In order to stimulate and promote measures for the rational use of electricity and energy efficiency in Azerbaijan, the Energy Efficiency Fund is created. This is stated in the law “On the rational use of energy resources and energy efficiency”, approved by President Ilham Aliyev.
According to the document, the Foundation will be funded by deductions from the sales of energy resources; loans, grants, voluntary donations from legal entities and individuals; income from international organizations and other donors; revenues from the management of funds and other sources not prohibited by the legislation of Azerbaijan.
Fund funds will be aimed at supporting the implementation of measures for energy efficiency and implementation of state programs, financing relevant scientific and technical activities, the use of “smart” counters and systems, cogeneration and use of highly efficient cogeneration facilities, the use of renewable energy sources.