Monaco residents: 5 subsidies to reduce your carbon footprint and your energy bills
Photo by Fabrizio Conti on Unsplash
The Prince’s Government offers several incentives to help you achieve your energy transition.
1. Stop throwing money out the window!
This subsidy is part of the Recovery Plan: you can receive a subsidy of up to 40% of the cost of replacing your windows, with a maximum of 400 euros per window. Bonuses are provided if you use a Monaco-based company to carry out the work.
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It is therefore easier to replace your single-glazed windows to keep out the cold and considerably reduce your energy and financial consumption!
An initial assessment of this operation was carried out at the end of January: since its introduction in August 2020, more than 420 windows have been replaced in the Principality, aided to the tune of 190,000 euros by the Fonds Vert National (National Green Fund). The subsidy will be available for applications submitted before August 31, 2025.
2. It’s electrifying!
If you are still hesitating about trading in your internal combustion vehicle for a cleaner version, you may be interested to know that the Principality introduced a purchase bonus almost thirty years ago, redesigned in 2019.
It is possible to obtain a fixed bonus for the purchase of an electric or hybrid-electric vehicle whose CO2 emissions are below or equal to 110g/km. The bonus ranges between 3,000 and 6,000 euros, depending on the emission rating. Four-wheel vehicles that emit less than 21g/km even qualify for a grant of 30% of the basic price of the vehicle, with a cap of 10,000 euros. Aid for the purchase of electric bicycles is also possible. The amount varies depending on the power.
Another significant advantage: electric vehicles can be recharged free of charge at terminals in public car parks and in the street. Parking is also free on the public highway for VE license plates.
SEE ALSO: Monaco On: an update on EV charging stations
3. Keep a lid on it!
Roofs are considered one of the greatest sources of heat loss these days. A poorly insulated roof wastes energy (particularly in terms of heating), while good insulation can drastically reduce consumption and your bill!
To kill two birds with one stone, the Principality is subsiding roof insulation for homes that are at least ten years old. The subsidy is set at 35% of the cost of the work, with a limit of 50,000 euros.
Again, bonuses are available if you use a Monaco-based company.
4. Let the sunshine in!
To move away from nuclear power and towards clean energy, some owners are ‘going solar’. The equipment is expensive, with installation costs of on average 9,000 to 12,000 euros, according to the supplier Engie.
If you were planning to switch to solar, the Government can provide a subsidy for panels whose installed power is greater than 3 kWp (kilowatt peak, i.e. the installation’s maximum output in normal conditions).
The subsidy is €0.36 excl. VAT/kWh (kilowatt hour) produced for flat roofs and €0.53 excl. VAT/kWh produced for other configurations.
And to go even further in the energy transition, a subsidy also exists for the installation of a complete solar thermal system, to provide heating or hot water in old buildings. The subsidy covers up to 30% of the total cost (equipment and installation), capped at 30,000 euros, awarded after assessment of the project.
SEE ALSO: The Monaco Scientific Centre equipped with solar panels
5. Get tested!
Did you know that it is also possible to get financial assistance from the Government to carry out a complete audit of your home? A legal obligation since 2018, your audit can be subsidised by up to 50% this year, with a limit of 6,700 euros.
Don’t delay: to encourage residents to carry out an audit as soon as possible in order to better understand and limit their energy consumption, the percentage will decrease over time.
SEE ALSO: In terms of savings and the environment, what is the best source of energy in Monaco?