The Cyprus Council of Ministers approved a 1.5-million-euro subsidy scheme this week for purchases of solar power batteries, charging stations electric vehicles and plug-in hybrid cars and the installation of photovoltaic systems at homes.
Nicosia’s Ministry of Energy stated that the scheme is part of the government’s efforts to promote electric vehicles and sustainable transport in the context of the transition to green energy.
Apart from the purchase of photovoltaic systems and EV charging stations, the scheme also covers the purchase of batteries to store energy generated by solar panels. Individuals who own EVs or plug-in hybrid cars are eligible.
The subsidy is €750 per kilowatt covering the installation or the extension of an existing photovoltaic system, with a maximum amount of €1,500 per vehicle.
Furthermore, the grants amount to €600 for the purchase of an EV or plug-in hybrid charging station, €450 for the upgrade of a home’s electric installation, and €750/KW for the purchase or installation of a battery with a maximum amount of €2,000.
The scheme is included in the National Recovery and Resilience Fund and is financed by the EU.