Residents on the third-largest island in the Mediterranean are being offered a financial incentive, through the ERDF-funded ‘Save and Upgrade’ project, to make their homes more energy efficient.
- 12 March 2021
![Cyprus encourages homeowners to ‘save and upgrade’](https://ec.europa.eu/regional_policy/images/upload/20210311_news-2.jpg)
Up to 60 % of their total eligible renovation budget will be reimbursed, although for low-income residents this increases to 80 %. One of the eligibility criteria is that the home must already have an energy rating of C or lower.
With the help of a qualified expert, homeowners can decide on the work that needs to be done to reduce their energy consumption by at least 60 %. The project funding will cover the purchase and installation of energy-saving measures.
These can include insulation, new windows or doors, photovoltaic panels and batteries, heat pumps, air-conditioning and intelligent energy-management systems.
The project starts on 9 March and has a total budget of EUR 30 million.
Author: Evagoras Prokopiou
More information
Programme/Project: I Save, I Upgrade programme
Source article on https://www.philenews.com/ on 28/02/2021