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Cyprus Loses 167,000 MWh Of Renewable Energy In 2024 Amid Lack Of Storage Solutions

by THEFUTURE.TEAM

February 5, 2025

Cyprus wasted a staggering 167,000 megawatt hours (MWh) of renewable energy in 2024 due to insufficient storage infrastructure, leaving MPs and solar panel owners frustrated as electricity bills continue to rise.

Members of the Parliamentary Committee on Commerce, Industry, Energy, and Tourism expressed their dismay over the significant loss of energy, which could have been utilized during periods of peak demand. The lack of planning for energy storage infrastructure has left the country’s renewable energy potential untapped, with no clear strategy from the government on how to store and distribute the surplus energy generated from renewable sources.

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The committee criticized both the government and key agencies, including the Electricity Authority of Cyprus (EAC) and the Ministry of Energy, for their lack of coordination. Committee Chairman Kyriakos Hadjiyiannis from the Disy party blasted the authorities for their “absolute absence of policy,” accusing them of misleading citizens into investing in solar panels without ensuring the necessary grid and storage infrastructure was in place to support it.

Akel MP Costas Costa echoed this frustration, pointing out that many areas of Cyprus can no longer accommodate additional solar power due to grid limitations. “People who installed solar panels to save on energy costs are now facing electricity bills of €300-400, compared to €60-70 just two months ago,” Costa said, blaming past decisions for the ongoing crisis.

MPs have called on the government and the EAC to provide answers on when grid upgrades will allow the full integration of solar power. Despite plans for a storage system covering large solar parks, it remains unclear when households will benefit from the system. The committee also urged for a digital tracking system for photovoltaic (PV) applications to ensure greater transparency.

In response, Dipa MP Michalis Giakoumis accused the government of dishonesty, describing the situation as “borderline fraud” and demanding a roadmap for energy storage to prevent further losses of renewable energy.

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Google Escalates Capital Outlay Amid Surge in Cloud Demand

by THEFUTURE.TEAM

July 25, 2025

Robust Investment Strategy To Power AI Innovation

Alphabet Inc. has significantly revised its capital spending forecast for 2025, allocating an additional $10 billion to accommodate the burgeoning demand for its Cloud services. This strategic move reflects the company’s proactive approach to expanding its infrastructure, particularly in light of the accelerated adoption of AI-powered solutions.

Expanding Infrastructure To Meet Unprecedented Demand

In its second quarter earnings report, Alphabet highlighted a sharp increase in cloud revenues—up 32% to $13.6 billion. This surge has precipitated a $106 billion service backlog, as noted by Finance Chief Anat Ashkenazi during the post-earnings call. The majority of the additional capital expenditure is earmarked for enhancing technical infrastructure, with investments focused on servers and data center networking equipment. The company’s renewed forecast now stands at approximately $85 billion in capital expenditures for 2025, up from the previously projected $75 billion.

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Strategic Expansion Amid A Tight Supply Environment

Ashkenazi pointed out the challenges posed by a tight supply environment, emphasizing that the accelerated pace of server deployments and data center construction is essential to keeping pace with client demand. As Google continues to enhance capacity quarter-by-quarter, further increased capital spending is anticipated in 2026 to capitalize on emerging growth opportunities across the organization.

Implications For Future Profitability

While these significant investments will position Google at the forefront of AI and Cloud technology, they also imply a measurable increase in expenses, potentially affecting short-term profitability. Nevertheless, this forward-looking expansion underscores Alphabet’s commitment to sustaining its competitive edge in a rapidly evolving technological landscape.