The announcement of the "Save-Effort" initiative should be considered imminent, expected before the end of the year following numerous delays. It's worth noting that the preliminary publication of this initiative was released in October 2022. The program aims to support investments in the energy upgrade of buildings and the procurement of energy-saving equipment. This initiative is part of the policies and measures outlined in the National Energy and Climate Plan (NECP), which details the action plan for achieving specific energy and climate targets by 2030.
Purpose
For each project submitted and funded under this program, the minimum energy and environmental targets are as follows:
- Reduction of greenhouse gas emissions (CO2) by at least 35%
- Primary energy savings of at least 35%
- Upgrading the energy efficiency class, as defined by the Energy Performance Certificate (EPC), by at least three (3) energy classes compared to the current classification (or to at least class B when it comes to major renovations) if the upgrade pertains to building infrastructure subject to Law 4122/2013.
Basic Requirements for Participation
The essential conditions for a business to participate in this initiative are summarized as follows:
- The business must have been established by 31/12/2020, with an eligible NACE code for the initiative.
- It must have closed at least two (2) financial years of twelve months each before the date of electronic submission of the funding proposal.
- The business must operate within Greek territory and declare a single region as the location for implementing the actions of this initiative.
- It must qualify as a Small or Medium-sized Enterprise (SME).
- The business must operate legally with the appropriate licensing documents, in accordance with applicable legislation and its activities.
- It must operate exclusively under one of the following forms: Corporate/Commercial Entities: Anonymous Company, Limited Liability Company, General Partnership, Limited Partnership, Private Company (IKE), Sole Proprietorship, Social Cooperative under Law 4019/2011, Cooperative, and must maintain single-entry or double-entry bookkeeping.
- An Energy Audit must have been completed, as stipulated in Article 10 of Law 4342/2015 and the related Ministerial Decision 178679/04.07.2017, regarding the company’s current situation, with energy-saving proposals resulting from the energy audit report.
- The business must meet at least the minimum energy target.
- A single investment proposal must be submitted per Tax Identification Number (AFM).
- The business must not be undergoing bankruptcy, liquidation, or compulsory management.
- There should be no pending recovery of state aid following a decision by the European Commission declaring such aid illegal and incompatible with the internal market.
- The business must not be classified as a distressed firm.
Eligible Activities – Potential Beneficiaries
This initiative supports existing medium-sized, small, and very small enterprises.
Eligible sectors include:
- Trade
- Services
- Tourism
Budget for Investment Projects
Under this program:
-For the sectors of Trade and Services, projects with a total budget of up to €100,000 are eligible for support.
For the Tourism sector, projects with a total budget ranging from €50,000 to €500,000 are eligible. The capacity of the unit should not exceed one hundred (100) beds.
The upper limits do not include VAT, which is not an eligible expense.
The aid rates are set at 40% for medium-sized enterprises and 50% for small and very small enterprises.
Eligible Expenses
Eligible expenses are divided into costs related to implementing energy efficiency interventions and other supporting costs, which are necessary for preparing, submitting, and monitoring the application, as well as the final assessment of achieving the minimum energy targets.
a. Interventions for Energy Upgrading
Eligible interventions include, but are not limited to:
- Energy efficiency improvements to building envelopes, such as thermal insulation of opaque structural elements, replacement of transparent components, installation of shading systems.
- Upgrades to lighting systems (interior and exterior), including replacement of existing fixtures with new LED technology, automation systems for integrating artificial and natural lighting, and user presence/absence consumption reduction automation.
- Energy savings interventions in heating systems, such as replacing boilers with heat pumps, enhancing thermal insulation of distribution networks, and replacing terminal units with new energy-efficient models.
- Energy savings interventions in cooling systems, including replacing older chillers with newer technology, improving thermal insulation, and upgrading terminal units.
- Energy savings in ventilation systems, such as replacing old units with modern systems that recover energy from exhaust air, enhancing thermal insulation, and upgrading fan units to energy-efficient models controlled by electronic devices (inverters).
- Upgrading hot water systems through replacing boilers with heat pumps, improving thermal insulation, and upgrading storage units to energy-efficient alternatives.
- Installation of renewable energy systems, such as solar thermal and photovoltaic systems, energy storage systems, small wind turbines, and geothermal heat pumps, including ground loops.
- Implementation of automation, control, and management systems, both locally and centrally.
- Systems for improving power quality.
b. Other Support Services
This initiative allows for funding of the following support services:
- Services of an Energy Auditor, as defined by Law 4342/2015 and the relevant Ministerial Decision 178679/04.07.2017.
- Services of an energy inspector, as defined in Law 4122/2013 and the relevant ministerial decision 178581/30-06-2017 for the issuance of energy certificates (initial and final) for buildings that fall under the Energy Performance of Buildings Regulation (KENAK).
- Development and certification of an energy management system in accordance with ISO 50001.
- Consulting services for monitoring and management
- Preparation of studies and surveys necessary for implementing the findings of the energy audit relevant to the objectives of the initiative.
As mentioned earlier, the announcement for this initiative is expected soon. The announcement will detail deadlines, submission procedures, membership terms and conditions, and will outline eligible expenses as well as any restrictions that may apply.
