ArmInfo. The state support program for energy-efficient renovation of apartments and private residential buildings, including those designed for the installation of solar panels, has been closed, despite its high degree of effectiveness.
This information was shared in an interview with an ArmInfo correspondent by Hovhannes Abrahamyan, the head of the Regional Energy Markets Department and acting head of the Energy Department at the Ministry of Territorial Administration and Infrastructure (MTAI) of Armenia.
The state assistance program, which subsidizes interest rates on loans for energy-efficient renovation of apartments or private houses for a period of 7 years, was launched in June 2022. Given the great interest in the program and its high efficiency, on February 23, 2024, the program was extended for one year - until July 2025. Official data also demonstrates the program's effectiveness for the final beneficiary. According to the MTAI, throughout the program's duration, approximately 34,000 people benefited from the program, with a total loan portfolio reaching 83 billion drams.
However, the 3 billion budget drams provided for the 2025 financial year did not cover the required amount of subsidies. As it turned out, an additional 4.1 billion drams are still needed to ensure the program runs smoothly this year. On August 21, the Armenian Cabinet of Ministers allocated 3.5 billion drams out of the requested 4 billion drams by the MTUI for the program, . , Abrahamyan says.
The representative of the ministry admits that the program is in high demand by both citizens and businesses. However, he points out that it should be taken into account that the program was initially designed for only 200 beneficiaries, the number was later expanded to 1,000, then to 2,000, and now exceeds 34,000. As a result, starting with a budget of 40 million drams (this is how much the program budget was estimated at the start), the program has now reached an annual budget of 7 billion per year.
The representative of the MTAI does not rule out that, with the corresponding instruction of the Prime Minister, a new similar program will be developed. However, the decision to close the program is final today, Abrahamyan concluded.
