This fall, three programs will be included in “Save”:
- the “I save at home” for the general population,
- a program exclusively for heat pumps
- and one “I save” for vulnerable households.
September is a critical month for the course of interest rates both in Europe and in the USA. Yesterday’s announcements on the path of inflation in the United States, which fell to 2.9%, strengthened the estimates of those who believe that the autumn will begin with a de-escalation in the cost of money.
According to information from the Ministry of Environment and Energy, the new framework gives priority to households with disabled members and large families, while the degree day system used in the heating allowance will also be adopted. Thus, households in areas with severe cold will have priority and a larger subsidy.
The total budget of “Save 2024” is around €700 million, with an additional €170 million from RePowerEU.
Save: What’s changing in the program
Interventions will mainly focus on the installation of heat pumps, a technology strongly promoted by the European Union and expected to become mandatory for new heating systems from 2029. Greece aims to increase the percentage of households using heat pumps from 7% today to 17% by 2030 and to 91% by 2050.
The program will also include other subsidized interventions, such as upgrading thermal insulation, replacing windows and installing hot water systems. For households with low incomes, 30 million euros will be allocated from the Recovery and Resilience Fund for energy upgrading of their residence.
The evaluation of the applications will be done on a priority basis, with a subsidy that covers approximately 95% of the cost of the interventions, with a possible upper limit of 10,000 euros per beneficiary.
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