Green Energy – Episode 2 Effective energy efficiency? Green Energy and Subsidies in Hungary, such as EKR, TAO discount, other cash grants? Let’s clarify the terms and see how we can make our energy efficiency investment cost-effective. We closed the first article of our GreenGrantsGuide blog series by gathering information on the areas affected by the green transition and the steps and measures necessary to achieve the 2030 climate goals. Among these, ENERGY EFFICIENCY played a key role. This article of the GreenGrantsGuide focuses on this topic and shows the available resources and how to combine them consciously. Let’s go through them one by one. EKR or the Energy Efficiency Obligation Program Under the EKR, companies can not only save energy but also earn money. This is because energy companies – such as electricity, gas, or heat providers – are obligated by the government to achieve a specific amount of energy savings within a given time period. These savings can be achieved in various ways, such as by installing energy-efficient equipment, insulation programs, introducing energy-conscious technologies, or involving other market players and realizing energy savings through their investments. That is, energy companies can offer various incentives (e.g., discounts, subsidies, or free services) to encourage consumers to make energy efficiency investments. What does this mean for a company? It means that the company can sell its certified energy savings (HEM) generated from its energy efficiency investment on the market, providing an additional revenue source, apart from the cost savings. As a result, the payback period for energy efficiency investments can be much quicker. ...
The conditions for the „Support for Focus Area Innovation Projects” under the „GINOP Plusz 2.1.1-24” subsidy scheme have been published. Starting from November 13, applications can once again be submitted for the Focus Area Innovation Projects subsidy, with non-repayable support ranging from 300 million HUF to 800 million HUF. Main Features of the GINOP Plusz 2.1.1-24 Subsidy: Eligible Activities for the Subsidy: For detailed rules and further information, click [here].
The new New SME Investment Subsidy and Loan Program Announced by Minister Márton Nagy consists of two main pillars: a new investment subsidy for SMEs and an export-promoting loan program. Minister Nagy emphasized the need to build a targeted investment support system for SMEs, similar to the VIP Cash Grant program that supports large investments. What can be expected from such a new SME VIP Cash Grant program, and what could be its key advantages? Loan Program If the program successfully combines the strengths of the currently popular VIP Cash Grant and the needs of the SME sector, it could provide a tremendous boost for domestic businesses. We will provide detailed information about the specific rules of the SME VIP Cash Grant program after its official launch. For further ...
Under the GINOP Plus program, HUF 910 billion of EU funds will available in Hungary for Hungarian economic players in the upcoming months. Within the framework of GINOP Plus, HUF 450 billion will be allocated for business development, mostly in the form of interest-free loans and, to a lesser extent, non-repayable grants. The funds will support the technological and organizational renewal of businesses, as well as their investments in digitalization and energy efficiency. An additional HUF 460 billion will be available within the GINOP Plus framework to increase labor market activity, with a focus on employment for job seekers and inactive individuals. Training support will also be possible from this fund. It is planned that 95% of the programs will be announced in 2024, with a significant portion being non-repayable. The first GINOP Plus applications may become available as early as the beginning of next week, with 6-8 calls for proposals expected in the coming months. ...
Since October 2020, under the VIP cash grant system, every company has been able to apply for cash grant for training programs implemented either internally or through an external training institution. The main condition is the creation of at least 25 new jobs or the completion of an investment worth €5 million. Grant amount Our expert team has extensive experience in the area of training grants and is ready to assist in securing state support for employee training. If you have any questions regarding VIP cash grant for training projects, please contact our team.
New grant opportunity – instead of tax relief for large companies there will be a cash grant in Hungary According to government plans, from early 2024 a new funding program may be launched under the framework of the Individual Government Decision („EKD” or „VIP”) grants, specifically targeting companies adversely affected by the introduction of the global minimum tax. Under the proposed program, these companies could receive cash grant for their planned investments instead of a development tax incentive. The cash grant would be payable within 10 years following the completion of the investment, provided the company has ...
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