Eligible budget range in the New Execonomo has been increased
Eligible budget range in the New Execonomo has been increased

Eligible budget range in the New Execonomo has been increased

This increase -in case it will be at last finalized- is much smaller than what the market has proposed, that asked for a subsidy to reach €270 per sqm.
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Dimitris I. Papadomarkakis
18.10.2021

The decision of the government to proceed with increasing the ceiling of the eligible budget in "New Execonomo" was mainly due to the large price increases in construction materials, Minister of Environment Mr. Skrekas told in an interview with "KATHIMERINI" newspaper.

In particular, the maximum eligible investment budget has been increased from €180 to €200 per square meter, and the maximum cost prices per material by 15%. Also, the subsidy is increased from €1,500 to €2,500 for investment related to energy management devices (smart home).

This increase -in case it will be at last finalized- is much smaller than what the market has proposed, that asked for a subsidy to reach €270 per sqm.

It is reminded that according to the pre-published implementation guide of the program the maximum eligible investment budget is €0.9 per kilowatt hour of energy saved per square meter and €180 per square meter of the house (whichever is less) and with a maximum ceiling in each case the €28,000.

The program provides eligible cost ceilings per cost category and includes interventions in frames / shading / ventilation systems, thermal insulation, heating / cooling systems, domestic hot water systems, energy management devices (smart home) and lighting upgrades.

In addition, a separate budget of €100 million is being created for energy-vulnerable households through which - among other things - guarantees will be provided to banks in order to repay loans that will cover private investment.

Works must be completed within 12 months from the issuance of the affiliation decision (the goal is to issue the decisions by the end of the year). In addition to energy saving interventions, the issuance of energy certificates, electronic ID (which will be mandatory), engineers' fees and the required permits will be subsidized.

Application submittions and the evaluation platform will operate at the Technical Chamber of Greece and will remain open for one month in order to have preparation time.

The possibility of submitting applications for interventions exclusively in common areas of apartment buildings is abolished. Eligible interventions also do not include the upgrade of the elevator and the installation of photovoltaics for which there will be separate programs.