An Important Need for Households and Businesses in Cyprus to Install Photovoltaic Systems

26/11/2022
households and businesses in cyprus to install photovoltaic systems

As electricity prices rise, the need for photovoltaic installation in many properties in Cyprus becomes urgent. The goals made at the beginning of 2020 have been met and exceeded with a 17% of the final electricity consumption being produced by renewable energy sources knowing that the goal at the beginning was only 13%.

Data also shows that 27 thousand net-metering photovoltaic systems have been installed at households around Cyprus with installed power that surpasses 20%. The government plans to continue with grant schemes that will sponsor not only photovoltaic systems but also all types of renewable sources in Cyprus.  

Saving and Upgrading Business and Non-Governmental Organizations Scheme

With the total grant amount reaching 40 million euros, the scheme will promote investment and energy saving at the premises of medium-sized businesses and NGOs. This scheme aims to reduce electricity consumption by 30% of all the businesses involved in the scheme.

The investment types for this category are as follows.

40% grant on the eligible costs with upgrading and not the addition of photovoltaic systems and a maximum grant amount of 100 thousand euros.

40% grant on the eligible costs with upgrading and not the addition of photovoltaic systems and a maximum grant amount of 150 thousand euros.

Upgrading existing buildings with nearly zero energy consumption to SME beneficiaries with a 40% grant and to NGO beneficiaries with a 60% grant. The maximum grant amount is 300 thousand euros.

Upgrading of buildings of NGO beneficiaries with a 60% grant on the eligible costs with a maximum grant amount of 150 thousand euros.

Photovoltaic System Installation and Roof Thermal Insulation Grant Scheme

The scheme’s budget reaches 30 million euros for photovoltaic systems at households for the years 2022 and 2023 or until the exhaustion of the scheme’s budget. The budget has doubled compared to previous years and will also apply to properties that will install virtual net-metering photovoltaic systems if their installation on the roofs of the specific properties cannot be achieved due to technical issues.

The investment types for this category are as follows.

Α. Roof thermal insulation with a 45% grant for each house with a maximum grant of 2250 euros. The grant for mountainous areas houses increases by 50%.

Β. Roof thermal insulation for houses with net-metering or visual net-metering photovoltaic installation. The grant reaches 55% with an amount that does not exceed 2750 euros and another category with a grant of 450 euros for every solar panel with a maximum grant amount of 1800 euros. The maximum grant amount for every application can reach up to 4555 euros. The grant for mountainous areas houses increases by 50%.

C. Net-metering or virtual net-metering photovoltaic installation. This category is granted 375 euros for each photovoltaic panel installation with a maximum grant amount reaching 2500 euros. The grant for mountainous areas houses increases by 50%. At the same time, the grant for vulnerable electricity consumers is increased by 1000 euros for every solar panel installation with a maximum grant amount of 5000 euros.

This scheme continues from previous years; thus the choice will be made from applications and investments made after August 2021.

Installation of a Photovoltaic System for Electric Vehicle Conductive Charging System Grant Scheme

This scheme allows for the application for the installation of a photovoltaic system for an electric vehicle conductive charging system. The budget for this scheme reaches 1 million 500 thousand euros. This scheme applies to Cyprus residents that own an electric or hybrid car with a plug-in charger. The grant amount is 750 euros per kW of an existing photovoltaic system with a maximum grant amount of 1500 euros.

The expenses incurred that are granted are the following

  • Purchase and installation of the charger at the amount of 600 euros
  • Conversion of the electrical installation of a house from a single-phase to a three-phase at the amount of 450 euros
  • Purchase and installation of a battery with 750 euros per kWh and maximum amount of grant at 2000 euros. 

Energy Efficiency Upgrade of Local Authorities Buildings and Public Buildings

This scheme aims to provide financial incentives to promote investments and encourage energy upgrades by Local Authorities and Legal Entities. This plan provides for 100% of eligible costs and the beneficiaries are people in local authorities and legal entities. Beneficiaries who are engaged in economic activity or invest in infrastructure used in the context of economic activity. The maximum grant amount is 700 thousand euros, and the minimum proposal amount is 10 thousand euros. The scheme’s general budget is 9 million euros, there is EU funding, and each beneficiary can submit only one proposal which can involve more than one building and infrastructure. The implementation of a combination of individual investments for every building or infrastructure is intended and for every building, transformation into a nearly-zero energy building must be achieved. Primary energy savings of at least 30% should be achieved for any other infrastructure.

Energy Upgrade of Houses Scheme

This scheme will be announced at the end of 2022. It does not concern only photovoltaic systems but energy upgrades of buildings and infrastructures in general. Financial incentives are provided for extensive energy upgrading of existing energy-efficient houses. If you are looking to install photovoltaics on your own property, then make sure to check out Photovoltaic in Cyprus and get in contact for more information.