Cyprus Introduces Grant Scheme Called Photovoltaics for All

Cyprus has announced an initiative called “Photovoltaics for All” Grant Scheme to make solar power accessible to all.

The program will take off early next year under the RES and EXE Fund. The initiative sees a signficant investment worth €30 million. The press conference where the initiative was announced saw prominent figures, Despina Panagiotou Theodosiou, President of the Board of Directors of the Cyprus Electricity Authority (ECA), and Adonis Jasemidis, the General Manager of the Authority, in attendance.

Papanastasiou stated that “Photovoltaics for All” is a significant evolution in the existing Grant Scheme. It encourages the set up of solar PV systems and thermal insulation of roofs in houses. The implementation of the plan should see an extension and a new announcement may be anticipated at the outset of 2024.

The program targets domestic consumers and the newly added category, “Photovoltaics for All,” looks at homeowners that do not have access to initial capital. The initiative will pave the way for the installation of a solar system of up to 4.16 kW in their homes.

Under the “Photovoltaics for All” category, customers stand to gain from pre-approval, which will allow them to go ahead with installation without upfront capital. Repayment of the system will start from the first day that the connection is achieved. Bimonthly charges of €150 will be integrated into the electricity bill.