Cyprus Paves The Way To Energy Autonomy Through Renewable Innovation

by THEFUTURE.TEAM

January 16, 2026

Renowned energy expert Michalis Drakoudis has presented a compelling case that Cyprus can achieve full energy independence by leveraging renewable resources. A new study, developed under the banner of the Energy Democracy initiative, demonstrates that the island nation can meet 93.5% of its annual electricity demand solely through renewables.

Data-Driven Analysis And Infrastructure Requirements

The study, based on thousands of hourly production, demand, and storage balance calculations for 2024, highlights that rooftop photovoltaic systems combined with centralized energy storage can deliver the bulk of Cyprus’ electrical needs. An additional 3,000 MW of rooftop solar installations and 9,100 MWh of energy storage are identified as prerequisites to reach near-total coverage, with the remaining 6.5% supplemented by limited conventional reserve or, eventually, seasonal storage via green hydrogen.

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

Robust Economic Case And Rapid Payback

The financial implications of this transition are highly attractive. With a total investment requirement of approximately €2.3 billion, current fuel and emission prices suggest a payback period of just 3.4 years. Post payback, the system’s operational costs approach zero, promising a lasting reduction in electricity bills for households and businesses alike, while keeping capital within the Cyprus economy and stimulating job creation.

Utilizing Surplus Energy And Enhancing Energy Democracy

The analysis further indicates that the annual surplus of renewable energy far exceeds any shortfall during periods of low production. This surplus presents significant opportunities beyond electricity supply, including water desalination and the medium-term production of green hydrogen for industrial use and seasonal storage. Meanwhile, existing thermal units would serve as security backups for rare or extreme conditions rather than functioning as the backbone of the system. Notably, the minimal land requirement, just 13 to 14 square kilometers of building rooftops, limits environmental impact and reinforces the transition of citizens from passive energy consumers to proactive energy producers.

Reforming The Electricity Market For Integrated Storage

The study also points out a critical market flaw: the current electricity purchasing model does not facilitate the development of state-run storage systems, which are essential for a small and isolated grid like Cyprus. Drakoudis advocates for a single-buyer model, akin to structures implemented in other small or insular markets, placing a central role in coordinating production, storage, and pricing. This model would streamline operations and further enhance economic efficiency.

A Strategic And Realistic Policy Choice

The central conclusion of the study is unequivocal: achieving energy autonomy for Cyprus is not only technologically feasible but also economically sound. The strategic shift towards renewables promises immediate and long-term benefits for cost of living, economic stability, and social cohesion. As the island positions itself for a future of low-cost, sustainable energy, it sets a benchmark for nations transitioning away from fossil fuels.

The research, with its meticulous analysis and forward-thinking recommendations, calls for decisive policy action to harness the full potential of renewable energy in Cyprus.

The Future Forbes Realty Global Properties

EU Services Production Grows As Information And Communication Lead

by THEFUTURE.TEAM

November 10, 2026

Services production continued to expand across the European Union in August 2026, with information and communication recording the strongest annual growth. However, performance varied significantly between industries and member states, while Cyprus reported a mixed picture, with business services expanding and hospitality-related activities declining.

Information And Communication Leads Sector Growth

Compared with August 2025, services production increased by 5.9% in the euro area and 5.8% across the EU in information and communication. Transportation and storage also recorded growth, rising by 2.1% and 1.9%, respectively.

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

Real estate activities increased by 1.6% in the euro area and 1.1% in the EU. Professional, scientific and technical activities grew by 1% in both areas, while administrative and support services advanced by 1.1% and 1.3%.

Accommodation and food services was the only major sector to record an annual decline, falling by 0.1% in both the euro area and the EU.

The monthly figures were more mixed. Information and communication remained the strongest performer, increasing by 1.2% in the euro area and 1% across the EU. Real estate activities rose by 0.4% and 0.9%, respectively, while transportation and storage edged up 0.1% in the euro area but declined by 0.2% in the EU.

Administrative and support services recorded modest gains of 0.2% in the euro area and 0.1% in the EU. Accommodation and food services fell by 0.3% and 0.4%, while professional, scientific and technical activities declined by 0.8% and 0.9%, respectively.

Slovakia And Greece Record Strongest Annual Growth

Romania recorded the largest monthly increase in services production, at 5.2%, followed by Malta at 1.8% and Portugal at 1.7%. Luxembourg experienced the steepest decline, with output falling by 5.1%, followed by Bulgaria at 2.3% and Denmark at 1.9%.

On an annual basis, Slovakia led with growth of 10%, followed by Greece at 9.3% and Malta at 7.5%. Hungary recorded the weakest performance, with services production declining by 5.6%. Denmark fell by 5.3%, while Italy recorded a smaller decrease of 0.3%.

Cyprus Sees Growth In Business Services But Weakness In Hospitality

Cyprus’ latest figures show a similar divide between expanding business services and weaker hospitality-related activities. According to the Statistical Service of Cyprus (Cystat), professional, scientific and technical activities recorded the strongest annual growth among the covered sectors in the second quarter of 2026, increasing by 3.4%.

Transportation and storage and information and communication both grew by 2.1%, while real estate activities rose by 1.6%. In contrast, accommodation and food services declined by 3.1% year on year, and administrative and support services fell by 2.2%.

First-half results were more favourable for several sectors. Between January and June, professional, scientific and technical activities grew by 3.5%, transportation and storage by 2.8%, real estate by 2.1% and information and communication by 1.3%.

Nevertheless, administrative and support services contracted by 1% over the six-month period, while accommodation and food services declined by 0.7%.

How Cyprus’ Figures Differ From Eurostat’s Data

The Eurostat and Cystat figures measure different aspects of economic activity and are not directly comparable. Eurostat’s services production index tracks changes in the volume of output, whereas Cystat’s Turnover Value Index for Services and Transport measures the value of sales at current prices.

The reporting periods also differ: Eurostat’s figures cover August, while the cited Cypriot data relate to the second quarter and first half of 2026.

Cystat transmits services production data to Eurostat but does not yet publish a separate national production index. Turnover figures therefore remain the main publicly available national indicator for the sector.

Taken together, the data point to continued growth in several of Cyprus’ business-oriented services, alongside persistent pressure on accommodation, food and administrative support activities.

Breaking news