Until 31 December 2023, public subsidies are available for installing renewable thermal energy systems in the residential sector and for using renewable energies for own consumption and storage.
As part of the EU funds for repairing the damage caused by the COVID-19 crisis and with the aim of building a more sustainable future via reforms and investment, a range of subsidies are on offer for adopting renewable energy own-consumption and storage systems and renewable thermal energy systems in the home.
Eligible for these subsidies are individuals and companies not selling goods or services and homeowners associations. In other words, the typical clients of our firm — private homeowners, the self-employed, foundations and asset-holding company — are eligible.
These subsidies are available for own-consumption using renewable energy, solar or wind power in the residential sector, with or without storage capacity, and home air-conditioning and hot-water systems using solar thermal, biomass, geothermal, hydrothermal or aerothermal technologies. The subsidies range from €550-€13,500 per dwelling. Subsidy applications are processed strictly on a first come, first served basis and only until the funds are used up. For individuals and companies running businesses, the subsidies can take into account the income of the business activity or the capital gains, depending on the aim of the subsidy. For individuals, the subsidies will not be included in the taxable base for personal income tax calculation.
If you’re interested in installing this type of system with the help of a subsidy, we can assist you. Please get in touch.
Carlos Prieto Cid – Your legal adviser in Spain