Due to the free – without criteria – access to the program, beneficiaries will be approved on a priority basis. Therefore, those interested should be ready to be able to apply first – or from the first – to have a chance of joining the program.
The… piggy bank
The total budget of the program will be 400 million euros, of which 300 million euros will be covered by the loan part of the Recovery and Resilience Fund and 100 million euros will be the amount with which the commercial banks will participate. The loans will be from 5,000 to 25,000 with subsidized interest and will last from 3 to 7 years.
It goes without saying that joining the program requires that the interested party should be an owner, co-owner or retain real rights (e.g. small ownership, usufruct). Also, based on the program, the beneficiary can upgrade a property he owns, regardless of whether it is a primary or secondary residence. He should also be aware of any obligations towards private financial institutions and the State.
The differences
The concept of this new program is not in competition with the well-known and very popular “Escoonamo”, but rather complementary. In particular, the “Upgrade my house” program has no income or property criteria and therefore will not have time-consuming collection and evaluation procedures. Instead, it will be on a first-come, first-served basis until the program budgets are exhausted.
It will not have an ex post evaluation regarding the energy footprint of the building. As is well known, the interventions made through “Excoionamo” should raise the energy efficiency of the property by at least two levels. For this reason, the program allows individual improvements to the property and not the total ones imposed by “Excoonamo”.
Also, it will not be necessary for the beneficiary to look for bank financing on his own, if he does not have the necessary resources for the intervention he wants to make on his property. The “Upgrade My Home” program involves direct bank financing with no strings attached, with commercial banks covering up to 75% of the loans they will make.
The aim of the program is for a part of the approximately 20,000 properties to be renovated to then be made available for long-term leases.
Interventions covered by the action
Through the program it will be possible to make specific improvements such as thermal insulation, the creation of a green roof, the replacement of frames. Also someone will be able to change the heating and cooling systems, finance the installation of photovoltaic plants, small wind turbines and other forms of RES and of course the installation work for them and any other intervention the owner has in mind.
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