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Investing in Solar Energy

The energy market in Greece is at the forefront of rapid development, attracting investors from around the world. With the emergence of Greece as an energy hub in Southeastern Europe, the deregulation of generation, transmission and distribution of electricity, and a dynamic campaign to renewable sources play an important role in energy production, the country is the focus of development opportunities.

Solar systems will be one of the most important actors in the energy profile of Greece. Greece has a rich solar resource and it is estimated that solar energy can cover one third of the energy needs of the country. Experts believe that the market will grow significantly and the value will exceed 4 billion euros in the coming years.

The largest force 20 με install 250 kWp per year, while overall annual increase in power the last 3-4 years is around 900kWp.

Investors are beginning to discover the high potential of solar energy in the Greek market. During the summer months the intensity of radiation is at its maximum point, increasing the demand for solar power because of the millions of tourists. Moreover, a growing need for energy in rural areas and islands that are developing areas. While, government agencies, industry and many hotels have shown interest in using photovoltaic energy.

Advantages of investment in Solar Energy

  • Rich solar potential, the best in Europe
  • Priority in the sale of energy generated in the transmission system
  • High market prices of the energy (feed in tariffs)
  • 20-year power purchase agreement (Power Purchase Agreement, PPA)
  • Favorable, long-term legal framework in Greece which ensures the credibility of the investment environment.

The development of RES in Greece ensured by institutional binding targets that require a 29% contribution of RES in energy production by 2020 compared with the current participation of 7%.

Support R & D

The Centre for Renewable Energy Sources (CRES) is the first R & D center in Greece that focuses on promoting research and applications RES / RUE / EU. CRES applied research to develop new energy technologies and support the market penetration and implementation of these technologies and investment projects. CRES is the link between basic research and industry to develop local products and services. Moreover, CRES operates as a consultant of the Greek government on the issue of national energy policy, particularly on entrepreneurship and investment ventures.



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Selling prices of the energy (Feed in Tariffs, FIT) according to Law 3734/2009

The following table shows the new price system and decreasing their development since August 2010.

Year-month/ Euro/MWh

Interconnected System

Non Interconnected Islands

  >100kW ≤100kW >100kW ≤100kW
February 2009 400,00 450,00 450,00 500,00
August 2009 400,00 450,00 450,00 500,00
February 2010 400,00 450,00 450,00 500,00

August 2010

392,04 441,05 441,05 490,05
February 2011 372,83 419,43 419,43 466,03
August 2011 351,01 394,88 394,88 438,76
February 2012 333,81 375,53 375,53 417,26
August 2012 314,27 353,56 353,56 392,84
February 2013 298,87 336,23 336,23 373,59
August 2013 281,38 316,55 316,55 351,72
February 2014 268,94 302,56 302,56 336,18
August 2014 260,97 293,59 293,59 326,22
From 2015 and for every year after (n) 1,3 x mSMP(n-1) 1,4 x mSMP(n-1) 1,4 x mSMP(n-1) 1,5 x mSMP(n-1)

mSMP(n-1): Mean System Marginal Price in the previous year n-1

Attractive Incentives
Ensure high sales prices of the energy (feed in tariffs), 20-year power purchase agreement (PPA), is also investments in the energy sector supported by the National Strategic Reference Framework of the EU

Greece: Map of Solar Radiation

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Source: CRES (Centre for Renewable Energy)

Sources ofEnergyPolicy
Ministryof Development(www.ypan.gr)
Energy Regulatory Authority(www.rae.gr)
Centre forRenewableEnergy(www.cres.gr)
GreekOperatorSystem Operator(www.desmie.gr)

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