All eyes on Greece, as the country gears up for a new era of renewable energy.
The Greek photovoltaic (PV) market has been rapidly growing in recent years, driven by a combination of government support and favorable market conditions. Greece is blessed with abundant sunshine, making it an ideal location for solar power. This potential has led to a significant increase in the deployment of PV systems in recent years.
Government Policies and Incentives
The Greek government has implemented several policies and incentives to support the growth of the solar industry. One of the most important of these is the Net Metering scheme, which allows PV system owners to feed excess energy generated by their systems into the grid and receive credit on their energy bills. The scheme has been instrumental in encouraging the uptake of PV systems in Greece, and as a result, the country has seen a significant increase in installed PV capacity.
Data released by the Hellenic Association of Photovoltaic Companies show that the Greek solar market installed three times more capacity in 2022 compared to 2021. Greece connected 1. 36 GW of new PV capacity to the grid in 2022. This represents a significant increase from just 25 MW in 2010. The report also notes that Greece is now the fourth-largest solar market in Europe, after Germany, Spain, and the Netherlands. Another factor driving the growth of the PV market in Greece is the falling cost of solar panels and other components.
The cost of solar panels has decreased by more than 80% over the past decade, making solar power competitive with traditional energy sources in many parts of the country. The favorable market conditions, coupled with government support, have created a conducive environment for the growth of the PV industry in Greece.
The Future for Greek PV
Looking ahead, the prospects for the PV market in Greece are bright. The government has set ambitious targets to increase the share of renewable energy in the country’s energy mix. Greece aims to generate 35% of its electricity from renewable sources by 2030, with solar power expected to play a crucial role in meeting this target. Greece aims to almost double its installed capacity from renewables to about 19 gigawatts by 2030, further driving the growth of the PV market in Greece.
In conclusion, the PV market in Greece has seen rapid growth in recent years, driven by favorable market conditions and government support. The country’s abundant sunshine and ambitious renewable energy targets make it an attractive destination for PV investors. The prospects for the PV market in Greece are bright, and as the country continues to invest in renewable energy, the PV industry is expected to play a critical role in meeting its energy needs.
