“Device Switch for Businesses”: New subsidy program for energy efficiency upgrades – Who qualifies

Aimed at improving energy efficiency, the new subsidy program called “Device Switch for businesses“, available through gov.gr, allows interested parties to purchase new, energy-efficient equipment such as heating systems with heat pumps, air conditioning units, refrigerators, and other energy-efficient devices. The program covers equipment costs and installation service expenses. It should be noted that project completion has been extended until April 30, 2026.

Read: European Parliament: Supports limiting the Corporate Sustainability Directive – “Simpler rules for fewer businesses”

Business subsidies: How much funding will beneficiaries receive

The subsidy percentage amounts to:

• 50% for small businesses with a maximum eligible expense budget of €20,000 (excluding VAT)
• 40% for medium and large enterprises, with a maximum eligible expense budget of €25,000 (excluding VAT)

The subsidy covers equipment expenses and equipment installation service costs, specifically:

1. Equipment Expenses:

• new heating system using heat pumps (up to 1)
• new solar heating system (up to 1)
• purchase of smart energy consumption measuring devices (behind the grid meter)

2. Service Expenses:

• installation work for new equipment
• issuance of two (2) energy certificates (Energy Performance Certificates – EPC)
• implementation of Energy Audit (if there are expenses in the category of other energy saving interventions)

Who qualifies

The basic requirements for interested parties wanting to receive the subsidy are as follows:

1. Your business must operate in Greek territory, hold a Greek tax number, engage in eligible activities (NACE codes), be established by December 31, 2023, and be active at the time of application submission.
2. The 1st Energy Performance Certificate (EPC) must be issued or submitted within 20 days after submitting the preliminary participation application.
3. The proposed equipment must be installed at the business address and there must be no restrictions (e.g., operating regulations or applicable regulatory framework).

Step-by-step process you need to follow

1. Submit your application
   2. Upon approval, a special secured trust account is created at your chosen financial institution, where the funds are allocated.
   3. Update the information system with purchase documentation.
   4. The eligibility of related expenses is verified.
   5. Submit the 2nd EPC showing achievement of the energy target.
   6. Funds are released to beneficiaries.

You will need your company’s access codes for Taxisnet.