In an effort to increase its renewable energy generation, Malta has started a photovoltaic subsidy and rebate scheme worth €21 million. The European Regional Development Fund (ERDF) is co-financing the fund and will pay a feed-in tariff (FiT) rate of €0.22/kWh for each unit generated from PV panels and fed into the national grid.
The FiT will be available for six years, “Consumers will be able to benefit from a 50% subsidy, up to a maximum of €2,500, on the purchase of the PV panels.”
The Malta Resources Authority (MRA), which is in charge of regulating water, energy and mineral resources, will administer the scheme.
Both consumers and businesses (that invest in solar PV) will be able to benefit from the subsidy. The feed-in tariff could reach an estimated 8,000 families and 50 business enterprises while injecting over €42 million into the economy, according to energy minister Konrad Mizzi.
In addition to the FiT, Malta is offering two other schemes related to energy efficiency improvements.
“Mizzi said the government will also reopen the solar water heaters, and roof insulation and double glazing schemes, intended to improve domestic energy efficiency rates. Beneficiaries can cover up to 40% or a maximum of €400 of their solar water heater expense, and up to 15.25% or a maximum of €1,000 for roof insulation and double glazing. The total of available funds will be €600,000.”
This coming summer, Malta plans to add additional renewable energy schemes to help with its renewable energy generation. It has been lagging the rest of the EU in this arena.