The power support many have forgotten - Can be expensive

Many people remember the electricity prices that skyrocketed in 2022, and how companies had to react quickly when the government opened up a temporary energy subsidy. This became known as the electricity subsidy scheme, where companies with high electricity costs could apply for financial support. The scheme was divided into two stages: Stage 1, which offered a lower subsidy, and Stage 2, which offered approximately 45% higher subsidies but required a commitment to implement energy measures.

What have many people forgotten?

Companies that received support under stage 2 committed to implementing energy measures and were given 24 months to document that at least 50% of the measures have been implemented. The deadline is fast approaching - for most, it will expire in December 2024. If the requirements are not met, companies risk having to repay the difference between the consumption-dependent subsidy in support stages 2 and 1 plus interest costs.

At SustEvo, we have seen that several of our customers have not been aware of these obligations. If you miss the deadline, it can be expensive. To illustrate:

Example: Eksempelbygg AS has received a consumption-dependent grant of NOK 500,000 in support after stage 2, and has applied for support for an energy monitoring system with a total cost of NOK 150,000. To avoid repaying NOK 222,000 plus interest, they must be able to document that they have invested at least NOK 75,000 (50%) in this measure before the deadline.

Time is running out

For Eksempelbygg AS, an investment of NOK 75,000 in energy measures will ensure that they avoid repayment, while they can receive up to NOK 63,000 in support for measures. But time is running out, and for many companies the stakes are high.

What can we do for you?

It is critical that the measures are implemented within the deadline to ensure that the support is maintained. At SustEvo, we help businesses plan and implement energy measures so they don't have to repay large sums of money. We offer our expertise to help you:

-Increase the pace of projects to ensure completion before the deadline.

-Provide advice on the requirements that need to be met in order to keep the investment support.

-Assist with final reporting and documentation of the implemented measures.

Don't let your company risk having to repay the grant. Get in touch with us for a chat about how we can help ensure a successful implementation. Send us a message or contact us directly and we'll make sure you're on the right track!

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