An imminent follow-up “Saving at Home” program offering subsidized funds to property owners for domestic energy efficiency upgrades, provided to cover excess demand generated by an initial program staged last summer, has been divided into seven categories offering gradually increasing subsidies, ranging from 25 t0 60 percent, depending on income levels.
Energy minister Giorgos Stathakis and Alternate Economy and Development Minister Alexis Haritsis have co-signed a joint ministerial decision that is expected to activate the follow-up subsidy program within the next few days.
Individuals with annual income levels of up to 10,000 euros and families with total incomes of up to 20,000 euros will be entitled to subsidies representing 60 percent of their domestic energy efficiency upgrade costs. This is the new program’s highest subsidy rate offered.
Individuals with incomes ranging between 10,001 euros and 15,000 euros and families with total incomes of between 20,001 euros and 25,000 euros will be entitled to subsidies covering 50 percent of their energy efficiency upgrades.
For individual incomes of 15,001 euros to 20,000 euros and family incomes between 25,001 euros and 30,000 euros the subsidy rate has been set at 40 percent.
It is 35 percent for individual incomes of 20,001 euros to 25,000 euros and family incomes between 30,001 euros and 35,000 euros.
Individual incomes of 25,001 euros to 30,000 euros and family incomes between 35,001 euros and 40,000 euros the subsidy rate has been set at 30 percent.
The subsidy is 25 percent for individual incomes of 30,001 euros to 35,000 euros and family incomes between 40,001 euros and 45,000 euros.
Finally, applicants with individual incomes of 35,001 euros to 40,000 euros and family incomes between 45,001 euros and 50,000 euro will not be entitled to subsidies for the energy efficiency upgrades but can apply for interest-free bank loans.
Loans of up to 25,000 euros payable within four to six years will be offered as part of the program. Applications for the new “Saving at Home” program will be submitted to an online platform.
The program is expected to contribute to the government’s efforts aiming to revive the country’s subdued building sector and also help the economy transform into one producing less greenhouse emissions and offering lower energy costs for citizens, especially low-income groups.
The previous program covered over 8,500 successful applicants who received a total of 75 million euros for energy efficiency upgrades. Over 6,000 applicants are expected to benefit from the follow-up program, offering an estimated 61 million euros. The new program will bring the total number of beneficiaries to approximately 15,000 in total.