Investment Incentive support1 is available from the REECL Programme in conjunction with the Sub-loan financing from the Participating Financial Institutions.
Dwelling-level Sub-projects (one2 or two3 family houses): Subject to the REECL terms and conditions, Sub-borrowers (Individuals, Service Providers or Associations of Apartment Owners) are eligible to receive an Investment Incentive payment of an amount equal to 10% of the lower of (i) the disbursed amount of the Sub-loan, and (ii) the eligible Investment Cost (determined by the REECL Project Office) of the following Dwelling-level Sub-projects:
- supply and installation of one or more Eligible Measures in legally registered existing houses
- eligible Investment Cost4 (EEEC) of new builds
Building-level Sub-projects (Apartment Buildings5): Subject to the REECL terms and conditions, Sub-borrowers (Individuals, Service Providers or Associations of Apartment Owners) are eligible to receive an Investment Incentive payment of an amount equal to 20% of the lower of (i) the disbursed amount of the Sub-loan, and (ii) the eligible Investment Cost (determined by the REECL Project Office) of the following Building-level Sub-projects:
- supply and installation of the same Eligible Measures6 in three or more legally registered dwellings in existing Apartment Buildings, in accordance with the approved Sub-project file7 for sustainable energy improvements on the whole building.
- eligible Investment Cost4 (EEEC) of new builds
The aggregate amount of Investment Incentive payable to a Sub-borrower under REECL shall not exceed: €5,000 with respect to any Individual, and €200,000 with respect to a Service Provider or an Association of Apartment Owners.
The maximum aggregate principle amount of Sub-loans in respect to a Dwelling-level Sub-project shall not exceed €50,000 and, for a Building-level Sub-project, €1,000,000.
Upon successful completion of their Sub-projects, Sub-borrowers must apply for their Investment Incentives within 4 months from the date of signing their Sub-loan agreements in respect of Sub-projects implemented in existing buildings, or within the agreed timeframe for Sub-project completion in respect of new builds.
Sub-borrowers should apply for their Investment Incentive by submitting the following documents to their Loan Officers, obtained from their Eligible Installers/Suppliers:
For Existing Buildings:
- Investment Incentive Application Form
- Completion Certificate8 for the implemented Sub-project
- Receipt or Bank transfer confirmation.
For New Builds:
- Grant Application Form
- Completion Certificate (Permit of Use) for the implemented Sub-project
- Technical Passport
- An updated Designed Energy Performance Certificate if in the process of construction the designed energy performance the building has changed
The Participating Financial Institution may request further technical details or other supporting documents if deemed necessary to verify satisfaction of the REECL terms and conditions. The REECL terms and conditions are detailed in both the REECL Sub-loan agreement and Sub-loan/Investment Incentive application forms available at branches of the Participating Financial Institutions.
If you need more information about the Investment Incentive under REECL, please contact us by e-mail: firstname.lastname@example.org
If you wish to make a suggestion or a complaint, you can lodge it in your bank branch or submit it directly to the administrative office of the REECL Programme by e-mail: email@example.com
1 If any eligible project costs are partly or fully covered by other grant programmes, such costs are not eligible under REECL.
2 One-family house contains one legally registered dwelling.
3 Two-family house contains two legally registered dwellings.
4 Eligible Investment Costs for new buildings are determined according to the following Methodology.
5 Apartment Buildings contain three or more legally registered dwellings.
6 Partial applications for external thermal insulation of walls, roofs and floors in Apartment Buildings are not eligible. Solar hot water, gas and biomass heater/boiler Sub-projects in individual dwellings in an Apartment Building are not eligible if it is connected to district or central building heating systems.
7 The approved Sub-project file for the whole Apartment Building includes Conceptual Designs, Specifications, Quotations and Investment Cost Payment Distribution Agreement between apartment owners. The Sub-project file must be approved by the General Assembly Meeting of the apartment owners.
8 The Completion Certificate should contain the full name and address of the Sub-borrower, complete address of the Sub-project, complete name(s) of the installed Eligible Measures/Technology, detailed description of completed Sub-project with detailed specifications of installed equipment and materials, date of completion and name of the company-authorised person. The Completion Certificate should be signed and sealed by the authorized person.
9 The original invoice contains at least: date, name, address, registration of the Eligible Supplier/Installer; technical specifications and details (including price) of the eligible equipment installed; address of dwelling/building where such eligible technologies will be installed; name and address of the Sub-borrower, and status of payment.