Blog

29.01.2025
Conditions for support programs for the implementation of energy efficiency enhancement measures in multi-apartment residential buildings
On December 21, 2024, Cabinet Regulation No. 880 came into force, which provides new opportunities for housing renovation with a 40-50% discount on capital (loan principal).
The aim of these regulations is to accelerate renovation projects and simplify the renovation process for homeowners, thus improving energy efficiency and reducing emissions.
Key updates and support conditions:
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Increase in capital discounts to 50%:
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For future project applications, a simplified building energy efficiency certificate based on measured building energy efficiency will be sufficient.
Altum plans to launch the program in March 2025. It will last until 2029 and provide financial support for energy efficiency measures in multi-apartment buildings.
The new Cabinet regulations open up the possibility for owners of multi-apartment houses to receive a capital discount if the project ensures energy consumption savings of at least 30 percent.
The neighborhood approach provides additional benefits: if several houses work together on a renovation project, it is possible to maximize the capital discount while reducing overall costs and accelerating the pace of renovation.NThe regulations offer greater financial support and the option to implement individual energy efficiency measures, such as just replacing windows, or renovating attics or basements.
To receive support from Altum, a decision from homeowners is required. Previously, the law on apartment properties stipulated that a general meeting could make decisions, including on improving the energy efficiency of the building, if owners representing more than half of all apartments participated.
According to amendments to the law that came into force on November 1, 2024, if a homeowner's general meeting does not have a quorum (homeowners do not represent more than half of all properties), it can be reconvened. If a repeated general meeting with the same agenda is convened within a month, it will have a quorum if the registered homeowners represent more than one-third of all multi-apartment house properties. Such decisions can also be made by polling. To make a decision at a repeated meeting and in polling, more than half of the homeowners represented in the repeated meeting or polling must vote “in favor”.
Sources:
17.02.2025., Latvijas Vēstnesis
20.12.2024, Valsts kanceleja
21.12.2024, LV portāls