Greece Announces Subsidies for SMEs to Improve Energy Efficiency

The Greek Ministry of Environment has pre-published the details of its program “Save-Do Business” which aims to help very small, small and medium-sized businesses (SMEs) improve their energy efficiency and reduce emissions by changing equipment.

The program has a budget of €105.6 million and subsidies will be dispersed on a first come first serve basis. Details of the program, eligibility, eligible expenses and more can be found in Greek here.

The application period will be announced soon, as the program is still awaiting the signature of the Minister of Environment and Energy Mr Theo Skylakakis and the Deputy Minister of Economy and Finance Mr. Nikos Papathanasis.

The government hopes that the program will enable companies to reduce their emissions by at least 30% through subsidies that will partially fund the installation of energy efficient equipment like: heating pump systems including solar/thermal systems, smart metering, solar heating systems, other energy-saving systems.

Eligible companies include those operating in Greece with a Greek VAT number, pending they were created before December 31, 2023, and which are active at the time of application. Another important requirement for applicants is the submission of an energy performance certificate within 20 days of submission.

Subsidies will be determined by the size of the company, the budget and eligible costs. Small enterprises will be able to recover 50% of their expenditures related to energy efficiency, with the maximum budget cap set at €20,000. Medium to large enterprises will get back 40% on expenses of up to €25,000.

Source: tovima.com