|Cyprus||Up to 20kWp = $0.4863 21-150kW = $0.4593||Up to 20kWp = $0.2769 21-150kW = $0.4593||Up to 20kWp = $0.2769 21-150kW = $0.4593||15 years|
The Cypriot renewable energy policy was introduced in 2009 and then revised last year, with 9MW installed so far.
Although the government has placed an annual cap on the total volume of new installations, there is no limit on the size of plants. The maximum capacity for a large (21 – 150kW) PV plant is 2MW per year.
For 1012, the authorities are considering removing the PV cap altogether as well as a proposal for an additional category of 150kW – 10MW. There have also been calls to introduce a bidding process with a total capacity of 50MW.
Alongside the feed-in tariff, an Energy Fund has been implemented. It subsidizes the difference between the FiT and the current market price for electricity. This is expected to rise from $0.0297 to $0.0878 this year. The Cyprus Institute of Energy manages the operation of this fund. The final approval of investments is carried out by the Energy Fund Management Committee – made up of six members from the main public energy and industry authorities in the country.