Net-Billing in Cyprus
Net-Billing is a photovoltaic system scheme where the consumer uses the energy produced and gets credit from the EAC for the energy that moves to the grid, at the respective avoidance cost. The power of a Net-Billing photovoltaic system must range between 10 kW to 8 MW.
This scheme is beneficial because the consumer is credited for the energy supplied to the network at the price of electricity being purchased from Renewable Energy Sources as designated by the Cyprus Energy Regulatory Authority.
If the energy consumption is less than the energy sent to the grid, the excess energy will be calculated and the amount will be credited to the next billing period.
Net-Billing in Cyprus is extremely beneficial, especially for large energy consumers. Net-Billing is a way to decrease or annul one’s electricity bill and at the same time get credited with additional amounts. Consumers are benefited from accelerated depreciation of their investment and the initial cost since the solar panel system can be adjusted to their usual consumption and energy needs. Therefore, the photovoltaic system in Cyprus works to the consumers’ benefit.
Cyprus is an island known for its hot summers making it the perfect place to find the best sustainable ways to beat the relentless heat. Solar-powered cooling solutions are the solution to rising temperatures and the pressing need for energy efficiency technologies, the photovoltaics systems are emerging and transforming how we stay cool on this Mediterranean island. In this blog post, you can learn more information about beating the heat in Cyprus with photovoltaics.
Extension of the ‘Grant Scheme for the Encouragement of the Use of RES and Energy Savings in Dwellings 2022-2023’
During its latest session on Wednesday, December 20, 2023, the Council of Ministers approved an increase in the grant amount for the installation of a photovoltaic system in the residences of vulnerable electricity consumers. This pertains to CATEGORY 3B of the ‘Grant Scheme for the Encouragement of the Use of RES and Energy Savings in Dwellings 2022-2023’.
Under the warm sun of Cyprus, new technologies can emerge with the combination of photovoltaics and energy storage. These advancements shape a more sustainable future and produce reliable energy. In this blog post, you can learn more information about the synergy of batteries and photovoltaics in Cyprus.