65 Annual Report 2021 impact on the electricity system of Cyprus. • Simulation of the operation of system of Cyprus for the coming year with and without the proposed hybrid/storage solution with high analysis data provided by TSOC. • Production cost and income analyses to evaluate the value of the technologies in the electricity system. CERA reviewed the basic principles, methodology and criteria for regulating energy storage systems/ technologies regarding the licensing, operation, development of special costing, by proposing incentives for the promotion of such technologies and mechanisms that will be introduced for the development of such technologies. Two medium-sized storage units for pumped-hydro and battery storage technologies were developed and submitted to CERA for approval, along with the relevant business plans, environmental impact assessment, grid connection design and detailed facility engineering. The following results were achieved during the project: • Cyprus must use a 500MW storage capacity to achieve 40% RES penetration and 25% reduction in energy costs. • Existing water tanks will help to achieve the above targets with 40% reduced cost due to the use of Cyprus' existing reserves. • It has been proven that the construction of new conventional power plants is not necessary since the storage units will decrease the units required for network safety purposes and are idle. • Certain proposals have been created for the costing of stored electricity to allow both the penetration of RES and the development of storage units without this affecting the cost paid by consumers and without the need for government financial support. • Collaborations have been achieved with organizations that provide know-how and an interest has been expressed for participation in the future development of the installations. • Investors have shown an interest in participating in the construction and operation of energy storage plants. In 2021, CERA was an active participant in all the consortium meetings and at the technical meetings of the SREC project. In addition, it actively participated in the two "Storage & Renewables Electrifying Cyprus" workshops. The main scientific and technological results and general energy storage issues were presented during these workshops. Intelligent light sensing for next generation smart grids (LightSense) The LightSense project is part of the RESTART 2016-2020 programs of the Research and Innovation Foundation for Research, Technological Development and Innovation. The primary goal of the project is to holistically address the open challenges related to the availability, fault tolerance and security of energy distribution networks in Cyprus, with an emphasis on timely fault prevention and intrusion detection. In particular, it aims at: • utilizing the capabilities of the optical measurement of the optical fibers that are installed in the network. The aim is to monitor continuously, remotely and automatically the condition and the integrity of the network infrastructure of the main energy supplier in Cyprus. • Extracting the critical information, such as the exact location of faults, including hotspots, and provision of predictions on impending occurrence and fault detection, in order to ensure the
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