These schemes (SSEEA1 and SSEEA2) support projects and investments to increase energy efficiency and the use of renewable energy.
SSEEA1 applies to natural persons and public entities whereas SSEEA2 covers legal persons and commercial public entities. Under these schemes, grants are allocated to encourage the installation of renewable energy plants. The grants cover a certain percentage of the initial investment that vary with technology, applicant and the scheme. The grants in the schemes cover off-grid electricity generation (off-grid wind, off-grid PV); and heating and cooling (geothermal, biomass and solar thermal). The applications for the scheme for 2012 were closed on 31-Oct-2012.
The schemes also supports the installation of grid-connected wind and PV installations by offering feed in tariff premiums with 15 year purchase agreements. In case of SSEEA2, the agreement can be extended for 5 more years. The Cypriot power company (EAC) purchases electricity from the plant operators at the market price. The special fund for RES pays a bonus on top of the market price.