The Cypriot government has launched a program to increase the number of solar panels used in the country, BNR reported. The idea is to make the technology accessible to households with less financial means. This is expected to reduce the pressure on high electricity bills. The start of the program will be announced within a month, reports the Cyprus Energy Ministry.
Currently, the installation of a photovoltaic system with a storage battery costs from 5 to 8 thousand euros. The idea is that this money will be granted through lending through the local electricity company and banks. The owners then pay off the system along with the electricity bills.
The scheme will be open for application to all. In some cases, financing can reach up to 90% of the amount.
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