About 97% of the primary energy use was imported in 2008. However, the European Union RES target for Cypus is 13% giving Cyprus an opportunity to promote its own energy production and increase its energy independence of export in the near future. According to the national action plan Cyprus expects it will also meet this target. According to the IEA key statistics 2010 the Cypriotic energy import in 2008 was 5 TWh higher than the primary energy use. If correct, this corresponds about 18% storage capacity of the annual energy use. There was equal imbalance in 2007.
The Cypriot target of solar power including both photovoltaics and concentrated solar power is combined 7% of electricity by 2020, which will be one of the top ones in the European Union markets. Respective target is in Spain 8%, Germany 7%, Greece 5%, Portugal 4% and Malta 1%. Solar heating is the usage of solar energy to provide space or water heating. Solar heating per capita in 2010 was the highest in Cyprus of all European countries: 611 W per capita. Corresponding value was in other top EU countries: Austria 385, Greece 253 and Germany 120. In 2010 this capacity was the lowest in the EU, with high unused domestic energy opportunities, in Finland 4, Latvia 3, Estonia 1 and Lithuania 1. Correspondingly the value was in a Scandinavian countryDenmark 68.
The Cypriot Energy Regulatory Authority announced a number of steps, aimed at facilitating development of Photovoltaics in Cyprus. Among them is the large-scale application of Net metering. CERA aims to reduce electricity prices for the households where net metering is applied, via fuel saving and carbon dioxide reduction. Cyprus introduced net metering as pilot program in 2012. The program concerns selected governmental buildings and a few communities only. Its goal was to gain significant experience and knowledge on how to run the electricity grid using net metering.
Net Metering Research
The University of Cyprus has announced plans for a second, 10 to 13 MW, solar park and revealed it will lead a €1.3 million research program into the adoption of net metering across the European Union. The UoC will also lead an EU-funded European research program on promoting net metering policies. The university has signed a memorandum of co-operation with the Bishopric of Tamasos and Orini of the Church of Cyprus, to develop a photovoltaic park in the Cypriot capital of Nicosia.
UN's Cyprus PV system
The United Nations Development Programme in Cyprus installed a 15 KW photovoltaic system at its offices. The park cost US$30,000 and is now connected to the grid as well.
EuroAsia Interconnector
will connect Israel, Cyprus and Greece with 2000 MW HVDCundersea power cable. It is a leading Project of Common Interest of the European Union and also priority Electricity Highway Interconnector Project. Cyprus, as last EU member fully isolated from energy interconnections will be connected to European network.