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Home - Finance - Hungary’s residential PV subsidy program attracts 20,000 applicants – SPE
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Hungary’s residential PV subsidy program attracts 20,000 applicants – SPE

solarenergyBy solarenergySeptember 17, 2024No Comments2 Mins Read
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The Hungarian government says 20,000 households have signed up for the PV subsidy program, which offers up to HUF 5 million ($14,125) per home installation. The original budget of HUF 75.8 billion was increased by HUF 30 billion in July.

September 17, 2024 Lior Kahana

The Hungarian Ministry of Energy has said that more than 20,000 households have signed up for the Napenergia Plusz programme, a subsidy scheme for installing solar panels and storage systems for homes. The government offers a maximum of HUF 5 million per home, with the average application amounting to HUF 4.1 million.

“The program increases the self-sufficiency of households and can reduce their electricity bills,” the ministry said. The storage and local use of the green energy produced reduces the load on the electricity grid. The program strengthens Hungary’s energy sovereignty and the security of domestic energy supplies.”

The program started in January with a budget of HUF 75.8 billion, which was raised by HUF 30 billion in July. According to the ministry, it aims to support 25,000 households by covering two-thirds of the installation costs.

The ministry expects the program to increase Hungary’s solar capacity by more than 1 GW this year, consistent with the growth of the past two years. As of early September, more than 280,000 solar power plants the size of households were in operation in the country.

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See also  Uncertainty looms as US solar PPA prices rise for the second quarter in a row – SPE

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