With 90 million euros to be invested over the next three years, the country is launching a 'photovoltaic for all' program.

The Ministry of Energy, Commerce and Industry of Cyprus recently announced that it will launch a "universal photovoltaic" program starting this year, with an investment of 90 million euros over the next three years to increase the use of photovoltaic panels and enhance photovoltaic power generation capacity, thereby reducing household electricity bills. This year, the Cyprus government is expected to install rooftop photovoltaic systems for about 6,000 families to provide subsidies, these families can choose to install photovoltaic systems to be shared in the cost of electricity thereafter. Local media believe that the program is expected to significantly reduce residential electricity bills and accelerate the country's green transition.

As a country with a scarcity of traditional energy sources and high energy prices, Cyprus has paid more attention to the development of renewable energy in recent years, and plans to increase the proportion of renewable energy to 22.9% by 2030. With more than 300 days of sunshine on average throughout the year, Cyprus is in a unique position to develop photovoltaic power generation. 2022, the Cypriot government has begun to increase the subsidies for home photovoltaic power generation and house insulation retrofit, and the subsidies for installing solar panels in homes have almost doubled. According to the Cyprus Ministry of Energy, Commerce and Industry, nearly half of the country's households will have solar panels by 2030.

Cyprus's official data show that Cyprus's national installed capacity of photovoltaic has exceeded 350 MW, the government also plans to build a photovoltaic park with an installed capacity of 72 MW near the capital Nicosia, with an investment of more than 70 million euros. In order to solve the problem of insufficient photovoltaic energy storage equipment, the Cyprus government has been from the "European Union Just Transition Fund" to obtain a grant of 40 million euros for the construction of centralized energy storage facilities, plans to hand over to the operator after the completion of unified management.

In addition to photovoltaic power generation, Cyprus is also developing other types of renewable energy. The country's largest wind farm is located in the southwestern Paphos Mountains, equipped with 41 wind turbines, with an installed capacity of 82 megawatts, equivalent to 5% of the country's total generating capacity. Cyprus has also developed the country's first green hydrogen project in conjunction with a German company, and in 2022 received €4.5 million in financial support from the EU's Innovation Fund, which is expected to produce 150 tons of green hydrogen per year upon completion.2023 In 2023, Cyprus and the eight EU member states in the Mediterranean region signed a common declaration aimed at promoting the Mediterranean region as a European green energy hub, and called on the European Commission to consider the establishment of a green energy center in the establishment of green energy interconnection corridors between countries with rich renewable energy resources in Europe and North Africa.

It is understood that the Cypriot Government is trying to establish an electricity interconnection network connecting Greece and Egypt, which is expected to be initially completed in 2027, when Cyprus can export renewable electricity to European and African countries, contributing to the energy transition of regional countries.

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