The Greek policy targeting residential energy efficiency has launched the “Residential Energy Saving” financial incentives program to assist in achieving the goals related to reducing energy use and GHG emissions. Considering the research gaps of previous work, the present study examines the sociodemographic, dwelling, and geographical characteristics, and the environmental awareness and behavior that affect individuals’ (a) actual decision to perform an energy-saving renovation of their dwelling; this has been previously examined, but not in the Greek context, (b) awareness of the incentives program; this has not been addressed in previous research, and (c) utilization of the program; this has not been addressed in previous research. Accordingly, we performed a questionnaire-based survey in Greece in 2019 (n = 451). Based on the development of three binary logistic regression models, it is indicated that the decision to perform an energy-saving renovation is affected by ownership status, year of construction, income, and environmental behavior; awareness is affected by education level, environmental awareness, and residence location; use of the incentives program is affected by residence ownership and year of construction, presence of senior citizens and education level. The study’s results, indicating the determinants of energy-saving renovation decisions and awareness and utilization of financial incentives programs, can assist policymakers in planning financial incentives adapted to different characteristics, thus achieving improved awareness and utilization of such tools.