2020 Cyprus Country Report

Energy: Renewables
Sector Profile
A GREENER
FUTURE
Although still heavily reliant on fossil fuels, increased investment in
renewable energy sources and a strong focus on research and innovation
are fostering fresh efforts for Cyprus to develop a zero-carbon economy.
Cyprus has been making concerted
efforts to diversify its energy
landscape over the last several
years with the government
placing more focus on subsidising
green initiatives and international
companies investing
in installations to harness the
island’s 340 days of sunshine a
year. The country’s top-tier universities
and research institutes
are also playing a pivotal part in these efforts to
create a more sustainable energy mix through innovation
in smart tech and research in ways to
battle climate change.
Supporting the development of Renewable
Energy Sources (RES) and creating a more energy-efficient
future is high on the agenda for
Cyprus. Its EU 2020 Renewable Energy goal is to
achieve 13% of its energy consumption coming
from renewables. Cyprus achieved that with two
years to spare. In 2018, the percentage of renewables
in the gross final energy consumption rose to
13.78%, helping Cyprus exceed its target.
Given Cyprus’ electricity isolation and in a bid
to introduce more flexibility to its power system,
the country aims to introduce new and disruptive
smart grid technologies, as well as state-ofthe-art
control and storage methods to be used in
parallel with new electricity market approaches.
KEY
contacts
Ministry of Energy,
Commerce and Industry
www.mcit.gov.cy
Cyprus Energy Regulatory
Authority (CERA)
www.cera.org.cy
Electricity Authority
of Cyprus (EAC)
www.eac.com.cy
84 Country Report CYPRUS 2020