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Cyprus residents receive financial incentive to make their homes energy efficient

The European Commission has been taking steps to utilise advanced technologies to achieve its goal of being the first climate-neutral continent. One recent example of this is from the European Regional Development Fund’s (ERDF) ‘Save and Upgrade’ project and a recent beneficiary of this project is Cyprus who received a total budget of €30 million. 

As of 9 March 2021, residents across Cyprus were offered a financial incentive to make their homes more energy-efficient by installing insulation, new windows or doors, photovoltaic panels and batteries, heat pumps, air-conditioning, and intelligent energy management systems. Up to 60% of their total eligible renovation budget will be reimbursed, and for lower-income residents, this increases to 80%. An eligibility criterion is that the home must already have an energy rating of C or lower.

With the support of qualified experts, residents can select what work needs to be done to reduce their energy consumption by at least 60%. The project funding covers the purchase of the technology and the installation of energy-saving measures.

For more information on the European Commission’s goal to achieve climate neutrality, explore the EU Green Deal website

 

For more news on sustainability gains in the technology sector, explore the Advanced Technologies for Industry’s (ATI) Policy Brief titled Responsible digital transformation - the bridge between digital and circular economy policies. For more information on advanced technologies in Europe, explore the ATI project website.

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