The Upgrade My Home program, set to launch in January, will offer interest-free loans totaling 400 million euros for home energy upgrades, an initiative that aims to benefit approximately 20,000 households.
Key features of the program include:
- No income, age, or property ownership restrictions
- Loans up to 25,000 euros with zero interest
- Repayment period of up to 7 years
- Funding sources: Recovery Fund (€300 million) and banks (€100 million)
- Open to all individuals owning primary or secondary residences
The program allows for various energy upgrade expenses, such as windows and heating/cooling systems, without the energy class improvement requirements of previous Exoikonomó programs.
For example, a maximum loan of €25,000 would result in monthly payments of less than €300 over 7 years.
Additionally, the Renovate-Rent program will be updated in November, increasing subsidies to 60% with a maximum subsidized expense limit of €13,330 euros.
Compared to the Exoikonomó program, the Upgrade My Home initiative offers more flexibility, allowing for specific enhancements (e.g., only air conditioning) without mandatory energy class upgrades, with a view to make home energy improvements more accessible and affordable for a wider range of homeowners in Greece.
