The Principality’s economic recovery plan: the Green Fund

With the energy transition representing one of the main drivers of the Principality’s economic recovery plan, the Prince’s Government recently published a practical guide to all of the specific measures it has adopted, including environmental measures under the Green Fund.

Established in 2016, the National Green Fund is designed to provide Monaco with the financial means to take long-term action to secure a successful energy transition. As part of the recovery plan, an additional €25 million has been injected into the Green Fund to support businesses and individuals to make the transition.

With this in mind, there are four types of support, which are described in detail on the Mission for Energy Transition website and coordinated by the Ministry of Public Works, the Environment and Urban Development. These cover:

• A subsidy for renovating windows

• A subsidy for appliances and fixtures that support energy transition

• Calls for renovation projects that are exemplary from an energy perspective

• A review of the conditions for purchasing clean energy vehicles or electric bikes

1. Renovation of windows in private properties

The Government is particularly keen to support a vast programme to renovate windows in private properties. This falls under the strategic targets on reducing greenhouse gas emissions and managing demand for energy, as well as on improving quality of life.

Full information about this subsidy is available from: https://transition-energetique.gouv.mc/Moyens-d-action/Subventions/Subvention-pour-la-renovation-des-fenetres

2. Financial support for the purchase of small appliances and fixtures intended to reduce energy consumption

The National Green Fund also enables financial support to be offered for small appliances and fixtures intended to reduce energy consumption in private homes and businesses. A number of conditions apply, see the following link for details: https://transition-energetique.gouv.mc/Moyens-d-action/Subventions/Subventions-pour-les-equipements-et-amenagements-en-faveur-de-la-transition-energetique

3. Call for exemplary renovation projects

 In a similar vein, and to give a boost to energy-efficiency upgrades for existing buildings, the Government has issued a call for exemplary renovation projects. This initiative, which prioritises the oldest buildings and those responsible for the highest greenhouse gas emissions, offers a subsidy for studies and work with strong potential to reduce greenhouse gas emissions as highlighted following energy audits. (It should be noted that projects are required to comply with a BD2M approach.)

For more information about the BD2M approach, see: https://transition-energetique.gouv.mc/BD2M

4. Subsidy for the purchase of clean energy vehicles or electric bikes

Finally, with regard to electric transport, a subsidy for the purchase of clean energy vehicles or electric bikes from a sales outlet in the Principality is available until 30/06/2021. A number of aspects of the scheme have been changed: the cap on the amount of subsidy available, the subsidy for two-wheel electric vehicles and the subsidy for some types of clean energy vehicles.

For full information on the scheme, see: https://en.service-public-entreprises.gouv.mc/Covid-19/Economic-recovery/Green-Fund/How-to-obtain-a-subsidy-for-buying-a-clean-energy-vehicle

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Other economic, social and financial measures have also been introduced as part of the economic recovery plan.

Find out more about them here: https://en.service-public-entreprises.gouv.mc/Covid-19/Economic-recovery

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