Basic Requirements for Admission to the Expected "Save-Effort" Program
22 September 2023
ΙΩΝΙΚΗ Finance
The announcement of the "Save-Effort" initiative should be considered imminent, expected before the end of the year following numerous delays. It's worth noting that the preliminary publication of this initiative was released in October 2022. The program aims to support investments in the energy upgrade of buildings and the procurement of energy-saving equipment. This initiative is part of the policies and measures outlined in the National Energy and Climate Plan (NECP), which details the action plan for achieving specific energy and climate targets by 2030.
Purpose
For each project submitted and funded under this program, the minimum energy and environmental targets are as follows:
- Reduction of greenhouse gas emissions (CO2) by at least 35%
- Primary energy savings of at least 35%
- Upgrading the energy efficiency class, as defined by the Energy Performance Certificate (EPC), by at least three (3) energy classes compared to the current classification (or to at least class B when it comes to major renovations) if the upgrade pertains to building infrastructure subject to Law 4122/2013.
Basic Requirements for Participation
The essential conditions for a business to participate in this initiative are summarized as follows:
- The business must have been established by 31/12/2020, with an eligible NACE code for the initiative.
- It must have closed at least two (2) financial years of twelve months each before the date of electronic submission of the funding proposal.
- The business must operate within Greek territory and declare a single region as the location for implementing the actions of this initiative.
- It must qualify as a Small or Medium-sized Enterprise (SME).
- The business must operate legally with the appropriate licensing documents, in accordance with applicable legislation and its activities.
- It must operate exclusively under one of the following forms: Corporate/Commercial Entities: Anonymous Company, Limited Liability Company, General Partnership, Limited Partnership, Private Company (IKE), Sole Proprietorship, Social Cooperative under Law 4019/2011, Cooperative, and must maintain single-entry or double-entry bookkeeping.
- An Energy Audit must have been completed, as stipulated in Article 10 of Law 4342/2015 and the related Ministerial Decision 178679/04.07.2017, regarding the company’s current situation, with energy-saving proposals resulting from the energy audit report.
- The business must meet at least the minimum energy target.
- A single investment proposal must be submitted per Tax Identification Number (AFM).
- The business must not be undergoing bankruptcy, liquidation, or compulsory management.
- There should be no pending recovery of state aid following a decision by the European Commission declaring such aid illegal and incompatible with the internal market.
- The business must not be classified as a distressed firm.
Eligible Activities – Potential Beneficiaries
This initiative supports existing medium-sized, small, and very small enterprises.
Eligible sectors include:
- Trade
- Services
- Tourism
Budget for Investment Projects
Under this program:
-For the sectors of Trade and Services, projects with a total budget of up to €100,000 are eligible for support.
For the Tourism sector, projects with a total budget ranging from €50,000 to €500,000 are eligible. The capacity of the unit should not exceed one hundred (100) beds.
The upper limits do not include VAT, which is not an eligible expense.
The aid rates are set at 40% for medium-sized enterprises and 50% for small and very small enterprises.
Eligible Expenses
Eligible expenses are divided into costs related to implementing energy efficiency interventions and other supporting costs, which are necessary for preparing, submitting, and monitoring the application, as well as the final assessment of achieving the minimum energy targets.
a. Interventions for Energy Upgrading
Eligible interventions include, but are not limited to:
- Energy efficiency improvements to building envelopes, such as thermal insulation of opaque structural elements, replacement of transparent components, installation of shading systems.
- Upgrades to lighting systems (interior and exterior), including replacement of existing fixtures with new LED technology, automation systems for integrating artificial and natural lighting, and user presence/absence consumption reduction automation.
- Energy savings interventions in heating systems, such as replacing boilers with heat pumps, enhancing thermal insulation of distribution networks, and replacing terminal units with new energy-efficient models.
- Energy savings interventions in cooling systems, including replacing older chillers with newer technology, improving thermal insulation, and upgrading terminal units.
- Energy savings in ventilation systems, such as replacing old units with modern systems that recover energy from exhaust air, enhancing thermal insulation, and upgrading fan units to energy-efficient models controlled by electronic devices (inverters).
- Upgrading hot water systems through replacing boilers with heat pumps, improving thermal insulation, and upgrading storage units to energy-efficient alternatives.
- Installation of renewable energy systems, such as solar thermal and photovoltaic systems, energy storage systems, small wind turbines, and geothermal heat pumps, including ground loops.
- Implementation of automation, control, and management systems, both locally and centrally.
- Systems for improving power quality.
b. Other Support Services
This initiative allows for funding of the following support services:
- Services of an Energy Auditor, as defined by Law 4342/2015 and the relevant Ministerial Decision 178679/04.07.2017.
- Services of an energy inspector, as defined in Law 4122/2013 and the relevant ministerial decision 178581/30-06-2017 for the issuance of energy certificates (initial and final) for buildings that fall under the Energy Performance of Buildings Regulation (KENAK).
- Development and certification of an energy management system in accordance with ISO 50001.
- Consulting services for monitoring and management
- Preparation of studies and surveys necessary for implementing the findings of the energy audit relevant to the objectives of the initiative.
As mentioned earlier, the announcement for this initiative is expected soon. The announcement will detail deadlines, submission procedures, membership terms and conditions, and will outline eligible expenses as well as any restrictions that may apply.
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