As of 2023, Greece has an estimated installed solar power capacity of around 7.03 GW. ⁵⁶

By the end of the decade, the total installed capacity in Greece could more than triple to 29.6 GW. ²⁰

The average costs of various electricity generation sources in Greece are as follows:

• Solar: $0.14 per kWh ⁶
• Natural Gas: $2.66 per kWh for gas-fired generation ⁷
• Coal: range from $0.94-$1.05 per kWh based on EU averages ⁸
• Hydropower: $1.24 per kWh ⁷
• LCOE for onshore and offshore wind in Europe are respectively around $0.67 and $0.94 per kWh. ⁸

The distribution of electricity generation in Greece is as follows: ⁹

• Natural Gas : Approximately 32%
• Wind : Around 22%
• Solar : About 19%
• Coal : 10%
• Oil : 9%
• Hydropower : Around 8%

Greece generally enjoys a high daily availability of electricity, with an access rate of over 99% (indicating high reliability). ¹⁰ Outages are minimal, typically 1-2 hours per year, and occur mainly due to extreme weather events or maintenance activities. ¹¹

As of the end of 2023, Greece had approximately 72,500 photovoltaic power generation devices installed. This number includes various specifications and technologies and is growing rapidly. ¹²

In March 2023, a program was launched to incentivize the installation of small solar-plus-storage systems, further boosting the adoption of these technologies. ¹³

Installed Solar Farms: As of 2022, there are around 15 operational solar farms in Greece. ¹⁴ The largest of these is the Chronus Kozani Solar PV Park, with a capacity of nearly 140 MW. ¹⁵

Projected Solar Farms: An additional 24 solar farms are planned or under construction, bringing the total to around 40 solar farms by the coming years. ¹⁶ One notable example of a massive project under development is the RWE and PPC Greece Solar PV Park 1, with a planned capacity of 1,060 MW. ¹⁷

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Current Demand: The off-grid solar market in Greece is relatively small, primarily serving remote areas with limited grid access. However, the growth of the solar market is also driven by utility-scale and residential (off-grid) installations.

Projected Demand: The off-grid market is expected to grow modestly as the cost of solar technology continues to fall. The off-grid solar panel market in isolated islands is expected to see particular growth due to their reliance on imported fuels.

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Current Demand: Greece’s on-grid solar market has been growing steadily, driven by government incentives and falling solar costs. In 2022, Greece connected 1.4 GW of new photovoltaic (PV) projects to the grid, bringing the cumulative capacity to 5.5 GW. This trend continued in 2023, with an expected addition of around 1.6-1.7 GW.

Projected Demand: The on-grid market is expected to continue its growth as Greece aims to meet its renewable energy goals. The projected capacity for grid-connected solar is estimated to reach 29.6 GW by 2030.

The average monthly salary of workers in the solar industry in Greece is as follows:

• Solar Engineer: $1,300-$1,800 ¹⁹
• Photovoltaic Engineer salary is slightly higher: $2,600 ²¹
• Manufacturing and Labor Worker: $1,800 ²²

As of August 2024, the population of Greece is approximately 10,298,040 people. ²³

The cost includes:

Factory Rent – The highest average rental prices are found in the northern suburbs of Athens, where they are around $12.1 per square meter, followed by the city center at approximately $11.1 per square meter. In contrast, lower rental prices can be observed in Larissa, central Greece, where costs are about $6.1 per square meter. ²⁴

Mortgage Interest Rates – As of June 2024, the average mortgage interest rate in Greece is 4.12%. ²⁵ Different banks offer various rates based on the term of the mortgage. For example, Piraeus Bank offers a 5-year term to 30-year term from 2.85% to 5.0%. ²⁶

Industrial Electricity Prices – As of December 2023, the electricity price for industrial users in Greece is approximately $0.24 per kWh. ²⁷

Water Prices – In Greece, the cost of water for industrial use varies depending on the volume consumed. Here are the general rates: ²⁸

• Up to 1,000 cubic meters: $0.92 per cubic meter
• Over 1,000 cubic meters: $1.09 per cubic meter.

