State support program for energy-efficient renovation in Armenia  concluded, with no plans for continuation

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.