Deductions for reducing energy consumption and achieving efficiency can be up to 60% of the invested amounts
Promoting the rehabilitation of the building stock in Spain to make it much more energy efficient is one of the main objectives of the Spanish recovery plan, with a post of 6,820 million euros, the second most important amount, within the NextGeneration funds.
In addition to this support, citizens can also get certain tax benefits if they opt for this type of reform, which will also help save more energy in homes.
In this context, the General Council of Economists of Spain (CGE) and the Supreme Council of Colleges of Architects of Spain (CSCAE) presented a Guide to Tax Reduction through European Aid, noting an important tax reduction on income tax.
In concrete terms, you can get a deduction of 20% of the amount of the works in ordinary or rental housing (or if these are let before the end of 2023) if it is possible to reduce the demand for heating and cooling by at least 7%. In these cases, the maximum deduction basis is EUR 5,000 per year.
Another of the target deductions is 40% of works that reduce the consumption of non-renewable primary energy by at least 30%, or improve the energy label to achieve a class A or B. In these cases, the maximum deductible is EUR 7,500 per year.
If you go one step further in terms of efficiency, the maximum deduction that can be obtained is 60% of the amounts paid for the works in homes of buildings for mainly residential use to improve energy consumption by 30% or the energy label of the building is improved to achieve a class A or B.
The maximum deduction base in this case is 5,000 euros per year, while the maximum accrued deduction base cannot exceed 15,000 euros.
In addition to these deductions, citizens can also benefit from the application of the reduced VAT rate for renovation works on buildings, although “the main purpose of the works must be the construction of the building and the costs exceed the 25% of the purchase price.
From the General Council of Economists, they recall that, according to the National Institute of Statistics (INE), more than half of the residential buildings in Spain are from before 1980. That is, before the entry into force of the first regulation of the conditions. More than 81.0% of existing buildings are in the letters E, F or G, in terms of emissions, increasing this percentage to 84.5% of buildings in the case of energy consumption, “giving it the important potential of energy shows rehabilitation”.
Source: La Verdad

I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.