Solar park potential

With the steep increase in the cost of electricity and the uncertainty that exists, both regarding our natural gas and that coming from Russia, at very high prices, it is evident that renewable energy is a must with the difference in cost getting bigger between EAC and solar energy prices.

There have been changes in the government’s requirements for photovoltaic parks. Solar panels no longer need to be on the spot of consumption, like the roof of a house. The solar panels can be placed in Paphos, even if the residence is in Nicosia.

This is a big help, allowing for alternative locations and giving consumers who want to invest in solar more freedom.

There are thousands of households that either do not have the appropriate place to put the panels, or are in dense vegetation with trees limiting the sun’s reach. Others may have roofs with the wrong orientation, or not want to add solar panels due to aesthetic sensibilities. In buildings with multiple apartments putting them in shared areas may be a problem.

The question arises as to whether there are investors interested in building solar parks and making individual panels available for purchase for personal use.

Alternatively, panels could be rented for long periods at a time, such as for 15-20 years, with an added fee for maintenance costs and so on.

Such parks would also be a good way to put empty fields to use, such as agricultural land for which there is minimal demand.

Banks can help finance such projects, though given potential demand investors should be satisfied.

It is worth studying the matter.

Antonis Loizou & Associates EPE – Real Estate Valuers, Estate Agents & Property Consultants, www.aloizou.com.cy, [email protected]