Solar Panels Are the Future of Energy Production in Cyprus

With the help of solar panels, you can generate your own electricity. A photovoltaic system converts sunlight into clean and sustainable power.

Installing a photovoltaic system on your home in Cyprus offers huge monetary benefits. Not only will you enjoy lower electricity bills but also benefit from attractive government incentives. This article reviews the pros and cons of installing solar panels in your home. It also offers an explanation on how the net metering scheme works.

Make the switch to renewable energy

The sunny climate of Cyprus makes it the perfect place for renewable energy sources. One such resource is sunlight, which is abundant.

Solar panels are perfect for a home or business that needs to cut down on cost, noise pollution and dirty fossil fuels. They allow you to use your property’s natural resources, such as sunlight hitting the roof. The solar panels gather energy from sunlight and turn it into electricity.

The photovoltaic system is a great way to use solar energy. It can help with electricity demands and produce clean, sustainable power for your home. The demand for renewable energy is increasing in the European Union. Countries must step up efforts to meet growing demands and environmental initiatives.

Cyprus experiences more than 300 days of sunshine annually. The government is looking to produce and use clean energy by investing in renewable sources. A plan to fully switch to renewable energy was set for 2020. However, the Covid-19 pandemic disrupted many industries and caused a major disruption in the energy sector.

Cyprus was one of the first countries in Europe to introduce a renewable energy policy. Since then, they have made great progress towards achieving this goal. 13% of produced energy is coming from solar panels and other renewable energy sources.

The government is encouraging residents to participate in the National Action Plan. Residents who install solar panels on their homes are rewarded with financial incentives.

When it comes to generating clean electricity and saving money, solar power is the best option. Cyprus has the potential to become one of Europe’s largest producers of solar energy.

The push for residential photovoltaic systems and why it’s so important

To make the most of your solar panels, they should be grid-connected. The individual photovoltaic systems (PV) are only producing energy for the own household. 

If they are grid-connected the excess of energy generated by the solar panels goes to an electric company. The excess helps supply power for those who need it.

Net Metering: The future of clean energy

Households can earn credits for the electricity they produce. These are then used to counter expenses on their bills. The output of a 3kW solar panel is estimated to produce 5 kWh per year. 

It is called a net metering scheme. To be eligible, you must have acquired the legal title of your home. You’ll receive a customer service panel and a special meter. The meter monitors all the imported/exported energy. 

The household is left footing the bill if they consume more energy than what’s produced. Any excess production will be rolled over to the next billing cycle.

The government is providing a service that permits home solar panel installations. The ‘Solar Energy for All’ scheme is a great way to make electricity more affordable, reliable, and sustainable. It was introduced in 2016.

Cyprus subsidies scheme

The ‘Grant Scheme’ is a new program that offers financial incentives for residents who invest in solar power. It was first introduced two years ago in 2020. 
Homeowners can get a solar system installed on their home for free thanks to this program. The Cyprus government covers investment costs. Unfortunately, individual standalone systems were not covered. In 2020, more than 1,000 households were given €1,000. That amount covered the cost of installing solar panels on their homes. They were able to provide more than 500 disadvantaged households with a higher amount of solar panels.

The benefits of investing in a home solar panel system in Cyprus

Installing solar panels on your home will provide you with short-term and long-term benefits.

It is also a great way to help the environment. Solar panels are an easy and affordable option that will save you money on your electric bill. Most importantly, they contribute significantly towards sustainable energy consumption.

The benefits of investing in solar panels

Invest in solar panels for the following reasons, and you won’t regret it.

1. You lower your electricity bill

The cost of installing a typical solar panel system is around 5,000 Euros. You also pay an additional 250 euros for an EAC meter. EAC meters measure energy consumed in kilowatt-hours. From that point on, you will save thousands of euros. 

It’s important to find the right balance between cost, size, and capability. Homeowners have a range of options available.

2. Energy can be stored

When energy production is met, it’s stored in the net metering system. Just like a battery, your household will be able to use its stored energy from last year. 

3. Solar panels can last up to 30 years

Solar panels can last up to 30 years after proper installment. You will see your power bill drop by 40% after just 4-6 months of installation. The savings then continue year after year.

You’ll receive the full financial advantage of your funds for another three decades. That is, regardless of if electricity prices continue to rise or not. Your expenses are going down and the value of your home goes up (if you decide to sell it in the future).

4. Solar panels are environmentally friendly

Cyprus has a lot of sunshine throughout the year, so it is perfect for solar panels. It’s important to make efforts in harnessing renewable energy sources. Investing in your home is an investment that will pay off for future generations.

Conclusion: Solar panels are an environmentally friendly investment that pays off

The natural assets of Cyprus offer homeowners an opportunity to take full advantage. Solar panels are one way that people can capitalize on this country’s rich energy sources. When you invest in solar panels, your electricity bills are reduced for over 20 years. At the same time, the value of your property increases.