Insider Business Cyprus businesses need incentives and financial support to improve energy efficiency

Cyprus businesses need incentives and financial support to improve energy efficiency

Cyprus businesses need incentives and financial support to improve energy efficiency, according to a survey conducted by the Cyprus Energy Agency, on behalf of the Ministry of Energy.

According to a press release, by 2020 Cyprus wants to achieve a primary energy consumption of not more than 2.23 Mtoe. To meet this challenge, the reduction of energy consumption of Cypriot businesses will play an important role.

According to the findings of the survey, the interest of businesses in Energy Efficiency is high, knowledge about energy saving opportunities is nevertheless lower. Most businesses claim that energy efficiency is high in priority for them, however, a large number of them cannot identify any energy saving opportunities. This is especially the case with smaller businesses, which indisputably lack expert knowledge on the topic.

The most common measures that businesses implement to save energy are lighting replacement, management systems, and staff education. The two last are achieved through standardised procedures in larger companies (e.g. ISO50001, HRDA educational seminars) and through simple actions on a more personal level for smaller companies (e.g. making sure devices are turned off before leaving).

There is high implementation of simple and cheap measures, such as replacement of inefficient lighting, but low uptake of measures with higher initial capital, even though businesses still show interest in those.

High interest is also showed regarding energy renovations of buildings, energy upgrades of process equipment, and modernisation of fleet but these measures are rarely implemented by SMEs due to high costs. Cypriot businesses, as it is noted, require financial support from the government for the implementation of such measures.

Smaller businesses are not as able to take advantage of the available funding, due to processes that require administrative work, as well as lack of expertise within the company. In order for all businesses to have access to the available funding, says the survey, further incentives and aid are required by smaller businesses.

The possibility of collaboration in order to reduce energy and resource consumption was also explored. Although interest and potential have been identified, there are currently limited applications in Cyprus working effectively. These act as good examples and encourage others to take on similar ventures.

The survey focuses on identifying existing awareness level and needs and good practices of theirs, in the field of energy efficiency. The outcomes of the survey will build the basis for further awareness raising activities and alignment of governmental services and support within Cyprus, especially targeted for Cypriot enterprises. As a next step, the Ministry together with the Cyprus Energy Agency and the Environment Agency of Austria, will organise an event to present opportunities and best practice examples for businesses in Cyprus. Moreover, the Energy Efficiency Network of Cypriot Businesses, a new initiative to promote energy efficiency in the tertiary sector, will be presented at this event.

The survey is part of a project to strengthen the implementation of the Energy Efficiency Directive in Cyprus conducted by Environment Agency Austria in cooperation with MECIT and CEA. The project is funded by the Structural Reform Support Service of the European Commission.

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