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HUF 100 bln in grants, loans available for energy-saving renovations from 2011

An annual HUF 100 billion in loans as well as state and European Union funding will be available for energy-saving building renovations from January, state secretary in charge of energy affairs and home creation at the National Economy Ministry János Bencsik said at a conference organized by the ministry and the Hungaricum Group.

As many as 100,000 homes could be renovated annually in the early stage of the program, with their number growing to 150,000-200,000 later, reducing their energy consumption by 70%-80%, Bencsik said.

The money will come from the regrouping of existing EU funding, from revenue from the sale of the state's emissions quota and from a “green bank”. The EU and state funding will cover half of the cost of the renovations and the green bank can lend homeowners the rest. Energy savings will cover the loan repayments. (MTI – Econews)