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Cyprus’s Energy Landscape: Navigating Cooling Demands and Infrastructure Challenges

Overview Of Energy Consumption In Cyprus

A report by the European Commission’s Joint Research Centre shows that heating and cooling account for approximately 70% of household energy consumption in Cyprus. Although Cyprus records around 81% fewer heating degree days than the European Union average, cooling demand remains considerably higher. According to the report, cooling degree days in Cyprus are 610% above the EU average.

Household Energy And Economic Pressures

The study highlights the challenges households face in managing energy costs. Despite relatively low heating requirements, around 15% of households are unable to maintain adequate indoor warmth, while 8% have overdue utility bills.

Renewable Energy And Conventional Systems

Renewable sources account for approximately 43% of energy used for heating and cooling across all sectors in Cyprus. At the same time, nearly 150,000 households, representing around 39% of the total, continue to rely on diesel or gas boilers for heating.

Advancements And Opportunities With Heat Pumps

Heat pumps are highlighted in the report due to Cyprus’ high cooling demand, which exceeds heating demand by more than five times. According to the analysis, replacing diesel boilers with electric heat pumps could reduce energy consumption by an estimated 83% and lower carbon dioxide emissions by around 68%.

Results depend on factors including building insulation quality and user behaviour. Current subsidy schemes in Cyprus cover up to 60% of installation costs. Researchers also note that heat pumps are competitive when electricity costs are approximately three times the cost of heating with diesel.

Building Age And Energy Efficiency Upgrades

Buildings constructed before 2000 account for 57% of Cyprus’ building stock. Many of these properties were built before stricter energy performance standards were introduced. European Union plans call for a doubling of annual building energy renovation rates by 2030.

Conclusion

The intricate balance of high cooling demands and low heating needs in Cyprus presents both challenges and opportunities. Upgrading outdated infrastructures and leveraging renewable technologies, such as heat pumps, offer a viable path forward in reducing overall energy consumption and emissions. As policymakers and industry leaders focus on these strategies, the move towards a more sustainable and economically resilient energy framework becomes increasingly critical.

Why Investors Keep Buying Premier League Clubs Despite Heavy Losses

Fenway Sports Group’s sale of a minority stake in Liverpool Football Club to a consortium including Jeff Bezos shows why investors continue to see value in English soccer despite mounting losses.

The deal valued Liverpool at more than $7 billion, giving FSG a major return after buying the club for £300 million in 2010. Since then, Liverpool has won multiple domestic and European trophies, while the value of elite football clubs has climbed sharply.

That growth comes despite worsening finances across the Premier League. Deloitte found that the 20 clubs recorded combined pre-tax losses of £948 million in the 2024/25 season, more than six times the previous year’s figure. Only eight clubs reported an operating profit, compared with 13 a season earlier.

Rising player transfer fees are a major driver of costs, but profitability is only part of the equation for investors.

Why Club Values Keep Rising

Elite football clubs are increasingly seen as scarce assets with global audiences, powerful brands and multiple revenue streams. Their value can therefore rise even when day-to-day operations remain unprofitable.

“Even if you’re not making a profit day-in, day-out, the value of the asset is still going up,” Richard Haigh, global managing director at Brand Finance, told CNBC.

The Premier League’s international reach also makes its clubs attractive to sponsors and investors, while the limited number of top-tier teams adds to their appeal.

Turning Stadiums Into Year-Round Businesses

Investors are also looking beyond matchday revenue, seeking to turn stadiums and surrounding real estate into year-round businesses.

“The other thing that American sports do incredibly well, which investors are looking to do in Europe, is that the stadium and surrounding real estate is a 24/7, 365-day revenue generator,” said Lewis Gaut, a sports finance specialist at Goodwin.

Tottenham Hotspur’s £1.2 billion stadium is one example. Its commercial income rose from £117 million in 2018 to £215 million in 2022, according to UBS. The venue now hosts major concerts and NFL games.

Manchester United is pursuing a similar strategy with plans for a new 100,000-seat stadium as part of a wider regeneration project, estimated to cost around £2 billion.

The shift reflects a broader view of football clubs as scarce assets that can generate revenue from real estate, entertainment, sponsorships and other businesses.

For investors, that means operating losses do not necessarily make a club unattractive if its underlying value continues to grow and new revenue streams can make the business more sustainable.

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