If the government pays half the money to replace the old fridge and AC and buy a new one … this beautiful dream is going to come true in the European country of Greece. The subsidy was announced to buy modern appliances that use less electricity, as part of efforts to tackle the country’s worst power crisis.
Subsidy for fridge, AC and freezer. 30% to 50% of the price of the new device will be subsidized. The government has announced that it will subsidize the purchase of up to 3 appliances per household. Thus, the government estimates that replacing old and more powerful appliances can reduce households’ electricity costs by up to 40%.
The economic benefits to the country are enormous. Power Minister Costas Skrekus said a city of one million people needs enough electricity a year to save every household by purchasing new equipment. The annual profit on fuel imports is കോടി 40 million. The subsidy will cost കോടി 150 million.
English Summary: Greece to subsidise new fridges, air conditioners to cut energy bill