Deduction of expenses for residential photovoltaic systems
As of early 2024, a tax relief measure is in effect for “net billing” photovoltaic systems. Under Law 5073/2023, expenses incurred for the purchase of materials and the installation of systems for the energy upgrading of residences allow for a reduction in an individual’s income tax. This reduction is distributed equally over a period of 5 years, with a maximum eligible expenditure limit of €16,000.
VIRTUAL NET METERING (VIRTUAL OFFSETTING)
The new Ministerial Decision permits “virtual offsetting” (virtual net metering) and “net billing” for residential properties. This means it is possible to install a photovoltaic system at a holiday home—or another property—and use it to offset energy consumption at one’s primary residence; this is a highly significant development for those living in apartment buildings.
