24 JUNE 2021
Balearic government grants for photovoltaic self-consumption
The balearic island government has approved a series of grants and subventions for solar panel installations that will be used for self-consumption of energy
Since december 2020, the balearic counseling for Energetic Transition and Renewable Energies has approved a series of subventions destined to promote photovoltaic installations for privates and enterprises. In the following article, we will present you with the benefits you could use if you install solar panels for self-consumption.
If you were thinking of installing solar panels -so if you were not- and you live in the Balearic Islands this is great news to you. Balearic Islands are well known for being one of the spanish territories with the most hours of sun and this favours the normalization of the use of solar self-consumption systems. Moreover, you have lots of options for federal grants and subventions which make the installation of those systems a very interesting alternative to get energy.
But before we say anything, let’s remember one of the fundamental aspects to consider when talking about solar panel acquisition. We do not get tired of repeating this: these installations ussually redeem the initial investment cost in less than ten years because of the saving of electric bills they produce. And sometimes, even five years are enough to do the math. After that, they can reduce the cost of the energy you consume up to 50%.
This leads us to the following point. The majority of spanish communities are setting up packages of funds to alleviate initial investment of the self-consumption consumer in order to promote and foment the popularization of solar energy production. Balearic localities are no exception to this, as everyone of them will offer different loans and grants depending on which place you live.
Given the gifted situation of the islands, and also their necessity to import goods of all kinds, such as energy, the local government is seeing in solar self-consumption a real solid alternative and they are investing in it in the long term.
The most interesting aid you could get comes in the form of a bonus in the IBI and ICIO, up to 50% in case you are a private and willing to make a new installment; and up to 30% if it is a business. Also, new extensions to already built installations will be included.
But even more, you will get a reduction on IRPF taxes. So far, so good!