Renewables

Power utilities in Greece, Cyprus allow home PV systems to be paid in installments

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Published

April 19, 2024

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Published:

April 19, 2024

Country:

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0

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Greece’s government-controlled power utility PPC launched an all-in-one solution for households to install photovoltaic panels, optionally with a battery unit. The service can be paid in 12 or 24 installments and with a 30% downpayment, but clients can apply for subsidies as well. At the same time, the Electricity Authority of Cyprus is conducting a similar call for applications for home PV units. Vulnerable customers can obtain such systems without any upfront payment.

Following Montenegro and a pilot project in Bosnia and Herzegovina, Greece and Cyprus have enabled the installation of home PV systems to be paid in installments. Prosumers are gradually becoming prominent drivers of the energy transition in Southeastern Europe, especially in Romania, Greece and Slovenia.

The affordability of solar panels in combination with subsidies and easy installation is an obvious advantage for households, institutions and small firms. At the same time, it is the prevailing technology in the emerging segment of energy communities and projects for self-consumption for local authorities.

Grants for home PV units, energy efficiency measures

Cyprus has received 5,100 applications within its project for photovoltaics for households and the call will remain open until 6,000 beneficiaries are selected. The first ones are expected to get approvals next week.

Electricity Authority of Cyprus (EAC), state-owned electricity producer and distribution system operator, is implementing the subsidy scheme. Worth EUR 90 million and divided over three years, the measures are partly funded by the National Recovery and Resilience Plan Cyprus – Tomorrow. It is part of a mechanism that includes energy efficiency upgrades in households.

Vulnerable households in the program only pay EUR 150 every two months through their electricity bills

Vulnerable households have the Photovoltaics for All option, to obtain home PV units without a downpayment. The upper limit is 4.16 kW, for users with electricity consumption of up to 6 MWh (6,000 kWh) in 2023. They will pay EUR 150 every two months through their electricity bill.

Households that get approval both for solar panels and energy efficiency measures are eligible for a EUR 750 grant.

PPC introduces myEnergySolar package for household customers

Government-controlled Public Power Corp. (PPC) rolled out a turnkey service called myEnergySolar for solar power units in households. The solutions are personalized and they can be preliminarily calculated through the company’s new app. Users can have home PV systems installed on roofs, terraces and on the ground or on structures next to their residence.

The investment upgrades the value of the property and enables power cost savings, the utility pointed out. The service is provided for repayment in 12 or 24 monthly interest-free installments, PPC said.

On the other hand, there is an obligatory downpayment of 30% of the total cost, but the customers can apply for subsidies. Moreover, for applications submitted until the end of June, the company offers a 10% discount if all is paid at once. The offer was developed in cooperation with the National Bank of Greece.

Consulting teams oversee the process end to end. One option comes with a battery storage system. Users will operate their home PV units in a net metering regime.

PPC is installing EGing and LONGi solar panels of 550 W and Huawei’s SUN2000 single-phase or three-phase inverters and Luna2000 batteries of 5 kWh.

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