The climate emergency we’re in today calls for some big changes on a global scale. Experts have been sounding the alarm for some time now about this crisis, which is causing significant changes in the weather, the environment, and biodiversity. To stop this from happening, everyone in society needs to do their part to turn things around.
Simple Changes for a Big Impact
We can all play a part in this by making a few simple changes to our lifestyles and how we use our resources. One example is making our homes more energy efficient. Upgrading the insulation on the outside of the house, changing the windows, or replacing the heating and air conditioning system are all ways to make a house more energy-efficient and environmentally friendly.
Financial Support from the EU
However, these changes can be expensive, and not everyone can afford to invest money, even if they want to, in making all these changes. That’s why the EU has launched a residential renovation program. This is part of the Recovery, Transformation and Resilience Plan (PRTR), and it’s got 3.42 billion euros of NextGenerationEU funds.
The goal of this European project is to provide financing for renovations and improvements in residential buildings and dwellings that show a significant improvement in energy efficiency.
How Much Are These Grants?
The amount you get will depend on how much energy you save with the work you do. The more you save, the more money you’ll get back. Each building, house, or apartment block will need different work done (and cost different amounts). But the Ministry of Housing and Urban Agenda says that NextGenerationEU grants cover between 40 and 80% of the cost of upgrading your house or building.
Special Provisions for Vulnerable Situations
In some cases, people in a vulnerable economic situation may even be able to get 100% of the costs covered. The most you could get is 18,800 euros per home, depending on how much energy you save with the renovation.
This aid from the Recovery Plan doesn’t affect your taxes. It’s not considered capital gains in Personal Income Tax (IRPF). Also, the work starts after you’ve received 50% of the economic amount before starting the work, which is different from other aids. Once the application is approved, the money is reserved for the work.
How to Access the Grants
What do you need to do to access them? You need to prove that the renovation project achieves a minimum of 30% energy savings. You can find out how to do this on the website of the Ministry of Housing and Urban Agenda. You can also find out where to go to apply for the grants there.
