Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid. For example, if a residential customer has a PV system on their roof, it may generate more electricity than the home uses during daylight hours. If the home is net-metered, the electricity meter will run backwards to provide a credit against what electricity is consumed at night or other periods when the home's electricity use exceeds the system's output. Customers are only billed for their "net" energy use.
If the home uses the Net-Metering method, the electricity meter will run backwards to provide a credit against what electricity is consumed at night or other periods when the home's electricity use exceeds the system's output. Customers are only billed for their "net" energy use.
The Net-Metering method is credited in kWh.
The maximum power that can be installed using the Net-Metering method is 4.16 kWp for single phase connections and 10 kWp for 3-phase connections.
You have the right to apply for Net Metering for any Residential or Commercial Building. These investments regard the installation of Photovoltaic (PV) Systems on the roof of licensed domestic units (primary house) or buildings, in which local authorities are housed or on the ground of the plot in which the abovementioned building is located.
In cases that the suggested installation place is of common use (e.g. blocks), then all owners must declare that they agree for the installation at the premises.
The producer / consumer pays an annual fee to the Supplier of €47,23 + VAT per kWp, to offset the belayed/deferred production and consumption of power in the house. These charges are paid by the producer / consumer in six equal instalments and are included in the supplier’s invoice, i.e €7,87 + VAT per kWp of the P/V system. This fee is subject to future variations according to the rules and regulations published by the Cyprus Energy Regulatory Authority (CERA).
The energy produced from 1 kW PV system is estimated at 1800 kWh per year. Through our experience in previous Photovoltaic System installations we have seen that, in many cases, the financial return of these systems is between 4 – 5 years.
The lifetime of the Photovoltaic System is theoretically longer than 25 years. The Photovoltaic modules have a Linear Performance Guarantee of 25 years. A Linear Performance Guarantee represents a continually decreasing performance guarantee. This guarantees a maximum performance reduction of a fixed percentage over a period of 25 years. The PV modules will perform at 78-82% of their initial performance. The Photovoltaic inverters have warranties that range from 5 years to 20 years depending on the brand of choice. The mounting systems have a 20-year warranty. All the electrical equipment used also has warranties of up to 20 years.
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