The promotion of renewable energy sources (RES) is one of the main priorities for the Government of Cyprus. One of the most important measures for the promotion of RES projects is the implementation of Financial Support Schemes. From February 2004 until February 2014, the total amount given as governmental grant or/and subsidy to more than 49.559 beneficiaries, was approximately €103.3 million.
The Government aiming to safeguard the interests of consumers, especially the vulnerable ones, in 2013, has announced a Scheme for 5.000 installations of photovoltaic systems with maximum capacity of 3kW/per system on residential buildings, using the net-metering method. The maximum capacity of the measure was 15MW. The Scheme offered financial incentives to 2.000 vulnerable consumers of the above beneficiaries.
For commercial and industrial consumers, Cyprus Energy Regulatory Authority (CERA) issued a program for the installation of “self production” from photovoltaic systems, of a total capacity of 10MW. For the purposes of this measure, the electricity generation is used exclusively to cover the electricity demand of the industrial or commercial units.
Measures such as these have contributed significantly to achieving early, the third indicative trajectory, which according to the provisions of the RES Directive, was 7.45% for the years 2015-2016, since the share of RES in the gross final energy consumption has exceed 7.7% in 2012.
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