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.
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According to data from the System Distribution Administrator, the percentage of energy curtailment generated by photovoltaic systems in Cyprus during June and July is very low. In this blog post, you can learn more information about how the utilization of solar energy in Cyprus is on the rise.
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