Guide to solar panels in Cyprus
The technological development within photovoltaic systems goes fast. The solar panels are becoming ever more effective and the cost is decreasing. Installing solar panels in Cyprus is becoming an increasingly profitable option for private households.Save € with solar panels in CyprusRead about the Net Metering scheme
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This makes Cyprus an excellent place to utilise solar energy to produce electricity just as it is already used to heat water at most households.
While the daily hours of sunshine are not always plenty – particularly during winter – there are more than 300 days with sunshine in Cyprus. And modern photovoltaic cells for solar panels are still very efficient even if it is cloudy.
Top 5 reasons for installing solar panels in Cyprus
Here’s our top five reasons for installing solar panels on your property in Cyprus:
- Savings on your electricity bill
- The Net Metering scheme allows you to “save” energy on the grid for later consumption
- Solar panels are effective for up to 25 years – It is an investment in the value of your property
- The many sunshine hours & days
- It’s a renewable energy source, limits greenhouse gas emissions and is great for the environment
How much will you save
The exact amount of €s that you can save each year with a solar system and spend on more interesting pastimes than paying your electricity bill differ from household to household.
If you have a 3 kW setup (max supported output by the Net Metering scheme) you can produce in excess of 5 kWh a year. This will save you around €1250 each year of the lifetime of the photovoltaic frames. This is around 20-25 years.
On top of this you can add the decrease in emissions of carbon dioxide and other greenhouse gasses that you will be responsible for. Planet earth will say ‘thank you’ and you will be able to say: “you’re welcome world”. It should add a little bit on top and if that is not enough, it will also increase the value of your property as it will now include a significantly decreased electricity bill.
in savings PR YEAR (€)
years only until your system starts making you a PROFIT (estimate)
How big a solar system will I need
The size of the solar system is entirely up to you, but assuming that you want to get the full benefit of the Net Metering scheme, you should be looking at an installation with a capacity of 3 kW.
If you install the photovoltaic cells on a sloping roof facing south 20m2 (~215 square foot) will do. If you install it on a flat roof you will need 30 m2 (~323 square foot) of photovoltaic cells.
This is of course also depending on the quality of the photovoltaic frames. The higher quality, the better performance and the smaller your installation will need to be.
How much will it cost?
As with anything else in this world, it depends on the quality you are looking for. As an overall figure you should expect the full installation to cost you about €5,000 plus €250 to EAC for the new meter.
This means that your investment will be recovered after only 4 years!!! This is a really short time for any investment to pay for itself. After the initial four years, you can really enjoy the extra savings from your investment in a solar system here in Cyprus.
This time frame is based on current electricity prices, but let’s face it. Electricity prices only ever goes one way: Up! – With Net Metering you have an option to keep your electricity bill low for years to come.
What solar panels should you choose
With a technology that is evolving as quickly as photovoltaic cells, which are used for solar panels, this is very difficult to say. The next technological improvement is always just around the corner but your installation technician should be able to inform you of the best options.
You can also check this site for reviews of the best solar panels (new window).
Learn more about how photovoltaic cells work here (new window).
The Net Metering scheme in Cyprus
The net metering scheme in Cyprus offers anyone who owns a permanent residence in Cyprus the opportunity to install a photovoltaic solar system. The capacity of the solar system can be maximum 3 kW, which will ensure you significant savings on your electricity bill.
There is also no need to store the electricity locally, which is the really smart part about the Net Metering scheme. Your photovoltaic system is connected directly to EACs grid and EAC installs a new special meter for your property. This meter measures the production from your solar panels and the consumption on your property.
If the production from your solar system is larger than your consumption, your net production is stored in the grid as credit for later use. Later, when your consumption is larger than your production (eg. at night time), you will use power from the grid. You will only need to pay for this power, if you don’t have outstanding kWh credits stored from the previous two months.
Who can participate in the Net Metering scheme?
Everyone. Provided that you own the property, that it is legally build and that you have the title deed of the property.
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