Thanks to the Energodom program, residents of houses will save up to 50% of heating costs

Participation of condominium associations in the Energodom program allows residents of apartment buildings to achieve significant energy savings, therefore saving money and increasing the level of comfort in their own apartments. In particular, this winter, program participants can save up to 50% of heating costs.

This was announced by Egor Farenyuk, director of the Energy Efficiency Fund.

He gave examples of successful implementation of the Program on the eve of the new heating season. In particular, the condominium association Lazurnaya 50 A (Mykolaiv) completed work under the Energodom Program with a total cost of UAH 12.9 million, of which more than UAH 9 million was a grant from the Energy Efficiency Fund. The reduction in energy consumption is more than 31%. And the annual cost savings for the heating needs of one apartment is 6 thousand UAH.

OSMD “Pyatnitskaya 72/74” in Rivne (a small house with 6 apartments) managed to achieve energy savings of 46.3%. Residents implemented the project with a total cost of UAH 2.1 million (Fund grant – UAH 1.1 million). Each apartment will save 10.5 thousand UAH on heating throughout the year.

“Energy independence should definitely be a strategic goal for the development of modern Ukraine,” commented Yegor Farenyuk. “Now for our state, energy independence is a matter of national security. Creating conditions for the ability of each home to minimize resource consumption and meet its own energy needs independently is an opportunity to make the entire country.”

The expert recalled that from the very beginning of the full-scale war, the Energy Efficiency Fund was faced with a number of challenges, in particular, the authorized capital was not replenished, banks froze lending to condominiums, and accordingly, the acceptance of applications for participation in the Energodom program was suspended for both packages, within which they compensated from 50 % up to 70% of the cost of projects.

“We have found ways and mechanisms thanks to which we have already resumed work on a simplified version of package “A”, which provides grants for the installation of individual heating points, thermal insulation of pipelines, replacement of windows and doors in common areas. These are one of the most appropriate and effective measures to reduce heat energy consumption in homes,” he emphasized.

Egor Farenyuk noted that now the mechanism of the Program has been simplified as much as possible. At the first stage, the condominium, together with the application for participation, must submit to the Fund an extract from the minutes of the general meeting, an energy certificate of the building and photographic materials.

At the second stage, together with the application for completion of work – copies of acceptance certificates for completed construction work, an energy certificate of the building (produced after the implementation of the measures), a report on the results of checking the implementation of the project with photographic recording and an equipment passport.

“The Fund compensates condominiums that have joined the Energodom Program for 40% of the cost of projects (but not more than UAH 2 million), so additional assistance, in particular bank loans, as well as city programs that finance part of the costs, is extremely important,” Egor concluded Farenyuk.

Sergey Mamedov, Chairman of the Board of GLOBUS BANK, noted that the effectiveness of the Energodom lending program will largely depend on the implementation of partnership programs for the reimbursement of interest or part of the loan between the Energy Efficiency Fund, the bank and local authorities. The banker said that a corresponding agreement had already been concluded with the Lviv Regional State Administration.

“Similar compensatory partnership agreements are planned to be concluded with the local administrations of Nikolaev, Vinnitsa, Ivano-Frankivsk, Odessa, Rivne and other cities. By the end of the year we plan to conclude more than 8 such agreements,” the expert emphasized.

He recalled that participants in the Energodom program can receive an unsecured loan without a down payment at 16% for a period of 5 years, and thanks to compensation programs, borrowers will reduce their expenses. According to him, next year at least 300 energy loans may be issued for a total amount of more than UAH 500 million, ⅔ of which will be in those regions where partnership reimbursement programs will operate.

“Household associations can receive compensation for up to 70% of expenses only after energy modernization. It is unlikely that any association of co-owners of a house has 2-3 million UAH of available funds on its balance sheet to carry out energy modernization on its own, and only then count on compensation for ⅔ of expenses. A bank loan allows you to start work the very next day after receiving the funds. And compensatory programs from local authorities are aimed precisely at significantly reducing the interest burden on the borrower,” the banker noted.

The main advantage of an energy loan, as the specialist pointed out, is that the bank provides “real” money for carrying out the necessary work literally from the next day after the loan is issued. That is why, according to the banker, in 2024, lending to condominiums under the Energodom program may become one of the key areas of bank lending.

Egor Farenyuk and Sergey Mamedov pointed out a number of advantages for condominiums that decide to become participants in the Energodom program:

  1. participation in the Energodom program provides the opportunity to carry out simple work: from insulating facades to installing heat meters, so literally all condominiums who need energy modernization can apply for participation in the program;
  2. the procedure for applying for participation in the Energodom program has become much simpler: at the first stage of condominiums you need to submit an application, an extract from the minutes of the general meeting, an energy certificate for the house with relevant photographs that will show the condition of the heating equipment;
  3. participants in the Energodom program will receive compensation in the amount of up to 70% of the cost of energy modernization of the house, and savings on heating costs in the autumn-winter period can reach 50%;
  4. participation in the Energodom program allows you to improve the technical and external condition of the house, improve living conditions, etc.;
  5. processing a loan, as well as receiving funds to the condominium owner’s account, can occur literally on the day the Energy Efficiency Fund approves the condominium owner’s application for participation in the program;
  6. In the future, thanks to compensation programs from local authorities, condominiums can count on partial compensation for interest or part of the loan received;
  7. Along with the loan, the condominium owner will receive additional banking services (the possibility of preferential services for other bank projects, consulting services, etc.).

You can submit an application in two ways: a) by contacting your partner bank directly, which will allow you to simultaneously submit an application for a loan (you can read the details here); b) online on the website of the Energy Efficiency Fund (more detailed information at the link);

“We have high hopes for the development of lending under the Energodom program, because citizens need warmth in their homes at lower costs. Ukrainians should feel that, despite the brutal war, the state is creating the proper conditions for a normal civilized life for everyone. This is also a significant contribution to our future Victory,” summed up Sergei Mamedov.

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