The Ukrainian government has launched a program enabling homeowners' associations (HOAs) of apartment buildings to receive compensation for installing solar power plants. This is an excellent opportunity for HOAs to not only reduce electricity costs but also contribute to the development of green energy in the country.
How to Receive Compensation
To qualify for the compensation, HOAs must complete the following steps:
- Conduct an energy audit of the building to assess the energy-saving potential of installing solar panels.
- Develop a project for installing a solar power plant.
- Submit an application for compensation to the Energy Efficiency Fund.
- Install the solar power plant in accordance with the approved project.
- Receive the compensation after commissioning the plant.
Benefits of Installing Solar Power Plants for HOAs
Installing solar power plants offers numerous advantages for HOAs, including:
- Reduced Electricity Costs: Solar panels generate electricity from sunlight, significantly lowering or even eliminating HOAs' electricity expenses.
- Increased Energy Independence: With self-generated electricity, HOAs become less dependent on energy suppliers and price fluctuations in the energy market.
- Reduced CO2 Emissions: Solar energy is a clean energy source that does not produce greenhouse gas emissions, helping HOAs reduce their carbon footprint and contribute to combating climate change.
- Increased Property Value: Buildings equipped with solar panels typically have higher market value, making them more appealing to potential buyers or renters.
The government provides additional incentives for HOAs interested in installing solar power plants, including:
- Reduced VAT on equipment and installation services for solar power plants.
- Access to low-interest loans for financing the project.
- Free consultations and technical assistance from specialists at the Energy Efficiency Fund.
