“Saving for Businesses” is coming • Terms and conditions • Eligible expenses

Two NSRF actions with a total budget of €65 million will be implemented in the coming period to “shield” businesses from energy costs. The interventions to be funded under the two programs relate to the integration of renewable energy sources and combined heat and power applications in businesses, as well as actions aimed at upgrading their facilities to save energy, i.e., to improve their energy efficiency.

The announcement of the measures is expected in mid-May and concerns all businesses in the country, regardless of size. The amount of the subsidy can range from 35% to 80% and is determined by the type of eligible expenses, the region in which the business operates, and its size. For example, very small businesses operating in disadvantaged areas will be able to receive the maximum amount of aid, while large businesses based in developed regions will receive a lower subsidy.

The first action

The title of the first budget action, worth €35 million, is ” Promotion of heating and cooling systems from RES and cogeneration of electricity and heat for own consumption,” and the eligible budget can range from €20,000 to €1 million.

Existing micro, small, medium, and large enterprises that intend to install heating and cooling systems using renewable energy sources, i.e., biomass, biogas, geothermal energy, solar thermal and other RES systems, or high-efficiency cogeneration systems using RES only when operating as self-production facilities (not when operating with natural gas fuel).

Requirements

According to the terms of the action, each investment proposal should aim to achieve the highest possible penetration of energy from RES or CHP in total energy consumption and achieve at least twenty-five percent (25%) coverage of annual (thermal and electrical) energy needs through integrated solutions for the installation of RES and CHP systems.

In the context of this specific action, in summary, the expenses eligible for funding are those related to:

1. Installation of a new or replacement existing heating system and/or cooling system as well as hot water supply using a renewable energy system (i.e. using biomass, biogas, geothermal energy, solar energy, and other sources considered to be renewable energy), such as:

– air source heat pumps and other air conditioning units,

– solar thermal systems to assist the main heating system and for cooling closed and open cycle spaces and for supplying hot water for domestic use,

2. Installations for cogeneration of electricity and heat with high efficiency for own consumption with use of RES

– Installation of a high-efficiency combined heat and power (CHP) system using renewable energy sources (biomass, biogas, solar energy, geothermal energy).

3. Supportive actions such as Energy Advisor services.In particular

– Energy Consultant Services, in order to prepare a technical report for the installation of RES and CHP systems.

-Conducting studies and research of all kinds necessary for the purposes of the Action.

The 2nd action

The title of the second action is “I save – I Endeavor to Improve the Energy Efficiency of Businesses,” with a total budget of €30 million, while the eligible budget for investment projects can range from €20,000 to €600,000. Similarly, existing micro, small, medium, and large enterprises are eligible to participate.

The eligible expenses under this specific action are summarized as follows:

1. Energy upgrades to building infrastructure

Interventions may include:

– Thermal insulation of exterior walls, floors, roofs, and ceilings (including shading systems).

– Replacement of existing window frames with new thermally broken energy-efficient window frames (at least double glazed).

– Addition or replacement of local or central mechanical ventilation systems with heat recovery capability

– Upgrade heating and cooling systems with new, more energy-efficient ones.

– Addition or replacement of lighting systems with new, more energy-efficient ones.

– Addition or replacement of equipment and systems for the production of hot water for domestic use.

– Implementation of High Efficiency Cogeneration Systems (HECS).

2. Energy upgrade of the production process

Interventions in this category may include:

– upgrading thermal energy production and distribution systems used for both space cooling/heating and the production process (e.g., hot water/steam production equipment and systems, waste heat recovery equipment, etc.)
– replacing motors and pumps with new, more energy-efficient variable speed ones.

3. Supportive actions such as:

– Energy Auditor Services,

– Energy Inspector Services, for the issuance of Energy Performance Certificates (initial and final) for buildings falling within the scope of KENAK.

– Energy Consultant Services, in order to develop a plan for measuring and verifying the savings achieved from the energy saving measures implemented.