At today’s meeting of the Council of Ministers, a €1.5 million grant scheme was approved for the installation of a photovoltaic system for charging a plug-in electric or hybrid vehicle. Beneficiaries of the plan are natural persons who live in a house and are owners of an electric or plug-in hybrid vehicle.
The Scheme has retroactive effect from 1 February 2022 and will remain open until 20/12/2023 or until the available budget is exhausted. The start date for submitting applications will be announced by the Fund’s Management Committee in the next period.
The amount of the Sponsorship for the installation or expansion of an existing photovoltaic system amounts to €750 per KW, with a maximum sponsorship amount of €1,500 per vehicle.
In addition to the installation of the photovoltaic system, the Scheme provides the beneficiaries with the opportunity to purchase and install a charger, convert the electrical installation of the house from single-phase to three-phase and purchase a battery to store the energy produced by the photovoltaic system.
Discretionary costs are financed as follows:
Purchase, charger installation, €600.
Conversion of the house’s electrical installation from single-phase to three-phase, €450.
Battery purchase/installation, €750 per KW, with a maximum sponsorship amount per application of €2,000.
The Grant Scheme in question is included in the Recovery and Resilience Plan (RESP) of Cyprus for the period 2021–2026 and will be financed by the Recovery and Resilience Mechanism of the European Union.
