Sustainable Bond Framework
Green Project Case Study: SAVE subsidy schemes
SAVE home subsidy schemes
Aim: The Scheme aims to promote deep energy renovation of
existing households, belonging to individuals. It's main objective is
to reduce each household's primary energy consumption at least by
60%.
Description: The scheme is targeting energy efficiency gains up to
60% in households though improvements in the infrastructure of
the houses either through improvements in temperature insulation
or the installing of technical equipment that reduces energy
consumption (e.g. PV cells). Energy savings are estimated by
Qualified Experts, who issue Energy Performance Certificates before
and after energy renovation of each household.
Potential Uses of Proceeds:
✓ Eligible measures cover a wide range of investments such as insulation
of buildings' shell, replacement of windows, window shading
systems, replacement of heating / air conditioning systems, installation
of renewable energy systems, energy storage systems, installation of
electricity saving systems etc.
Beneficiaries:
✓ Households subject to energy efficiency-based home improvements
Achievements/timeline:
Projected 3 800 households to use the scheme.
✓ €30mn eligible expenses in the period 2020-2025
✓ Expected to spur activity and investment in green construction & services
Picture: https://dom.com.cy/en/live/digest/cyprus-launches-home-energy-drive-program/
ICMA Green Bond Principles Category: Energy Efficiency
Indicative Impact metrics
✓
Percentage saving in energy efficiency
Number of beneficiaries
13
AFFORDABLE AND
CLEAN ENERGY
CLIMATE
ACTION
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