EU Recovery Fund: Savings actions of 1.6 billion euros stimulate the Greek construction market
What are the three savings programmes that will absorb significant aid from the European Union Recovery Fund?
The known as “green pillar” is the main pillar of the Recovery Fund subsidy as it is expected to allocate over 6 billion euros, with the aim of mobilising total funds of 10 billion euros. The “green pillar”, in addition to actions related to energy, sustainable transport and sustainability, includes a large part of actions related to energy savings for Greece’s building stock. These are three different programmes, which will be funded by the European Union Recovery Fund with a subsidy of over 1.6 billion euros. This money is expected to be allocated in the construction market, significantly stimulating it, while strengthening the competitiveness of companies in the building and construction sector and creating new demand for construction products and services. What are the three savings programmes that are expected to play a leading role in the Greek market in the coming years?
1. The “Household Energy Efficiency” programme, which aims to save at least 30% of household energy. It includes replacement of windows, upgrading of cooling and heating systems, solar water heaters, heat pumps, “smart” energy saving and management systems of home appliances, roof photovoltaics, etc. It is expected to show significant benefits, in terms of economic activity and employment, for work contractors and the related industries. The total amount of funding from the Recovery Fund is 1.081 billion euros.
2. The “Business Energy Efficiency” programme, to enhance the energy efficiency of small and medium-sized enterprises, also with the aim of saving at least 30% energy. It includes energy upgrades of buildings, energy upgrades of production processes, heat recovery systems in the framework of production processes, installation of “smart” energy systems, electric distribution vehicles, etc.. 450 million euros will be allocated.
3. The “Public Sector Energy Efficiency” programme, with the aim of renovating and upgrading the energy efficiency of infrastructure and buildings of the public sector and the local government administration. The total amount of the Recovery Fund subsidy is 200 million euros.