06 Oct Energy Efficiency Grants for SMEs

At ALFATORRES we would like to share this news: energy efficiency grants will total 356.9 million euros; they will be administered by the IDAE and funded by the National Energy Efficiency Fund. This grant program is key to achieving economic recovery.

According to a resolution by the Institute for Energy Diversification and Saving (IDEA) published in the Official State Gazette, an increase in the budget for the grant program aimed at promoting energy efficiency in small and medium-sized enterprises (SMEs) and large companies in the industrial sector has been announced.

More than 950 large companies and SMEs have already applied for 214 million euros to implement energy-saving and efficiency measures. The goal is to reduce CO2 emissions and energy consumption. In addition, it is estimated that the implementation of these energy efficiency plans will mobilize more than 772 million euros.

According to the resolution, subsidies will be provided for technological improvements in both equipment and industrial processes to implement energy management systems. These systems should help reduce consumption and costs for companies, as well as improve their competitiveness and promote job creation. By 2030, this is expected to result in savings equivalent to 10,256 metric tons of oil (ktep). This would represent an annual savings of 1,025 ktep. Energy savings of 500 ktep per year are already expected to be achieved, which would account for 50% of this plan’s annual target.

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