/12th January 2015, RENEWABLE MARKET WATCHTM/ Greece has a superb sun radiation capacity, and it is estimated that one-third of Greece’s energy requirements could be met with solar. Greece ranks 5th worldwide concerning per capita installed PV capacity. Approximately € 4.5 billion were invested in the PV sector in Greece during the last 5 years. This is 35% higher than the cumulative amount invested in all other RES technologies during the last 20 years.
Based on the EU mandate (Eel, 140/2009) and the latest law on RES Development (3851/2010), the national target for RES by 2020, states that the energy produced by RES in Greece will contribute 20% of the gross final energy consumption, whereas the electric power produced by RES will contribute at least 40% of the gross electric consumption. The Ministry of Environment, Energy and Climate Change has estimated that the implementation of these targets would require EUR 16 billion investment over the next decade.
Greece has a superb sun radiation capacity, and it is estimated that one-third of Greece’s energy requirements could be met with solar. Greece ranks 5th worldwide concerning per capita installed PV capacity. Approximately € 4.5 billion were invested in the PV sector in Greece during the last 5 years. This is 35% higher than the cumulative amount invested in all other RES technologies during the last 20 years. In 2014, PV covered more than 5 % of electricity demand in Greece. Greece introduced high feed-in-tariffs (FiTs) for photovoltaic energy since 2006. This reflected in fast market growth, especially during the period 2011-2013, and reached a cumulative installed PV capacity of 2.58 GW at the end of 2014.
Net-metering scheme for small scale PV installations, which has been under discussion since 2013 was finally, introduced by the Greek Ministry of Environment at the very end of 2014. It is created especially to support self-consumption in agricultural areas for rooftops and ground-mounted PV systems with limitations for maximum installed PV capacity.
Solar power capacity in Greece will exhibit an increase in between 2015 and 2020 due to the recently announced net metering scheme; however, shall the growth be as high as it was in the past few years?
More information and answers to your questions about Greece solar PV market you may read here: Western Balkans Photovoltaic (Solar PV) Market: Outlook 2015÷2020
