Self-generating photovoltaics (net metering) will be included in the eligible costs of the new Save for Business, through which private companies will receive financial support for energy efficient renovations of buildings and energy saving interventions are expected, according to an official of the Ministry of Foreign Affairs.
The program will differ in key points compared to the original plan (it will also include photovoltaics) and the total cost of the investment is estimated at 947.5 million euros, of which 450 million euros (558 million euros including VAT) will come from the Recovery and Resilience Fund (RRF) and the remaining 497.5 million euros from private sector participation, while the implementation phase will last about three years, after the evaluation and approval of the applications.
Small and large companies such as bakeries, confectioneries, micro-craftsmen and larger consumers will be eligible for a subsidy, while the goal is to complete the implementation of these investments by December 31, 2025.
Through the new program, private companies will receive financial support for energy efficient renovations of their buildings and processes and in this context are provided a) energy efficiency renovations in the tertiary and secondary sector for medium, large and very large companies and b) installation of energy efficient equipment in very small businesses.
The subsidized interventions concern the installation of energy efficient equipment and systems for energy saving in production (eg equipment / systems for hot water / steam production, waste heat recovery equipment, etc.), storage, distribution of products, as well as and in the operation of the companies (eg upgrading of lighting system, internal electrical installations) but as announced a few days ago by the Prime Minister Kyriakos Mitsotakis, the installation of photovoltaics will receive a subsidy for the purpose of self-consumption and reduction of energy costs.
With its implementation, it is estimated that at least 9,700 companies will be supported (8,500 very small and 1,200 medium, large and very large) from various productive sectors such as tourism, agri-food, etc. but also private offices and commercial buildings. In fact, a conservative estimate sets the subsidy at 45% for eligible businesses.
The prospects for energy savings through the project’s projects account for about 25% of total energy consumption in the industrial sector, while companies are expected to reduce annual primary energy consumption by 380 GWh and annual greenhouse gas emissions by 90 kt of CO2 equivalent.