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Funding for green home improvement grants dries up

Demand for state grants aimed at making homes more energy efficient exceeded the funds available. As a result, on August 17 the National Development Ministry suspended the program and will not accept more applications. Applications sent to post after the suspension are ineligible.

Nearly 550 applications were submitted for “Mi otthonunk felújítási és újotthon-építési alprogram”, a tender on green home renovations which opened on August 15. Experts regarded the HUF 1.6 billion fund available as insufficient, economic daily Napi Gazdaság wrote. Under similar conditions, approximately HUF 10-12 billion would be necessary or double the amount, if newly built properties were involved, they claimed.

The majority of the 2.7 million households in Hungary is in need of green modernization. According to the New Széchenyi Plan, 50-100 homes should be renovated annually. Renovations would require an additional HUF 2 billion household involvement, and would create jobs worth HUF 3.5 billion in the construction sector.

Following the review of application, the ministry will decide whether or not to start another program.