Cyprus Leads The EU In Household Cooling Demand As Rising Temperatures Reshape Energy Use

Cyprus recorded the highest share of household energy consumption devoted to space cooling in the European Union in 2024, according to new data from Eurostat, highlighting the growing impact of rising temperatures on residential energy demand across southern Europe.

Cyprus Leads The EU In Cooling Demand

Space cooling accounted for 16% of final household energy consumption in Cyprus last year, the highest share among EU member states. Malta ranked second at 15%, while Greece allocated 7.4% of household energy use to cooling, compared with 2.5% in Spain and 2.3% in Italy.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Although larger countries such as Italy, Spain and Greece consumed more energy for air conditioning in absolute terms because of their larger populations, Cyprus stood out for the proportion of household energy dedicated to keeping homes cool.

Cooling Demand Continues To Rise

Across the European Union, household energy consumption for space cooling reached 80.4 thousand terajoules (TJ) in 2024, doubling from 40.5 thousand TJ in 2018. According to Eurostat, demand increased almost every year during that period, with only two temporary declines: a 2.5% drop in 2020 and a 1.9% decrease in 2023.

The broader trend nevertheless points to a steady increase in cooling demand as higher temperatures make air conditioning an increasingly important part of household energy use across the bloc.

Mediterranean Countries Face The Greatest Pressure

In absolute terms, Italy recorded the highest energy consumption for space cooling at 26.3 thousand TJ, followed by Spain with 14.3 thousand TJ and Greece with 11.9 thousand TJ. However, when measured as a share of household energy use, Cyprus and Malta remain the EU’s most cooling-dependent countries, reflecting the greater impact of prolonged summer heat on the two Mediterranean island states.

The latest figures illustrate how climate change is reshaping energy consumption patterns across Europe. In the bloc’s warmer regions, space cooling is becoming less of a seasonal necessity and more of a permanent component of household electricity demand.

The Future Forbes Realty Global Properties

Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

Breaking news