State grants for EV home charging points

The Transport Ministry has announced a subsidy scheme to encourage the installation of solar-powered charging systems for plug-in electric and hybrid vehicles.

The cabinet on Wednesday approved of EUR 1.5 mln scheme to help people to go green, by offering them a cheaper way to charge their electric vehicle.

The government’s latest scheme is part of its Strategy for Rapid Transition to Green Energy to promote emobility and sustainable transport.

The scheme will sponsor the installation of the photovoltaic system, providing the opportunity to purchase and install a charger, converting the electrical installation of the house from single-phase to three-phase.

The scheme will finance the purchase of a battery to store the energy produced by the photovoltaic system.

Beneficiaries of the plan are those living in a home and owning an electric or hybrid plug-in vehicle.

Energy Minister Natasa Pilides, who said that the program is up and running until 20 December next year, or until the available budget runs out. The amount of the grant for installation or extension of an existing photovoltaic system is EUR 750 per KW, with a maximum amount of EUR 1500 per electric or hybrid vehicle owned.

The optional costs are financed as follows:

- Purchase and installation of a charging point EUR 600.

- Conversion of electrical installation of the house from single-phase to three-phase EUR 450.

- Purchase and installation of a battery EUR 750 per KW, with a maximum amount per application of EUR 2000.

The ministry’s latest scheme is covered by the “Cyprus Tomorrow” Recovery and Sustainability Fund for 2021–2026, funded by the EU.

Find out more information on the RES Fund website: https://resecfund.org.cy/ev_charging_2022