“Save-Renovate for Young People”: Subsidies up to 90%, with bonuses – Read what applies

Subsidies of up to 90% for energy upgrade investments and 30% for renovation of homes owned by young people are provided for by the “Save – Renovate for Young People” program included in the package of housing policy measures.

According to the Program Guide, pre-published by the Ministry of Environment and Energy (https://ypen.gov.gr/exoikonomo-anakainizo-gia-neous/ ) natural persons born between 01/01/1984 and 31/12/2005 with a real right to an eligible residence (detached houses and individual apartments used as a main residence) are eligible to participate in the Program

There are 4 income categories defined for the “Save” section:

1. up to 5,000 euros annual individual income or 10,000 family income

2. 5,000-10,000 euros annual individual income or 10,000-20,000 family income
3. 10,000-20,000 euros annual individual income or 20,000-30,000 family income
4. 20,000-30,000 euros annual individual income or 30,000-50,000 family income

For I am “renovating” the income limit is 20,000 euros for all and in addition the applicant’s total real estate must not exceed 300,000 Euros.

Other program features:

• The main use of the residence is derived from the data of the user’s income tax return within the last three years, with priority given to the reference year (tax year 2021). In the event that from the data of the income tax return, for the reference year, it appears that the property was not in use (vacant apartment, vacant detached house) in the tax year in question, for the certification of the main use of the residence, corresponding supporting documents from one of the two previous tax years.

If the residence has been acquired after 31.12.2021 (“recently acquired” property), a written commitment for the main use of the residence will be requested.

• Short-term rental properties are not eligible. Also, applications related to energy upgrading/renovation of an apartment building are not eligible.
• Only one application can be submitted for each eligible natural person (for each applicant TIN).
• Only one application must be submitted for each eligible residence of the current Program. A residence, with an active application in one of the energy upgrading programs, “Ecoconomisi kat Oikon II” and “Ecoconomi-Autonomo” and “Ecoconomi 2021”, does not have the right to submit to the current program. An exception is the case of a “type B” multi-family housing application apartment of the “Save – Self-Employment” Program, for which an application may be submitted as an individual apartment in the current Program.
• It is not possible to apply for “Renew” only, while participation in “Save” is a condition for applying for “Renew”.

In the “Save” Section, the maximum eligible budget for energy upgrading interventions cannot exceed:

a) the product of 1.00 Euro times the total estimated annual primary energy savings (kWh) as derived from the A ́ Energy Performance Certificate,

b) the product of 220 Euros on the surface of main premises such as this results from form E9, c) 22,500 Euros.

In the “Renovate” Section, the maximum budget for renovation interventions cannot exceed:

a) the product of 75 Euros on the surface of main premises such as this results from form E9, b) the 10,000 Euros.

The Save section includes investments for replacing window frames, shading systems, thermal insulation, heating-cooling systems, solar water heaters, energy management devices and household electrical appliances. The renovating section includes renovations of bathrooms, kitchens, bedrooms, living rooms, etc. indoor spaces. The works include the supply and installation of tiles, sanitary ware, cupboards, internal doors and generally works not covered by the “Save” section.

Execonomou aid rates scale from 40 – 75% depending on income category, plus a 15% decentralization bonus for applications where the eligible residence is located in a Municipal Unit with a population of less than 2,000 inhabitants.

The goal of the program is to save primary energy by at least 30% and upgrade the energy category based on PEA by at least three energy classes compared to the existing classification.

The submission and management of the applications to the Program will be done on the platform of the Ministry of Foreign Affairs.

The Minister of Environment and Energy, Kostas Skrekas, said: “The Prime Minister announced to the D.E.T. the Government’s comprehensive plan for the new housing policy, “My house!”. In implementation of this announcement, we are putting the “Save – Renovate for Young People” Program on track, with a budget of 350 million euros, giving the appropriate financial incentives to young people aged 18-39, in order to upgrade their homes energy-wise and renovate. We create the necessary framework for our young people to reduce energy costs at home, with targeted energy interventions, and to acquire a modern home, which is a prerequisite for a better quality of life. We stand by the young people who are starting their lives and provide solutions to the practical problems they face, at a difficult time, in the midst of the energy crisis”.

The General Secretary of Energy and Mineral Raw Materials, Alexandra Sdoukou, said: “As of today, the “family” of the Economies programs is growing. As part of the government initiative “My home!” today we present the new action “Save – Renovate for Young People” which provides the possibility for young people aged 18 to 39 not only to upgrade their home energy-wise but also to renovate it, aiming for an integrated result, aiming at improving quality life and the low environmental footprint. Like the previous programs, this one has a special social character. That is why we subsidize with an additional 15% the eligible interventions in the very small areas, taking into account the particular difficulties that exist. ‘Save – Renovate for Young’ reflects the further expansion of the scope of building energy upgrade programs beyond primary residences and public buildings. It follows the pre-publication of the “Save-Operate” Guide, which focuses on small and medium-sized service, trade and tourism businesses. And our effort on the energy conservation front continues on many levels, as it is a key tool to reduce energy costs while tackling climate change.”

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