Energy Saving and Autonomy Programme (Exoikonomo – Aftonomo)

Your financing

The financing you receive through the Energy Saving and Autonomy Programme is:

• Up to €50,000 per home.
• Up to €100,000 per beneficiary Tax Number (when applying for more homes).

For works in communal spaces of apartment buildings (Type B apartment building application), the total eligible budget may reach €80,000.

The Programme covers a maximum unit cost of €1.20 per saved kWh.

Subsidy and/or loan

It finances the energy efficiency and autonomy improvement to your home through:

1. Subsidy, up to 85% of your budget, depending mostly on your income. Under certain conditions, the subsidy may reach 95%.
2. Additional loan (optional) with 100% subsidised interest rate to finance the remaining amount required for the works.

Find out the subsidy percentage you are eligible for and what to know if you need a loan.

Covered expenses

The additional expenses covered by the Energy Saving and Autonomy Programme are:

• 1st (initial) and 2nd (final) energy inspection of the property. After each energy inspection, you pay the energy inspector fee yourself and get a receipt. The energy inspector fees, based on the receipts you have uploaded on the Programme platform, are credited to your account with the final disbursement of the Programme.
• Project consultant fee (optional) for submitting your application and guiding you during the Programme.
• Fees for any required studies and approvals.

Find out which works are covered by the Programme.

Detailed information about the programme

The Programme is funded by the Operational Programme Competitiveness, Entrepreneurship and Innovation (EPAnEK) and the Regional Operational Programmes (ROP) Eastern Macedonia and Thrace, Central Macedonia, Epirus, Thessaly, Western Greece, Attica, Southern Aegean, Sterea Ellada, Western Macedonia, Peloponnese, Ionian Islands, Northern Aegean and Crete, that fall under the Partnership Agreement 2014-2020. The Hellenic Development Bank SA is the beneficiary of the programme.

Find out more about the Energy Saving and Autonomy Programme (Exoikonomo-Aftonomo) on the Ministry website and apply online at https://exoikonomo2020.gov.gr (only available in Greek).

For you

To be eligible for the Energy Saving and Autonomy Programme, you should:

1. Be a natural person.
2. Own the property, that is, to have full or bare ownership, or enjoyment.

If you are not the sole owner of the property, the co-owners need to consent for you to be included in the Programme.

For your income

Depending on your family status, you must have declared:

• If you are single – up to €90,000 in annual personal income.
• If you are married or have entered a cohabitation agreement – up to €120,000 in annual family income.

For your property

You may carry out works to improve the energy efficiency of an apartment, house or apartment building.

The property you wish to include in the Energy Saving and Autonomy Programme should meet the following requirements:

1. It should be your primary residence. You are also eligible for the Programme when you only have full ownership or enjoyment, provided that during the last tax year (2019) the property was: 
   • Acquired.
   • Empty.
   • Rented (including short-term leases).
2. It should be legitimate, that is, there should be a building permit or other legal documents.
3. It should have an energy class lower than or equal to C.
4. It should not be marked for demolition.

To improve energy efficiency

The Energy Saving and Autonomy Programme covers various works, including:

• Replacing door and window frames.
• Installing / replacing the thermal insulation.
• Upgrading the heating / cooling system.
• Upgrading the water heating system and switching to renewable energy sources.

To achieve energy autonomy and electro-mobility

The Programme also covers the installation of systems and infrastructure that promote energy autonomy and electro-mobility:

• Generating electrical power by installing home photovoltaic systems. Provided that:

1. The photovoltaic system is used to cover electricity needs using net metering.
2. After all other energy efficiency improvements, the property has an energy class of B+ or higher.

• Energy storage systems – only as an additional intervention when installing a new photovoltaic system.

• Charging points for electric cars.

To install smart automation systems

The Energy Saving and Autonomy Programme also allows you to install smart digital and home automation systems (Smart Home), such as:

• Lighting – e.g. smart sockets, LED lights etc.
• Heating / cooling system management.
• Remote control – e.g. WiFi sensors.

Provided the installed automation systems can:

1. Adjust and maintain energy consumption at the level you choose, aiming to save energy – appliances, lighting, heating / cooling, heated water etc.
2. Record and process energy consumption data.
3. Adjust and maintain the level of shading.

To carry out works in communal spaces

The Energy Saving and Autonomy Programme also covers works carried out in communal spaces of apartment buildings:

• Lift upgrade – works for certification according to Joint Ministerial Decision No. 28425/2018 and installation of inverter to reduce the carbon footprint of the lift.
• Lighting system upgrade – e.g. LED lights, smart time-management systems for lighting, motion activation circuit etc.

To reduce energy consumption

All works must aim to radically reduce energy consumption. The Programme:

• Aims to upgrade your property by a minimum of 3 energy classes, once all works are completed (minimum energy target). The minimum energy target does not apply to works in communal spaces of apartment buildings (type B apartment building application).
• Covers a maximum unit cost of €1.20 per saved kWh.

The 2nd (final) energy inspection certifies whether your property has achieved the minimum energy target provided in the Programme. If not, the decision for your inclusion in the Energy Saving and Autonomy Programme is revoked and you will not be able to receive the relevant subsidies.

