In July 2013, the Cypriot Government announced the launch of a project to install photo voltaic systems on residentialhomes using the method of NET METERING.
The maximum power allowed by the Energy Regulatory Authority to be installed in each house is up to 5kWp and this aims to save energy by promoting the development and use of renewable energy sources.
The kWh clearing system of Net-Metering enables anyone who owns a permanent residence, in Cyprus, to install a photovoltaic system with capacity of 3kw, and to ensure significant savings in power consumption. It is estimated that the system can produce about 5000 kWh per year. The way that it works is simple and is based on the idea that the photovoltaic system is connected directly to the grid of EAC.
A photovoltaic system with capacity of up to 5 kW, using up to 16 x polycrystalline PV frames can be installed on the roof of a house owned in Cyprus.
The EAC installs a new meter, which measures both production of the PV system and also the consumption of the house. While the solar panels produce DC current, the energy is given to the house for consumption via the inverter.
If the consumption is greater than production then the house will use energy from the grid. The kilowatt hours are charged unless there are already credited kilowatt hours from previous months' production.
If production is greater than consumption, the extra kilowatt hours are credited for the following two months and at the end of the year, a clearing is performed and if there is still excess of kilowatt hours, then they are lost.
The great advantage of the Net-Metering project is that it only concerns itself with kWh. This means that an individual is NOT dependent on whether the state has money, when he will get paid and it is unaffected to any future taxation.
On roofs of legally existing housing units or on the ground within the block in which the unit / building exists and in the cases where the owners of housings units are more than one, then all owners must responsibly state that they agree with the installation of the specific installation.
NET- METERING can only be applied to the permanent residence of a civilian that has been legally built based on the regulations sent by the Department of Town Planning and Housing.