The Ministry of Energy, Commerce and Industry of Cyprus recently announced that it will launch a nationwide photovoltaic program starting from 2024, aimed at reducing household electricity bills by increasing the use of photovoltaic panels and enhancing photovoltaic power generation capacity. The plan will invest up to 90 million euros in the next three years. This year, the government is expected to provide subsidies for installing rooftop photovoltaic systems to approximately 6000 households, who can choose to share the installation costs with future electricity bills. This measure is expected to significantly reduce household electricity bills and promote the country's transition to green energy.

As a country that has long faced challenges such as traditional energy shortages and high energy prices, Cyprus has attached great importance to the development of renewable energy in recent years. The government plans to increase the proportion of renewable energy in the national energy structure to 22.9% by 2030. Cyprus has unique conditions, with an average annual sunshine time of over 300 days, providing an ideal natural environment for photovoltaic power generation. Since 2022, the government has significantly increased subsidies for household photovoltaic power generation and house insulation renovation, with subsidies for installing solar panels in households almost doubling. According to the prediction of the Ministry of Energy, Commerce and Industry of Cyprus, by 2030, nearly half of the country's households will have solar panels, marking a solid step forward in the field of renewable energy.

Official data shows that the national photovoltaic installed capacity in Cyprus has exceeded 350 megawatts. The government also plans to build a 72 megawatt photovoltaic park near the capital city of Nicosia, with an expected investment of over 70 million euros. To overcome the shortcomings of photovoltaic energy storage equipment, the government has successfully obtained a funding of 40 million euros from the European Union's Fair Transition Fund for the construction of centralized energy storage facilities. After completion, these facilities will be centrally managed by professional operators to ensure efficient energy utilization.Editor/Cheng Liting