Net-Metering is an agreement where people who generate electricity through photovoltaic panels in Cyprus, get a deduction on their electricity bill. If the generation of electricity exceeds the consumption, the excess will be calculated for a reduction on the following electricity bill. However, if the consumption is more than the generation of electricity, the difference will be billed.
Net-Metering photovoltaic in Cyprus can be installed in any residential or commercial property under some conditions. The maximum power of a Net-Metering photovoltaic system with a 1-phase power supply is 4.16 kW while the maximum power of a Net-Metering photovoltaic system with a 3-phase power supply is 10.4 kW. They can be installed on the roof of a licensed house or building or the ground in the plot of a licensed house or building.
If a resident of an apartment building wants to install photovoltaic panels in Cyprus, all the residents must agree with it.
With Virtual Net-Metering in Cyprus, the photovoltaic panels are installed offsite the property for which the arrangement is made. Thus, the calculations are done regarding the electricity consumption of a property with the difference that the solar panels are at a different location. In the case of Virtual Net-Metering in Cyprus, the photovoltaic system is again connected to the consumer’s EAC account and the calculations are done respectively.
Virtual Net-Metering is ideal for farmers, consumers whose properties are not suitable for photovoltaic panels or people who simply prefer having their solar panels installed away from their house.
| PV System Power | Indicative Cost (€) | Estimated Annual Energy Production (kWh) | Annual Savings (€) (0.26€/kWh) | Annual Fee to EAC (€) | Net Annual Profit (€) | Amortization of the PV System |
|---|---|---|---|---|---|---|
| 3kW | 4,950 | 5,000 | 1,500 | 160 | 1,340 | 3 years |
| 4kW | 5,950 | 6,500 | 1,950 | 216 | 1,734 | 3 years |
| 5kW | 6,980 | 8,500 | 2,550 | 270 | 2,280 | 3 years |
| 7kW | 12,500 | 11,000 | 3,300 | 378 | 2,922 | 3 years |
| 10kW | 14,000 | 16,000 | 4,800 | 540 | 4,260 | 3 years |
The government of Cyprus and the RES and Energy Conservation Fund offer support schemes for the installation of photovoltaic systems in Cyprus. These schemes concern different types of photovoltaic installations and serve as a financial aid to individuals who want to install a photovoltaic system.
You can read more about the support schemes for photovoltaic systems here.
Eligible applicants must present the following documents for their application to be assessed.
The increased demand for the use of renewable energy Sources (RES) and the government’s effort for a rapid transition to the green economy has created the need for an easier way to apply for a RES project. In this blog you can learn more about the operation of the online platform One Stop Shop for renewable energy sources projects.
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.
Along with the many benefits solar energy offers to people, it also offers numerous benefits for the environment. In this blog post, we will explore five ways solar energy benefits the environment, leading the way for a more sustainable future.