A certified energy inspector can explain to you how the energy consumption reduction is calculated.

Find out how to get informed guidance every step of the way.

Expert project consultant

You may contact a project consultant who specialises in the Energy Saving and Autonomy Programme (Exoikonomo – Aftonomo) procedures.

The expert project consultant:

• Helps you fill in your online application.
• Guides you every step of the way up to the final disbursement.

Their fees are covered directly through the Programme, without you having to pay any extra.

Certified energy inspectors

The first and second energy inspection should be performed by 2 different certified energy inspectors.

The energy inspector explains to you all you need to know, such as:

• The works that should be carried out for the property to achieve the minimum energy target, that is, to be upgraded by a minimum of 3 energy classes.
• How the reduction in energy consumption is calculated.
• The energy class of your property before and after the energy efficiency improvements etc.

During both the 1st (initial) and 2nd (final) inspection of your property, the energy inspectors prepare Energy Performance Certificates.

After each energy inspection, you pay the energy inspector fee yourself and get a receipt.

The energy inspector fees, based on the receipts you have uploaded on the Programme platform, are credited to your account with the final disbursement of the Programme.

If your property is an apartment or house

If you are single, the subsidy percentage depends on your income class, based on your annual personal income:

• Class 1 – up to €10,000, you get a 65% subsidy.
• Class 2 – from €10,000 to €20,000, you get a 55% subsidy.
• Class 3 – from €20,001 to €30,000, you get a 50% subsidy
• Class 4 – from €30,001 to €50,000, you get a 45% subsidy.
• Class 5 – from €50,001 to €90,000, you get a 35% subsidy.

If you are married or have entered a cohabitation agreement, the subsidy percentage depends on your income class, based on your annual family income:

• Class 1 – up to €20,000, you get a 65% subsidy.
• Class 2 – from €20,000 to €30,000, you get a 55% subsidy.
• Class 3 – from €30,001 to €40,000, you get a 50% subsidy
• Class 4 – from €40,001 to €70,000, you get a 45% subsidy.
• Class 5 – from €70,001 to €120,000, you get a 35% subsidy.

If your property is an apartment building

You get 60% financing for works that improve energy efficiency and autonomy:

• For individual apartments and communal spaces. The application for the subsidy is submitted by the representative of the apartment building and the owners of the apartments – Type A apartment building application.
• For communal spaces only. The application for the subsidy is submitted by the representative of the apartment building – Type B apartment building application.

Additional subsidy

Through the Energy Saving and Autonomy Programme you may receive additional subsidy:

• Due to COVID-19 – you get an additional 10% subsidy up until the end of 2021, due to the COVID-19 pandemic crisis.
• For major energy upgrades – you get an additional 10% subsidy for upgrading your property from energy class F or G to B or higher. Provided the property is not a Type B apartment building.
• Fair transition clause for lignite regions – you get an additional 10% subsidy if your property is located in a lignite region within the municipalities of Kozani, Voios, Velvento, Eordaia, Servion, Florina, Amyntaio, Prespes, Megalopoli or Gortynia.

If you fall under Class 1, based on your income, and you also meet all requirements for an additional subsidy, you may receive a total subsidy up to 95% of your budget.

Example

Suppose you own an apartment or house and your annual family income amounts to €18,000.

You may receive up to 95% subsidy through the Programme to upgrade the energy efficiency of your property:

• 65% subsidy because you fall under Class 1.
• 10% additional subsidy due to the COVID-19 pandemic.
• 10% additional subsidy if your property is upgraded from energy class F or G to B or higher.
• 10% additional subsidy if your property is located in a lignite region.

You may use the loan to cover the remaining amount according to the eligible budget.

Part of the funding comes from the European Regional Development Fund (ERDF) and national resources.

The loan may amount up to €27,000. Eurobank funds 2/3 and the Hellenic Development Bank funds 1/3.

Fixed interest rate

Throughout the term of the loan relating to the Energy Saving and Autonomy Programme, the interest rate is fixed and equal to:

4% interest rate (100% subsidised)
+ 0.12% (Law 128/1975 levy)

The Law 128/1975 levy is calculated only for the principal amount funded by Eurobank.

100% interest rate subsidy

Interest is 100% subsidised until loan maturity through the Energy Saving and Autonomy Programme.

If you choose to receive the loan in multiple disbursements (advance payment), the loan instalments you pay include both principal and interest. Interest is repaid to you with the final disbursement.

After the final disbursement, the loan instalments include no interest.

Law 128/1975 levy

The Law 128/1975 applies throughout the loan term and is not subsidised by the Programme.

Loan amount

The final loan amount depends on:

• The total cost of works and your available funds.
• Your credit rating.

The loan is not required for you to be included in the Energy Saving and Autonomy Programme.

To calculate the loan amount you need to:

1. Calculate the subsidy you get through the Energy Saving and Autonomy Programme.
2. Deduct the subsidy any own available funds from the total budget.

