A Budget that extends the safety-net for Businesses, more tax incentives should follow to enable new investments
19 October 2020
Budget 2021 The Malta Chamber of SMEs is pleased to see a number of its...
GRTU has successfully launched the
PVPFS scheme through a press conference and an information session. The scheme
already has around 15 applications and 5 certified installers. Following the
launch GRTU has received numerous queries coming in both from retailers and
households enquiring about the scheme. The latter who all seemed very
enthusiastic about the scheme, have been directed to the GRTU website where
they may find a list of certified retailers.
The scheme, which GRTU has tailored
with Bank of Valletta, ensures that more households can install a PV system.
This is possible because it makes PV systems more affordable and easier to
finance by paying through instalments spread over three years, minimising the
burden of interest which is heavily subsidized by the bank, the rest being
financed by the retailers themselves. This ensures that at no time are the
clients being asked to fork out any substantial amount of money for their PV
system, and in most cases the electricity generated is equal to or exceeds the
monthly payment requested by the bank.
If calculated on an average system
that would cost around €5,000, the application of the PVPFS would mean that the
client shall have no upfront payments or deposits to make and instead start
paying the bank a monthly fee of €75 for 3 years, which works out to the exact
same amount if they did not use the PVPFS scheme. In addition to this the
client will save circa €82.81 from the electricity bill per month.
Apart from making no upfront
payments, during the first three years in most cases the client will already be
making a profit. When deducting the €75 monthly payment to the bank from the
€82.81 electricity saving, not only will the system be paying itself but the
client would be earning an extra €7.81 per month. For the following 3 years the
client is guaranteed the same €0.22c feed in tariff, totalling around €993 per
year. Systems are typically guaranteed for 20 years and some PV systems in
Malta which have been installed around 30 years ago, still work.
already having a GRTU approved certificate:
At the time of release of the
newsletter discussions between GRTU and the Hon. Minister for Energy and
Conservation of Aater, Dr Konrad Mizzi, were still on-going. Due to the
importance of the results of the meeting and the impact these have on the
sector a specific communication will be sent directly to GRTU Members operators
in the sector outlining the results of the meeting.
During the meeting GRTU will discuss
the launch date of the next PV scheme, the feed in tariff, large scale
proposals that may be split between all GRTU approved installers, and a request
for meeting between the sector, the minister and MRA. GRTU will also be
proposing an information campaign on how to make the right decisions when
installing a PV system.
GRTU will enquire about the status of
the solar water heaters grant scheme which was suspended late last year and the
claims raised by several retailers outlining irregularities creating an
un-level playing field .
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).