Electricity costs have been getting higher and higher, and it’s becoming a major issue.

To tackle this, the government has been introducing all sorts of incentives to encourage investment in solar energy.

Solar energy is indeed a cost saving alternative, which reduces electricity costs for an ordinary home to around 10-20 per cent of what it would normally be.

The results are evident, and as the cost of electricity increases, more and more people are looking at this option.

A problem arises when it comes to units, such as apartments, that have no space to place solar panels. Even where there is space, other problems might arise, such as the slope of the roof being at the wrong angle for the panels to be placed for optimum results, or trees blocking the sunlight.

In cases that there are proven technical limitations for the installation of operation of solar panels, some other form of renewable energy production should be found.

In Greece, for example, investment companies buy up land which is suitable for the purpose, develop solar parks, sell shares, or even physical parts of the site with the panels, and the metering is offset against the ‘shareholders’ home consumption.

Cyprus has not yet caught up to this sort of approach, but this or similar alternatives should be considered. Panels no longer need to be placed where the consumption is happening. This could help provide more affordable electricity to factories, hotels and stores, as well as apartments.

These sorts of group parks could help towards saving land, especially good agricultural land, and avoiding the cutting down of trees.

Public pressure is affecting governmental decisions on this but any ideas should be looked upon positively if they can be implemented.

Reduction in electricity costs has a direct effect on tenants, who will find that the total rent and electricity cost will be much less than if panels do not exist. Similarly, businesses will find their operation cost reduce, making them more competitive.

 

Antonis Loizou & Associates EPE – Real Estate Appraisers & Development Project Managers, www.aloizou.com.cy, [email protected]