduced rate will also be paid by vulnerable consumer groups and residents of remote areas, for repairs and improvements to private homes, including upgrading their energy efficiency and structural integrity.

 

Related Articles

Rezolv secures EUR 191 million loan for Vifor wind farm in Romania

Rezolv secures EUR 291 million loan for Vifor wind farm in Romania

14 June 2024 - The beneficiary of the loans is First Looks Solutions S.R.L., project subsidiary of Rezolv Energy and Low Carbon

eps transformation plan djerdap 1

Serbia’s power utility EPS adopts Transformation Plan

14 June 2024 - By adopting the Transformation Plan, Serbia has met an important structural benchmark within the framework of the arrangement with the IMF

bulgaria NEK pumped storage hydropower batak dospat

Bulgaria’s NEK gets help to prepare construction of two large pumped storage hydropower plants

14 June 2024 - The pair of new renewable energy sources, named Batak and Dospat, will each add generation capacity of approximately 800 MW

rio-tinto-jadar-lithium-studies

Rio Tinto releases draft environmental impact assessments for Jadar Project

13 June 2024 - Rio Tinto has said it has voluntarily released preliminary drafts of environmental impact assessment studies for its lithium mining project Jadar