Legislators on Tuesday got a first glimpse of the 2019 draft budget for the Renewable Energy Sources (RES) Fund, discussing ways of further increasing the penetration of renewables into the energy mix.The budget provides for €49.28m in projected revenues, while expenditures are at €64.96m.
On the expenditures side, €58.61m are earmarked for commitments to subsidies, of which €29.81m relate to generating electrical power from renewables.
The €29.81m figure includes €25m for a new subsidies plan to encourage use of renewables and energy-saving for residences (net metering, roof insulation) and promoting RES in transport (plug-in hybrid vehicles).
Continue reading at source: Cyprus Mail
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