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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 per cent by 2030. With more than 300 days of sunshine a year on average, Cyprus is in a unique position to develop photovoltaic power generation. 2022, the Cyprus government has begun to increase the subsidies for domestic photovoltaic power generation and house insulation retrofit, and the subsidies for the installation of solar panels in households 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 centralised energy storage facilities, plans to be handed over to the operator after the completion of the unified management.
