THE Spanish government has approved a €7.1 million investment in the Balearic Islands under its plan for making buildings more energy efficient.
Balearic government Vice-President and Energy Transition and Productive Sectors regional minister Juan Pedro Yllanes explained the investment will be for funding improvements to the energy efficiency of buildings constructed before 2007.
The subsidies will cover up to 35 per cent of the cost of actions like changing thermal insulation, replacing old boilers for renewable options like solar power and improving lighting efficiency.
According to Yllanes 60 per cent of buildings on the islands are not complying with energy regulations.
The investments will “enable another step towards energy transition in the construction sector, will lower the cost of electricity and will achieve the goals of the decarbonisation of the islands”, the Vice-President said.
A further bonus he maintained will be the creation of “quality jobs.”
Yllanes also explained the programme would be of particular help to the most vulnerable groups, with consumers accredited as such receiving an additional 15 per cent in assistance.
Energy and Climate Change director general Aitor Urresti, who was also present at the programme presentation, commented that the financial assistance will be “of particular interest to the tourism sector.”
Hotels will he said “now have the opportunity to make their facilities more sustainable and therefore more financially profitable.”
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