New sponsorship scheme for the promotion of electric vehicles

The Ministry of Energy, Trade and Industry (YEEB) and the Management Committee of the Renewable Energy Sources Fund (RES) and Energy Saving (EXE), announced the approval by the Council of Ministers of a proposal for the implementation of a new sponsorship scheme for the promotion of electric vehicles.

This scheme, the total cost of which can cover applications of up to 1 million euros, will provide financial incentives for the installation/expansion of a photovoltaic system (PV) and/or charging point, and a smart electricity meter in existing homes, for the purpose of charging an electric vehicle or a plug-in hybrid vehicle.

The scheme deadline is until December 20, 2021, or until the available budget is exhausted.

https://resecfund.org.cy/el/sxedio6