Support scheme for the installation/expansion of photovoltaic systems and the installation of smart meters in homes for the plugging-in and charging of electric or hybrid vehicles
The Ministry of Energy, Commerce and Industry (MECI) and the Management Committee of the Renewable Energy Sources (RES) and Energy Saving (ES) Fund announced on 26/10/2020 the adoption by the Council of Ministers of a proposal for the implementation of a new subsidy scheme for the promotion of electric vehicles.
This project, the total expenditure of which may cover applications of up to EUR 1 million, will be completed by the end of the year. It will provide financial incentives for the installation/extension of a photovoltaic system (PV) and/or charging point, and a smart electricity meter in existing dwellings, with a view to charging an electric vehicle or plug-in hybrid vehicle.
The RES and ES Fund will accept applications from tomorrow 27/10/2020. The plan will remain in force until 20/12/2021 or until the available funds run out.
This is the first government project aimed at promoting electric vehicles and specifically charging them with RES. The use of electric vehicles, combined with their charging from alternative energy sources, will make a significant contribution to the achievement of Cyprus’ European objectives for green development.
The Plan will cover the following Investment Categories:
For the charging of an electric vehicle or plug-in hybrid vehicle, the applicant will:
- Installation/extension of a net-metering PV system.
- Installation of an electricity meter used for charging the vehicle.
- Installation of a charging point (optional).
The category includes a maximum subsidy amount of €2,250 (€500 for each installed kilowatt (kW) PV system with a maximum subsidy amount of €1,000 and up to €1,250 for the installation of a charging point and meter).
For the charging of an electric vehicle or plug-in hybrid vehicle in a home, which already has a NET-metering SYSTEM installed, the applicant will:
- Install a charging point.
- Installation of an electricity meter used in charging the vehicle.
The category includes a maximum sponsorship amount of €1,250.
For the charging of an electric vehicle or plug-in hybrid vehicle, in a house where a PV measurement clearing system and charging point is already installed, the applicant shall:
- Installation of an electricity meter used in vehicle charging
The category includes a maximum subsidy amount of €750.
The maximum subsidy amounts, mentioned in each category, are per beneficiary, per residence and per plug-in electric or hybrid vehicle.
The Scheme has no retroactive effect and applies only to systems purchased and installed after the date of notice of the Plan. An application for subsidy is submitted after the completion and repayment of the eligible investment.
Applications are submitted only electronically, via the website of the RES and ES Fund (https://resecfund.org.cy). It is noted that applications should be submitted in accordance with the procedure and standard forms applied for the purposes of this Scheme.
Applications submitted differently or by using forms/certifications which applied to old schemes, that have been terminated, will not be accepted. It is considered particularly important that, the applicants study the provisions of the subsidy scheme carefully, as well as the corresponding “Application Guides“, before completing the application. Further guidance is provided in the “FAQs” available on the RES and ES Fund’s website.