Energy crisis: Monaco to finance resident support package

Monaco’s government is enacting two new financial assistance schemes to help people lower their energy costs, offering help to pay for more energy-efficient appliances in people’s homes as well as subsidising the replacement of outdated collective systems. 

The Monaco government is going beyond asking people to turn off lights and turn down thermostats to lower energy bills over the winter, and has instead put in place concrete funds to help people live more energy-conscious lifestyles.   

Minister of State Pierre Dartout presented the Prince’s Government’s Energy Management Plan on 16th November, laying out a number of sensible ways to lower bills, including switching to LED lights, replacing old radiators with NF-certified equipment, and making sure joinery and insulation were up to snuff.   

But as well as offering advice, the government also announced they will be reactivating an old plan led by the Mission for Energy Transition (MTE) that helps residents purchase high-efficiency small appliances with a generous cap of up to €3000. 

Additionally, the government said they will assist with the installation of collective heat pumps to replace old boiler room heating and cooling systems. The deal gives homeowners a subsidy of up to 30% of the price of the new equipment, which in turn will cost less to operate, be more energy-efficient and emit less greenhouse gases.  

“It’s common sense,” said Dartout. “We are all concerned.”  

To find out more about the small appliances scheme, please click here.

For more information on the collective heating plan assistance, please click here. 



Photo source: Stefano Manzini for Unsplash