What is the wholesale price of energy storage vehicles in Cyprus

What is the cheapest powertrain in Cyprus?

In Cyprus (including purchase subsidies and tax breaks), BEVs are already the cheapest powertrain for medium cars bought today, which is illustrated in Figure 1. Small and large cars become the cheapest powertrain on a lifetime TCO basis from 2024 and 2028 respectively.

What are the fuel and electricity pricing assumptions in Cyprus?

Full fuel and electricity pricing assumptions are detailed in Appendix 6.1. CCA review, based on local market garage data, showed that annual mileages in Cyprus are around 20% below EU averages. We have assumed mileages of 12,000km, 10,500km & 9,000km for the first

How much does public charging cost in Cyprus?

It is important to note that public charging is currently subsidised by the Cyprus Electricity Authority (with cheaper prices estimated at 0.18 €/kWh available to consumers), however, as this is likely to be reviewed in the short term, a higher public charging tariff has been used in this study.

Are BEVs the cheapest option for small cars in Cyprus?

The results have wide-ranging implications for Cyprus consumers as well as policymakers responsible for leading the decarbonisation transition. BEVs are already the cheapest powertrain for medium cars bought today and will become the cheapest option for small and large cars in 2024 and 2028 respectively.

Will small cars become cheaper than petrol ices in Cyprus?

In Cyprus, without upfront subsidies, small and medium cars will not become cheaper than Petrol ICEs until 2028 and 2024 respectively, however, with a €5,000 grant (which was previously available to consumers in Cyprus but has now been suspended), BEVs would already be cheaper for medium cars with small cars following in 2023.

Does Cyprus have a BEV market?

In the red segment in the Figure, Cyprus has experienced limited growth due to Petrol ICEs (without the upfront purchase subsidies for BEVs seen in other markets) currently being significantly cheaper than BEVs for first owners. Further government support is required to ensure to reduce the price differential and promote first owner BEV uptake.