Italy pays homeowners 110% of costs to eco-proof their homes
Feb 24, 2022
The Italian government is offering to pay back each homeowner 110 per cent of building costs to convert their existing home into an eco-friendly residence.
Dubbed the ‘Superbonus’, the scheme was introduced in November 2020 to help Italians - and non-Italian homeowners -improve the energy efficiency of their homes and lower their seismic risk (the risk of damage due to earthquakes).
The initiative has a maximum cap of €100,000 per home and is offset against taxes for the next five years. Take-up for the scheme has been huge, with the overall project due to cost the government €9 billion in 2021 alone.
Why did the Italian government introduce this ‘superbonus’?
Italy’s government introduced the scheme, as it didn’t believe residents would adapt their homes without it. Ministers thought that if a part-payment initiative was introduced, take-up would be low and change would never happen on the scale required.
Especially as much of Italy’s housing stock was built before the 20th century and needs a lot of work in order to bring it up to modern, eco-friendly standards.
The government is also using the ‘superbonus’ as a stimulus initiative to help Italy’s post-COVID economy. The package is driving unprecedented demand for builders and materials and is starting to push up construction prices in the country.
The bonus can be used to add energy efficient heating systems, insulation and air conditioning into a home - and can be put towards work that limits the effects of earthquakes and seismic activity.
It can also be put towards new doors, windows and a charging point for an electric car.
Homeowners must pay for the work upfront and will then be reimbursed through their taxes over the following year.
Latest
Apr 26, 2025
Ilham Aliyev received EU High Representative and Vice-President of European Commission Kaja Kallas
News
On April 25, President of the Republic of Azerbaijan Ilham Aliyev received Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission.
Apr 18, 2025
The Eastern Partnership Business Forum was held in Warsaw
News
The Eastern Partnership Business Forum was held on April 15–16, 2025, at PGE Narodowy Stadium in Warsaw, bringing together high-level representatives from European Union member states and Eastern Partnership countries to explore current trends in economic cooperation, shared regional priorities, and prospects for future collaboration.
Apr 05, 2025
Baku hosted 11th Southern Gas Corridor Advisory Council Ministerial Meeting and 3rd Green Energy Advisory Council Ministerial Meeting
News
On April 4, the 11th Southern Gas Corridor Advisory Council Ministerial Meeting and the 3rd Green Energy Advisory Council Ministerial Meeting were held at the Gulustan Palace in Baku.
Mar 29, 2025
Azerbaijan Secures $173.5 Million World Bank Loan for Green Energy Expansion
News
The World Bank has approved a $173.5 million loan to support Azerbaijan’s Scaling-Up Renewable Energy (AZURE) project, aimed at strengthening the country’s electricity infrastructure and increasing renewable energy integration.
Mar 14, 2025
World Bank outlines conditions for Azerbaijan's transition to high-income country status
News
The World Bank (WB) predicts that Azerbaijan will need approximately 22 years to transition to the group of high-income countries, assuming the country maintains an average annual growth rate of 4.9% in gross national income (GNI) per capita.
Mar 12, 2025
EU remains Azerbaijan's main trade partner - Ambassador
News
The European Union (EU) is the strongest market for Azerbaijan, said the Head of the EU Delegation to Azerbaijan, Ambassador Peter Michalko, APA-Economics reports
Mar 12, 2025
Italian Ambassador: Diplomatic relations between Italy and Azerbaijan are very strong
News
Diplomatic relations between Italy and Azerbaijan are very strong, said Italy's Ambassador to Azerbaijan, Luca Di Canfrancesco, while answering journalists' questions at ADA University, APA reports.
Mar 11, 2025
Azerbaijan, Spain ink MoU on Strategic Economic Cooperation
News
Azerbaijan’s Minister of Economy Mikayil Jabbarov met with María Amparo López Senovilla, Spain’s Secretary of State for Trade, to discuss prospects for strengthening economic cooperation between the two countries.
Mar 10, 2025
Azerbaijan and partners urge EU to grant PMI status for major green energy project
News
Azerbaijan, Georgia, Hungary, and Romania have sent a letter to the European Union Energy Commissioner, Kadri Simson, requesting Project of Mutual Interest (PMI) status for the "Black Sea Energy" project, a major underwater electricity cable initiative.
Mar 06, 2025
Middle Corridor gains momentum with new agreements to enhance regional connectivity
News
The Trans-Caspian International Transport Route (TITR) International Association held its General Assembly meeting today in Azerbaijan's Baku,
Mar 05, 2025
S&P reveals forecast for Azerbaijan’s foreign debt
News
“S&P Global Ratings” international rating agency has revealed its forecast regarding Azerbaijan’s foreign debt.
Feb 13, 2025
Spain hosts conference on EU-Azerbaijan relations
News
Spain has recently hosted a conference on European Union-Azerbaijan relations, jointly organized by the Center for the Analysis of International Relations (AIR Center) and King Juan Carlos University (Universidad Rey Juan Carlos) with the support of the Azerbaijani Embassy in Spain,
