Are you planning a home renovation in 2024 and looking for information on subsidies? You should know that two programs are expected to run during this period. One program, which is starting now, is “Renovate-Rent,” while in the spring, the “Save 2024” program is expected to launch, with a particular focus on heat pumps.
Let’s go over everything you need to know about these two programs, the criteria required, and what to watch out for during the application process. Regarding the “Save 2024” program, the criteria will be the same as those of the “Save 2023” program.
Renovate-Rent Program 2024
Recently, it was announced that the “Renovate-Rent” program will start soon, with subsidy applications of up to 10,000 euros. This program allows beneficiaries to receive a part of the subsidy upfront, as well as participate in the program with a usufruct share equal to 50%.
Budget and Conditions
The budget for the program amounts to 50 million euros, with 40% of the renovation costs subsidized up to 10,000 euros. The subsidy is granted on the condition that the invoices are paid electronically and that the property is leased for at least 3 years.
Where to Apply
The application is submitted online, specifically through the DYPA platform. To apply, you will need to log in with your Taxisnet credentials.
Eligibility for the Renovate-Rent Program
The eligible beneficiaries of the program are property owners or usufructuaries of a property if:
- They own at least 50% of the property or have a usufruct share of 50% or more.
- The property is located in a residential area and has a maximum area of 100 square meters.
- The annual family taxable or actual income does not exceed 40,000 euros. The value of the real estate property should not exceed 300,000 euros.
- The property to be renovated must not be declared as the primary residence or rented out. Instead, it must be declared as vacant on the E2 form for the past 3 years.
- Beneficiaries must not have received a subsidy for any energy-saving or renovation program for any of their properties in the past 5 years and must not have participated in any subsidized energy-saving program.
Program Conditions
Beneficiaries receive a subsidy for repair and renovation expenses of up to 10,000 euros. This amount is expected to cover the cost of the necessary materials and works. The subsidy, which amounts to 40% of the renovation expenses, will be granted based on the following conditions:
- Invoices must be paid electronically.
- After the work is completed, the property must be leased for at least 3 years.
Save 2024 Program
The European Union has mandated that member states stop subsidizing oil boilers by early 2025, with a ban on their use by 2040. As a result, there is now a strong emphasis on heat pumps. For this reason, in 2024, special attention will be given to this heating method. The “Save 2024” program is expected to launch in the spring on a dedicated platform, similar to previous years’ programs.
What Work is Covered by the Save Program
The program covers all work that contributes to energy savings and the energy autonomy of your home. More specifically, these works include:
- Replacement of windows
- Installation or upgrade of thermal insulation
- Renewal of the heating or cooling system
- Installation of a hot water system using Renewable Energy Sources
- Installation of a smart home management system
Note: The work carried out must meet the energy requirements set out in the “Building Energy Performance Regulation.”
See here all the interior renovation work we undertake.
How to Apply
To apply, you will need to:
- Enter your Taxisnet login credentials.
- Provide your email address and attach the necessary documents.
Required Documents for the Save 2024 Program
To participate in the program, you need to gather the following documents:
- ID Card or Passport of the individual applying for the program.
- Building permit of the property to be included in the program.
- Electricity provider bill.
- The latest Income Tax Return (E1) of the individual applying.
- Copy of Property Details Declaration (E9).
- For rented homes (or those given rent-free), a copy of the Detailed Statement for Property Rentals (E2) and a Declaration under Law 1599/1986 by the tenant stating that they use the property as a home or business.
- For homes used by a co-owner, the two certificates above can be replaced by a copy of the co-owner’s Income Tax Return (E1) if they use it as a residence.
Income Criteria for Save 2024
As with any program, Save 2024 has income criteria, which include:
- Individual income for each beneficiary up to 5,000 euros.
- Family income up to 10,000 euros.
Save Program for Vulnerable Households
According to the Ministry of Energy and Environment, the maximum grant rate is 75% for cases where the applicant resides in the property and 65% for properties given rent-free or rented out.
The new subsidized programs are expected to provide assistance and an incentive for renovating and upgrading the energy efficiency of your property. This way, you can create an investment that can generate income, save energy, and create a pleasant environment. Our company undertakes all the services offered in the new programs, as well as the execution of all home renovation work.
