€21 million scheme for subsidy photovoltaic panels launched

Three clean energy schemes launched

Three clean energy schemes were announced today, which will allow residential consumers and businesses invest in photovoltaic panels for their homes and offices.

The first scheme is a co-financed €21 million ERDF fund that will pay 22c as a feed-in tariff for each unit generated from PV panels, and fed into the national grid.

The tariff will be valid for the first six years, and then will reflect the price of electricity generation for the years thereafter. Consumers will be able to benefit from a 50% subsidy, up to a maximum of €2,500, on the purchase of the PV panels.

Energy minister Konrad mizzi claims the feed-in tariff will inject €42 million into the economy, half of which are EU funds, and possibly reach 8,000 families and 50 business enterprises.

Mizzi said the government will also reopen the solar water heaters, and roof insulation and double glazing schemes, intended to improve domestic energy efficiency rates. Beneficiaries can cover up to 40% or a maximum of €400 of their solar water heater expense, and up to 15.25% or a maximum of €1,000 for roof insulation and double glazing. The total of available funds will be €600,000.

Mizzi said the schemes form part of Labour's electoral pledge to further energy saving initiatives.

The schemes will be managed by the Malta Resources Authority and remain valid for a year, or until funds last.

Mizzi said forthcoming plans in the coming summer will be connected to renewable energy, where Malta is presently an EU laggard in RE generation.

More information is available on 22955000 or websites mra.org.mt and www.ppcd.gov.mt