Applications for investment grants for PV systems and electricity storage systems under the Renewable Energy Expansion Act (EAG) can be submitted in Austria via OeMAG. The funding agency has now reported a run on a recently opened funding call.
As is well known, Austria is to cover 100 percent of its electricity supply from renewable energy sources by 2030. This ambitious goal is regulated in the so-called Renewable Energy Expansion Act (EAG). The Act also forms the basis for the award of subsidies at the federal level. Among other things, it provides for investment grants for PV systems and electricity storage. For example, applicants who build a new photovoltaic (PV) system of up to one megawatt or an electricity storage system can apply for a one-off cost subsidy, which is handled by OeMAG.
OeMAG: “Tripling compared to previous years”
After the settlement of the first funding call, which opened on April 21, the next round followed yesterday, Tuesday. At 5 p.m. sharp, OeMAG opened the application process via its IT system, which led to a large flood of applications, according to the funding agency. In the first five minutes, more than 16,441 tickets had already been drawn, and after 60 minutes, more than 31,000 tickets had been drawn. This corresponds to a more than threefold increase in the number of tickets drawn compared to the application deadlines of previous years.
Applicants now have seven days from Wednesday (June 22, 2022, 11 a.m.) to complete their application. A total of €240 million is available in 2022 for investment support under the Renewable Energy Act for the expansion of photovoltaic systems and electricity storage – making the budget higher than ever before, according to OeMAG.
Further funding calls planned
The OeMAG subsidy also provides for higher subsidy rates than before. For example, applicants:inside will receive 285 euros per kWp output for their new PV system or extension in “Category A” after approval. In order to be able to submit an application in the different categories, registration and drawing of an online ticket is required, which will be awarded in certain categories on a first-come-first-served basis. Further funding calls are planned for August and October.