Energy upgrade subsidies of €350-400m expected in autumn

A third round of the “Saving at Home” subsidy program, offering property owners support for energy efficiency upgrades, will make available a sum of between 350 and 400 million euros, energy minister Costis Hatzidakis has indicated.

The subsidy program’s next round is expected to be launched in autumn, the minister noted, adding that the aim is to take its tally to one billion euros by the end of the year from the current total of between 600 and 650 million euros.

The program’s third round will be the final round to offer interested parties financial support through a combination of subsidies and interest-free loans.

Subsidy levels and income criteria are expected to be revised as the energy ministry wants to broaden the participation of households on average income levels, sources informed.

Under its existing format, the “Saving at Home” subsidy program divides eligible parties into seven categories, depending on income level, the highest category offering a 70 percent subsidy rate to lower-end income households.

At the other end, individuals with income levels of more than 35,000 euros per annum or households tallying family incomes of over 45,000 euros do not qualify for subsidies but are eligible for interest-free loans under the existing system.

The preceding second round of the “Saving at Home” program was offered last September.