The Energy Service and the Finance Ministry seek to boost the funds destined for investments in renewable sources of energy. Their aim is to boost the interest in the service’s programs, demanding by the Council of Ministers funds of more than €22 million to the 15 thousand applicants.
“The increased cost and the increase in the price of oil reduced the investors’ interest and incentives are the only way to spark off their interest”, Industrial Appliances Officer, Andreas Lizides told StockWatch.
“Therefore, the Energy Service prepared a proposal for an increase in the subsidy of the four main alternative sources of energy (Aeolian parks, electro-thermal systems, photovoltaic and biomass)”, he added.
The need to boost the interest for investments in RSE is related to the island’s obligation to the European Union to cover 6% of the electric energy production from the renewable sources until 2011. To date, only 2.43% has been covered by the renewable sources.
The aim is to cover 13% of the production by 2020, otherwise Cyprus will be imposed a huge fine.
Avoiding commenting on the required increase, Energy Director, Solon Kasinis ensured that on August 6 the Finance Ministry sent a letter on its opinion. “The Service’s proposal will be examined in early September”.
On the other hand, Finance Minister, Charilaos Stavrakis said that his Ministry sees positively the Service’s proposal. “The government’s policy is that it will proceed with the program for renewable sources of energy since this is the island’s obligation to the EU”, he said.
Subsidies for legal persons
- Aeolian parks: For small Aeolian systems for electro-production of up to 30KW, maximum subsidy of €41,007 per unit.
- Solar systems: (1) Central systems for water boiling – concerns new systems – maximum subsidy: €17,087 per unit, (2) Space heating and cooling – concerns new systems – maximum subsidy €85,431 per unit.
- Photovoltaic systems: (1) Small photovoltaic systems of up to 20KW, connected with the network, maximum subsidy €47,840 per unit. (2) Autonomous (not connected with the network) photovoltaic systems of up to 20KW maximum subsidy of €170,861.
For natural persons
- Aeolian parks: For natural persons, school –boards, charity foundations, municipalities and other non-profiteering organizations a maximum subsidy of €25,630.
- Solar systems: Central systems of water boiling (new installation or replacement) maximum subsidy of €25,630.
- Biomass: Central systems of heating production. For private households, school-boards, charity foundations, municipalities and other non-profiteering organizations, a maximum subsidy of €18,795.
- Photovoltaic systems: (1) Small photovoltaic systems of up to 20KW, connected with the network, maximum subsidy €64,927 per unit. (2) Autonomous (not connected with the network) photovoltaic systems of up to 20KW maximum subsidy of €64,927.
“The increased cost and the increase in the price of oil reduced the investors’ interest and incentives are the only way to spark off their interest”, Industrial Appliances Officer, Andreas Lizides told StockWatch.
“Therefore, the Energy Service prepared a proposal for an increase in the subsidy of the four main alternative sources of energy (Aeolian parks, electro-thermal systems, photovoltaic and biomass)”, he added.
The need to boost the interest for investments in RSE is related to the island’s obligation to the European Union to cover 6% of the electric energy production from the renewable sources until 2011. To date, only 2.43% has been covered by the renewable sources.
The aim is to cover 13% of the production by 2020, otherwise Cyprus will be imposed a huge fine.
Avoiding commenting on the required increase, Energy Director, Solon Kasinis ensured that on August 6 the Finance Ministry sent a letter on its opinion. “The Service’s proposal will be examined in early September”.
On the other hand, Finance Minister, Charilaos Stavrakis said that his Ministry sees positively the Service’s proposal. “The government’s policy is that it will proceed with the program for renewable sources of energy since this is the island’s obligation to the EU”, he said.
Subsidies for legal persons
- Aeolian parks: For small Aeolian systems for electro-production of up to 30KW, maximum subsidy of €41,007 per unit.
- Solar systems: (1) Central systems for water boiling – concerns new systems – maximum subsidy: €17,087 per unit, (2) Space heating and cooling – concerns new systems – maximum subsidy €85,431 per unit.
- Photovoltaic systems: (1) Small photovoltaic systems of up to 20KW, connected with the network, maximum subsidy €47,840 per unit. (2) Autonomous (not connected with the network) photovoltaic systems of up to 20KW maximum subsidy of €170,861.
For natural persons
- Aeolian parks: For natural persons, school –boards, charity foundations, municipalities and other non-profiteering organizations a maximum subsidy of €25,630.
- Solar systems: Central systems of water boiling (new installation or replacement) maximum subsidy of €25,630.
- Biomass: Central systems of heating production. For private households, school-boards, charity foundations, municipalities and other non-profiteering organizations, a maximum subsidy of €18,795.
- Photovoltaic systems: (1) Small photovoltaic systems of up to 20KW, connected with the network, maximum subsidy €64,927 per unit. (2) Autonomous (not connected with the network) photovoltaic systems of up to 20KW maximum subsidy of €64,927.
3287.99
1275.09
