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Solar Energy

Solar Energy

Solar Energy

One of the core components of Greece’s energy profile will be solar, or photovoltaic, energy. Greece has a superb sun radiation capacity and it is estimated that one third of Greece’s energy requirements could be met with solar.

Experts believe that the market will grow impressively and have a value of more than 4 billion Euro in just a few years.

Greece is encouraging the development of solar thermal energy and a number of small- and mid-size companies have invested in this sector. As a result, today’s capacity in installed PVs has reached 42MW and is expected to reach 800 MW by 2020.

The largest of these companies install between 20-250 kWp per year while the total annual addition during the last 3-4 years has been on the order of 900kWp.

Advantages of Investing in Solar Energy:

  • Superb solar resources—among the best in Europe.
  • Priority dispatch by the system operator.
  • High feed in tariffs.
  • 20-year PPA (power purchase agreement).
  • Favourable, long-term legislative framework, ensuring investment reliability.
 
The development of the RES sector in Greece is guaranteed by legally binding targets that require a RES share of total produced energy of 29% by 2020, and 18% of electrical energy production.
 
Current Feed in Tariffs
A new feed in tariff regime was introduced on January 2009 with the new law 3734/2009 for RES.
 
The following table presents the new tariffs and the regression beginning August 2010.
Year-month/ Euros/MWh Interconnected System Non-Interconnected Islands
>100kW <=100kW >100kW <=100kW
2010 February 400,00 450,00 450,00 500,00
2010 August 392,04 441,05 441,05 490,05
2011 February 372,83 419,43 419,43 466,03
2011 August 351,01 394,88 394,88 438,76
2012 February 333,81 375,53 375,53 417,26
2012 August 314,27 353,56 353,56 392,84
2013 February 298,87 336,23 336,23 373,59
2013 August 281,38 316,55 316,55 351,72
2014 February 268,94 302,56 302,56 336,18
2014 August 260,97 293,59 293,59 326,22
From 2015 and after, for each year (v) 1,3 *mts(v-1)1,4*mts(v-1) 1,4*mts(v-1)1,5*mts(v-1)

 

mts(ν-1): marginal tariffsystem the previous year ν-1

Superb Incentives
High Feed in tariffs are guaranteed and PPA is issued for 20 years.
 

Energy Policy Resources

Ministry of Economy, Competitiveness & Shipping (http://www.ypoian.gr/)
Regulatory Authority for Energy (http://www.rae.gr/)
Centre for Renewable Energy Sources (http://www.cres.gr/)
Hellenic Transmission System Operator (http://www.desmie.gr/)

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