Renewable Energy and Energy Efficiency

In 2021, Cyprus implemented a new financial incentive focused on energy efficiency and renewables in residential buildings. The funding encourages homeowners to install efficiency measures such as insulation and new windows and doors, as well as solar PV, battery storage, heat pumps and smart energy management systems. With the help of a qualified expert, homeowners can decide on the work required to reduce household energy consumption at least 60%. The government will reimburse 60-80% of the eligible renovation budget, depending on the homeowner's income status. The European Regional Development Fund and the Cyprus government are co-financing the project, which kicked off in March 2021 with a budget of EUR 30 million (USD 33.9 million).

Source: See endnote 145 in chapter 02.

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