Cyprus Government Unveils New Energy Storage Grants To Slash Electricity Costs

by THEFUTURE.TEAM

January 30, 2025

In a bold move to combat rising energy costs and strengthen energy security, Cyprus President Nikos Christodoulides has announced new government grant schemes for energy storage systems aimed at both businesses and households.

The initiative is designed to reduce electricity costs by promoting the use of energy storage technologies and increasing the share of Renewable Energy Sources (RES) in the national energy mix. Christodoulides emphasized that this move is part of broader efforts to enhance energy security across the island.

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During the presentation of the Government’s Annual Programme for 2025 on 29 January, the President revealed that the government is launching the “Photovoltaics for All” scheme, targeting small businesses. This initiative is set to play a key role in encouraging businesses to invest in solar energy solutions, thus lowering their energy bills. Additionally, the competitive electricity market is expected to open fully, giving consumers more choice and flexibility.

The government is also making significant strides to improve Cyprus’ energy infrastructure, with the Liquefied Natural Gas (LNG) terminal at Vasilikos near completion. This project is expected to reduce the reliance on conventional electricity generation methods and help lower overall electricity costs.

Looking further ahead, the President confirmed that efforts to exploit natural gas reserves in Cyprus’ Exclusive Economic Zone (EEZ) would intensify throughout 2025. Specifically, he announced plans for two new drilling operations at the ‘Elektra’ and ‘Pegasus’ targets. On top of that, President Christodoulides is set to travel to Egypt on 17 February to sign agreements aimed at the commercial development of the ‘Kronos’ and ‘Aphrodite’ gas fields, marking a significant step in Cyprus’ energy strategy.

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EU Moderates Emissions While Sustaining Economic Momentum

by THEFUTURE.TEAM

November 15, 2025

The European Union witnessed a modest decline in greenhouse gas emissions in the second quarter of 2025, as reported by Eurostat. Emissions across the EU registered at 772 million tonnes of CO₂-equivalents, marking a 0.4 percent reduction from 775 million tonnes in the same period of 2024. Concurrently, the EU’s gross domestic product rose by 1.3 percent, reinforcing the ongoing decoupling between economic growth and environmental impact.

Sector-By-Sector Performance

Within the broader statistics on emissions by economic activity, the energy sector—specifically electricity, gas, steam, and air conditioning supply—experienced the most significant drop, declining by 2.9 percent. In comparison, the manufacturing sector and transportation and storage both achieved a 0.4 percent reduction. However, household emissions bucked the trend, increasing by 1.0 percent over the same period.

National Highlights And Notable Exceptions

Among EU member states, 12 reported a reduction in emissions, while 14 saw increases, and Estonia’s figures remained static. Notably, Slovenia, the Netherlands, and Finland recorded the most pronounced declines at 8.6 percent, 5.9 percent, and 4.2 percent respectively. Of the 12 countries reducing emissions, three—Finland, Germany, and Luxembourg—also experienced a contraction in GDP growth.

Dual Achievement: Environmental And Economic Goals

In an encouraging development, nine member states, including Cyprus, managed to lower their emissions while maintaining economic expansion. This dual achievement—reducing environmental impact while fostering economic activity—is a trend that has increasingly influenced EU climate policies. Other nations that successfully balanced these outcomes include Austria, Denmark, France, Italy, the Netherlands, Romania, Slovenia, and Sweden.

Conclusion

As the EU continues to navigate its climate commitments, these quarterly insights underscore a gradual yet significant shift toward balancing emissions reductions with robust economic growth. The evolving landscape highlights the critical need for sustainable strategies that not only mitigate environmental risks but also invigorate economic resilience.

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