Electricity in Cyprus in 2023/2024

Over the past 12 months, from July 2023 to June 2024, Cyprus has relied heavily on fossil fuels for its electricity consumption, specifically oil, which accounts for about 78% of the total electricity generated. The remaining portion of Cyprus's electricity comes from low-carbon sources, which provide approximately 22% of the electricity. Among these clean energy sources, solar power leads with around 17%, while wind contributes nearly 4%. The reliance on fossil fuels, particularly oil, underscores the urgent need for Cyprus to diversify its electricity mix by ramping up low-carbon energy sources to mitigate environmental impact and promote sustainability.

Suggestions

To increase the generation of low-carbon electricity, Cyprus can expand its already substantial solar energy capacity. Leveraging the ample sunshine Cyprus enjoys, further investment in solar infrastructure would provide an effective strategy to increase green energy contribution. Moreover, Cyprus can take inspiration from other countries. For example, Denmark showcases a robust wind energy sector, with 59% of its electricity from wind power, which is something Cyprus can emulate given the favorable Mediterranean winds. Furthermore, learning from countries like Slovenia, where nuclear energy accounts for 35% of electricity, Cyprus could consider nuclear energy as a reliable, low-carbon alternative to fossil fuels.

History

The development of low-carbon electricity in Cyprus has gradually evolved over recent years. The early 2010s saw modest growth in wind energy, with minor increases each year, but no substantial breakthroughs. Notably, since 2015, solar energy began to consistently enhance its share in electricity generation. The period from 2020 onward showed more dynamic improvements, with solar power contributing incrementally every year. Meanwhile, wind energy has remained relatively stable with no significant changes since 2014. This steady focus on solar demonstrates Cyprus's commitment to harnessing its renewable resources, paving the way for a cleaner electricity future.

Electricity Imports and Exports

Balance of Trade

Data Sources