Funds to install PV chargers for electric cars

Cabinet on Wednesday approved a €1.5 million subsidy scheme to cover the installation of photovoltaic systems to charge electric or hybrid plug-in vehicles.

Proposed by Energy Minister Natasa Pilides, the scheme comes amid government efforts to promote use of electric vehicles and sustainable transport more generally and is part of a strategy for a speedy transition to green energy, the ministry said in an announcement.

Other than the installation of the photovoltaic system, the scheme enables beneficiaries to buy and install a charger, convert the electric installation of their home from single to triple phase and purchase a battery to store the energy produced by the photovoltaic system.

The scheme is open to individuals living in houses and are owners of an electric or hybrid plug-in vehicle.

Retroactive from February 1, it will remain open until the end of the year or until the budget is exhausted. The date for applications will be announced soon.

The subsidy is €750 per KW, with a maximum sum of €1,500 per vehicle. The optional expenditure is financed as follows: €600 for the purchase and installation of a charger; €450 to convert the electric installation to triple-phase and €750 per KW for the purchase/installation of a battery, with a ceiling of €2000 per application.

The subsidy scheme is included in the recovery and resilience programme ‘Cyprus of Tomorrow’ for the period 2021-2026 and is financed by the EU.

Information is available online on the RES and energy conservation fund page on resecfund.org.cy.