Algarve PhotoVoltaic PV Grants NOW OPEN!!

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SOLAR ELECTRICITY PANEL GRANTS ARE OPEN AGAIN!

The grant for Photovoltaic or PV is now definitely going ahead next year January 2012 and we are now taking orders.

The bad news is that there is only an allocation of 10 Megawatts this year which equates to about 2500 systems across the whole of Portugal. Last year the allocation was 30 Megawatts which is approximately 9000 systems and that allocation was used up within about 9 months. The demand this year is much greater due to the amount of foreign residents who have installed the UK system.

This means you have to act now if you want to take advantage of this grant as there is already a reserve list for applications in January.

In short:

• The average price of a 4.8kw system (36m2 of panels) will be 15000 plus IVA
• The average price of a 3.6kw system (26m2 of panels) will be 14000 plus IVA
• The price is indicative as there may be some extra building work such as getting the cables to the meter but it is never usually much higher
• The price you sell back to the EDP is 32.6 cents per kw for the first 8 years and 18.5 cents per kw for the next 7 years
• Payback is on average 6 years.
• A registration fee is payable of 615 Euros which puts your name on a rolling list for when applications are started in January (the sooner you do this the better as there is now lots of demand)
• The IVA rate this year is 13% but it goes up next year to 23% - so there is an option to pay this year at the cheaper IVA rate - the equipment is bought and stored (at your residence if you wish) - and installed next year once your application is successful. If for some reason your application is not successful this money is refundable and equipment returned.
• If you decide to go ahead we arrange a technical survey to finalize all the costs and send through a definitive quote.

THE OLD SOLAR HOT WATER HEATING GRANT IS NO LONGER AVAILABLE -

The Ministry of Economy and Innovation in Portugal launched a program to encourage the purchase of renewable energy.

A 'turnkey' solution was devised which included the purchase, installation, maintenance and security of all equipment at a discount of more than 50% over the selling price to the public.

The immediate benefits were:

1) An initial grant € 1641.70 is awarded for the installation of solar panel solution.

2) The deduction of 30% of the cost of investing in IRS tax benefits.

3) Loans are also available for easy payment terms.

	200L Thermosiphon	300L Thermosiphon	300L Forced Circulation
	Tank and one solar panel on the roof.	Tank and two solar panels on the roof.	Two solar panels on the roof and tank situated on the ground.
Original price of Equipment	2720.00 Euros	3550.00 Euros	4870.00 Euros
Grant Available	1641.70 Euros	1641.70 Euros	1641.70 Euros
What the customer has to pay (incl. IVA)	1078.30 Euros	1908.30 Euros	3228.30 Euros
Value that can be deducted from IRS	323.49 Euros	572.49 Euros	796.00 Euros
Effective price the customer pays (incl. IVA)	754.81 Euros	1335.81 Euros	2432.3 Euros

The are some conditions to getting this grant were :-

1. You need to be physically in the country for us to arrange the grant with your bank

2. It is slightly bureaucratic, but we will try to take as much pain out of the process as possible.

3. It is not known how long these grants will last.