How It Works
Virtual Net-Billing is a method where the difference between the cost of electricity imported from the grid and the credit received for electricity generated by a photovoltaic (PV) system is calculated for each billing period. This method uses the tariff applicable to the consumer for the purchase cost and the renewable energy sources (RES) purchase price, as determined by the Cyprus Energy Regulatory Authority (CERA), for the credit. The key feature of Virtual Net-Billing is that the PV system generating the electricity is installed in a different location from the building benefiting from the energy production. This setup allows for flexibility in PV system installation while still providing significant financial benefits through energy credits.
Eligible Applicants
Natural or legal persons
Public and local authorities
Commercial and industrial units
Installation Locations
PV systems under Virtual Net-Billing can be installed in various locations, including:
On the roofs of legally erected buildings, according to the conditions of the Decree of the Minister of the Interior.
On the ground within a plot with a legally existing building. A building permit is required if the PV panel area exceeds 20 square meters.
On the ground within a plot without any erected building, in areas where PV system installation is permitted, provided the necessary permits are secured (building permit and/or urban planning permit).
Maximum Power
The maximum power for each PV system in this category is 150 kW per electricity consumption bill and per beneficiary/business. If an energy storage system is installed, the maximum power can increase to 500 kW.
Bill Settlement
Electricity billing is conducted by the respective supplier, either bi-monthly or monthly, for a period of 12 months, similar to the Net-Billing category. Two meters are installed:
One meter records the production from the PV system.
The other is bi-directional and records both the energy imported from the grid and the energy exported from the PV system.
Licensing and Approval Process
We manage the entire licensing and approval process for PV systems installed on roofs of legal buildings and on land up to 20 square meters where a legally existing building is present. The process includes:
Submitting an application to the District Administration/Municipality for exemption from a building permit.
After securing this exemption, applying to the Electricity Authority of Cyprus (EAC) as a Distribution System Operator (DSO).
For PV systems over 50 kWp, obtaining a General License from CERA.
Receiving approval from the DSO and issuing connection terms, which must be paid by the customer.
Signing the meter offset contract form and proceeding with the project implementation.
Conducting the final stage of control arrangement of the PV system with the EAC.
Submitting an application to the EAC for the issuance of a contract after a successful audit and issuance of the suitability certificate by the EAC.
Putting the PV system into operation with the signing of the contract with EAC.
By choosing Virtual Net-Billing, businesses can optimize their energy usage, reduce electricity costs, and contribute to a sustainable energy future.
Electricity Bill Settlement
Electricity billing is conducted by the respective supplier, either bi-monthly or monthly, for a period of 12 months, similar to the Net-Billing category. Two meters are installed:
One meter records the production from the PV system.
The other is bi-directional and records both the energy imported from the grid and the energy exported from the PV system.