5 reasons Cypriots should consider solar panels

Across Europe, solar panels are becoming more popular as we push towards environmentally friendly energy sources. Backed by a range of government schemes and increased accessibility, solar panels are more affordable than ever. But why should Cypriots consider solar panels for their homes and businesses? In this article, we’re exploring five reasons solar panels might be right for you.

What are the benefits of solar panels?

There are multiple compelling reasons to consider solar panels. Let’s start with the most significant benefit to buyers.

1. Save Money on Your Energy Bills

Cyprus is bright and sunny for roughly 320 days a year. With solar panels installed on your roof, you can make the most of the sun to reduce your energy costs significantly. Cyprus mainly relies on imports of fossil fuels for their electricity grid. If you opt for solar panels, you could even become independent from the grid altogether. Over time, a well-designed solar panel system can lead to substantial savings for your electricity bills.

https://www.expatarrivals.com/europe/cyprus/weather-cyprus

From mid-April through to October, the Cyprus summer stretches out. With temperatures over 35°C and minimal rainfall, Cyprus has the ideal environment for effective solar panel use. Even the winters in Cyprus are mild, with low temperatures reaching roughly 5°C in January. Cypriot winters are still bright and rarely cloudy, meaning solar panels can still generate energy despite the cold temperature.

2. Environmental benefits

Having a positive impact on the environment is essential to many. Rather than relying on fossil fuels for energy, solar panels provide clean, renewable energy that’s much better for the planet. Many European countries – including Cyprus – have committed to lowering emissions and tackling climate change. Adopting solar power helps the nation achieve its goals and supports the UN’s goals.

https://sdgs.un.org/goals

Affordable, clean energy is a core principle of the UN’s sustainable development goals. Solar panels are one of the easiest ways to generate clean energy without relying on the national grid. If your energy comes from your own source, you’re less likely to be affected by things like power cuts, shortages, and other issues from the national grid. Homeowners could also invest in a solar battery system to store excess energy for the winter months.

3. Government incentives

As part of the UN’s efforts to move towards sustainability, the Cypriot government offers a range of incentives for homeowners looking to invest in solar panels. According to the UN’s national review from 2021, Cyprus is below the EU average, respecting its use of affordable, renewable energy. Cypriots who want to make the most of this situation can apply for various incentives to decrease the installation cost of solar panels.

https://unsplash.com/photos/r0zrjWheW2g

One such incentive is the net metering scheme. Buyers registered as members of vulnerable groups, like those with disabilities, are eligible for a grant of anywhere between €1000 – €5,000/kW of installed solar panel capacity to help with the initial installation costs. Typically, the most expensive aspect of solar panels is their installation, so government grants are compelling.

4. Long-term investment

Solar panels have a long lifespan, lasting up to 25 years. Over that time, solar panels pay for themselves repeatedly. Investing in solar panels saves money on your energy bills for more than two decades, regardless of the state of rising electricity prices. Not only are solar panels a way to save money, but you can also make money from them by selling excess energy back to the national grid.

https://solarincyprus.com/

Protecting yourself and your future from potential fluctuations in the cost of energy is vital. One way to invest in the financial stability of your future is to install solar panels. They can ensure at least one aspect of your bills remains consistent, regardless of anything else. In today’s fluctuating financial world, creating stability where you can is essential.

5. Improved property value

There’s a return on investment period with solar panels before you see significant savings, but their value is undeniable. You can add value to your home by installing solar panels, giving you one last financial benefit before you sell your house. In an increasingly environmentally friendly world, buyers are looking for homes that are already equipped for greener living.

https://unsplash.com/photos/0GbrjL3vZF4

Displaying solar panels on your property – whether on the roof or dedicated ground space – shows your home is more energy efficient than others on the market. Buyers are more likely to offer higher bids on a property if they know it’s expected to fetch them substantial savings on their own electricity bills.

Solar panels are a significant investment, but they pay for themselves over time and then some. As a bright, sunny country, Cyprus is the perfect environment for making the most of this reliable, renewable, clean energy source. 

 

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