Loan = budget – subsidy – own funds (if any are available)

Example

Suppose your budget for the energy efficiency improvements amounts to €20,000 and:

• Your annual personal income amounts to €25,000.
• Your available funds amount to €3,000.

From the €20,000 budget, deduct:

• €12,000 (60%) for the subsidy – 50% for falling under Class 3 and an additional 10% due to COVID-19.
• €3,000 for your own funds.

Therefore, you need a loan of €5,000.

From 4 to 6 years

Your loan term can be 4, 5 or 6 years.

Note, though, that at maturity, the youngest party should not be older than 75.

Without collateral

The loan you can get within the Energy Saving and Autonomy Programme requires no collateral (e.g. pre-notice of mortgage, mortgage or other commitment).

Lump-sum or multiple disbursements

You may receive your loan in 2 ways:

• Lump-sum disbursement – One disbursement at the end, after all works have been concluded.

or

• Multiple disbursements (advance payment) – Two disbursements when you need part of the loan as advance payment for the works.

When you choose multiple disbursements:

• The advance payment is equal to 70% of the loan amount.
• The final disbursement takes place after the energy efficiency improvement works have been concluded. You receive the subsidy amount, the remaining loan amount, the energy inspector fees and any interest you have paid.
• If the Programme energy consumption targets are not met, you need to return the advance payment and repay the loan and interest.

In all cases, you upload the Energy Performance Certificate on the online platform after the second inspection.

The project consultant helps you gather and upload all other required documentation throughout the Energy Saving and Autonomy Programme (Exoikonomo – Aftonomo) procedure.

Monthly instalments

Before the final disbursement, if you have opted for multiple disbursements and have received the advance payment, your monthly instalment pays interest, part of the principal and the Law 128/1975 levy.

After the final disbursement, your monthly instalment repays part of the principal and the Law 128/1975 levy.

We collect the instalment on the first working day of each month. The amount is withheld automatically through your loan account.

You must have enough available balance in your account and duly repay your loan. If you fail to pay 3 instalments, the interest rate subsidy is revoked.

Early repayment

You may repay the outstanding balance of your loan, in full or in part, at any time. There is no extra charge.

Find out the terms and conditions for this promotion.

Redeem the euros you earned in more than 8,500 partner retailers who have joined the programme. All you have to do is pay for your transactions with an active Eurobank debit or credit card linked to the €pistrofi card loyalty programme.

Discover all benefits offered by the €pistrofi loyalty programme.

Lower energy bills

Through the energy efficiency improvements, you consume less energy for heating or cooling. For example, your energy bills get lower and you save:

• Up to 80% if you install a heat pump to replace the burner or boiler.
• Up to 40% if you insulate your roof or install thermal insulation.
• Up to 20% if you replace your window frames and install double glazing.
• Up to 18% if you install a natural gas burner or boiler.

You may save more money by:

• Installing LED lights instead of conventional light bulbs.
• New technologies to remotely manage and monitor your appliances through your computer or mobile phone – e.g. smart switches and sockets.

Higher property market value

The higher energy performance increases the market value of your property. If you wish to sell or rent it, you will be able to get a better price.

Selling electricity to the PPC

If you install a photovoltaic system on the roof of your home, you can generate electricity and sell it to the PPC. The money you receive net off with your electricity bills for the electricity you have consumed (net metering).

This way, you can reduce your electricity cost by up to 70%.

Less transportation costs

Through the Energy Saving and Autonomy Programme, you can install electro-mobility infrastructure at your primary residence.

This way, after buying an electric car, you can drive around without paying for fuel, while also respecting the environment.

Discounts for life and home insurance

If you also get a Eurobank loan, you can get discounts on the premiums of any new insurance plans with Eurolife FFH:

• 25% discount for sweet home smart home insurance.
• 10% discount for Credit Life mortgage insurance life – it only applies to the loan you have received within the Energy Saving and Autonomy Programme.

To be included in the Energy Saving and Autonomy Programme (Exoikonomo – Aftonomo), submit your application online through the dedicated platform: https://exoikonomo2020.gov.gr (only available in Greek).

Yes. The Energy Saving and Autonomy Programme provides for 2 energy inspections:

• 1st energy inspection – It is required for you to be included in the programme. The energy inspector prepares a report in which they identify the works that should be carried out to upgrade the energy efficiency of the property.
• 2nd energy inspection – It is required once all works have been completed, to verify that you have met the energy target set by the Programme and to proceed with the final loan disbursement.

For the first and second energy inspection, you need to go to 2 different energy inspectors.

No. When the cost for upgrading the energy efficiency is higher than the subsidy, you can use your own funds to cover it.

If you need additional financing for the works, you can submit an application to receive a loan with 100% subsidised interest rate.

Find out all there is to know if you need a loan.

If you participated in the first Saving at Home Programme (2011-2015), you may also participate in the Energy Saving and Autonomy Programme (Exoikonomo – Aftonomo), provided that you meet all requirements.

If you participated in the second Saving at Home II Programme and were included in it, you cannot participate in the Energy Saving and Autonomy Programme (Exoikonomo – Aftonomo) for the same property.

Find out whether you are eligible for this new programme.