Greece is actively investing in the development of renewable energy sources, particularly solar energy Greece, to reduce dependence on fossil fuels and achieve its climate goals. This transition requires a robust energy infrastructure, which includes the following components:

• Transmission System Operator (IPTO): IPTO is the Independent Power Transmission Operator in Greece, responsible for managing the high-voltage grid, ensuring reliable and efficient electricity transmission across the country. ²⁹
• Distribution System Operator (HEDNO): The Hellenic Electricity Distribution Network Operator (HEDNO) is responsible for the distribution of electricity to end-users across Greece. ³⁰
• Public Power Corporation (PPC): PPC is the main electricity generation company in Greece, responsible for supplying power to a large portion of the country. ³¹
• Greece’s Grid and Interconnection: Greece’s national electricity grid is interconnected with other European grids, enabling the import and export of electricity. The grid infrastructure is managed by IPTO. Greece is actively developing and expanding interconnections with its neighboring countries, including with Bulgaria, Turkey, Italy, and Cyprus. ²⁹
• Island Green Energy: Greece has a significant number of islands. The government is actively investing in renewable energy solutions for these islands to reduce their reliance on fossil fuels. This includes a particular emphasis on solar power and hybrid energy systems. ³²

Greece has established a comprehensive legal framework to support the development of the solar industry, aiming to promote renewable energy and achieve its climate targets. Key legislation includes:

• Law 3468/2006 (Renewable Energy Sources Law): This law provides the foundation for promoting and regulating renewable energy production in Greece. It outlines the process for obtaining permits, connecting to the grid, and operating renewable energy installations. ³³
• Law 4685/2020 (Renewable Energy Sources Law): This revised law aimed at streamlining the licensing process for renewable energy projects, promoting investments and simplifying administrative procedures. ³⁴
• Law 4951/2022: This law focuses on further promoting renewable energy sources, including solar, and enhancing the energy sector’s overall sustainability. It aims to ensure that renewable energy sources contribute significantly to achieving the country’s energy and climate goals. ³⁴
• Net Metering Regulations: Greece has implemented net metering regulations allowing consumers with small-scale solar systems to offset their electricity consumption using the energy generated by their own solar panels. ³⁵
• Feed-in Tariffs (FiTs): The Feed-in Tariff (FiT) scheme was replaced by a market-based system, with the introduction of auctioning processes to determine the price for electricity generated from renewable sources. ³⁶
• National Energy and Climate Plan (NECP): Greece’s National Energy and Climate Plan (NECP) sets ambitious targets for renewable energy, including solar power, to achieve its climate goals. The NECP is a key policy document guiding Greece’s transition towards a sustainable energy future. ³⁷

The Greek government has introduced several initiatives and incentives to promote the adoption of solar energy. These include:

• Funding for Vulnerable Groups: The government provides financial assistance for vulnerable households to install solar systems, making renewable energy more accessible. ³⁸
• Operational Permits and Licensing: The government has streamlined the process for obtaining operational permits and licenses for renewable energy projects, making it easier for developers to bring solar projects online. ³⁵
• Reduced VAT Rate: Greece applies a reduced VAT rate (from 24% to 6%) for solar energy installations, making it more affordable for consumers. ³⁹

Installed Solar Projects

• Enipeas Solar Project: Located in the regions of Larissa and Fthiotida, with a capacity of 560 MWp. It is one of the largest solar sites in Europe. ⁴⁰
• PPC Ptolemaida Solar PV Park: With a capacity of 550 MW, this park is one of the largest solar power plants in Greece and is located in the region of Ptolemaida, Western Macedonia. ¹⁷
• Faethon Project (Midwestern Greece): Set to be completed by mid-2025, with two photovoltaic units with a combined capacity of 504 MW and integrated thermal storage units. ⁴¹
• Seli Solar Project (309 MW): Under development, with construction expected to be completed by 2025. ⁴²
• Peloponnese: This large-scale project in the Peloponnese region, has a capacity of 160 MW. ⁴³
• 96-MW Solar Project in Larissa: Approved, with construction expected to start soon. ⁴⁴
• Volos solar farm:  With a capacity of 50 MW, this photovoltaic facility is part of a municipal initiative in Volos. The surplus annual revenue from this project, estimated at $3.3 million, is planned to be distributed to households with the lowest incomes. ⁴⁵

Planned Solar Projects

• RWE and PPC Greece Solar PV Park 1: A joint venture between RWE Renewables and PPC Renewables, with a planned capacity of 1060 MW.¹⁷
• RWE and PPC Greece Solar PV Park 2: Another project, with a planned capacity of 940 MW, also under development by RWE Renewables and PPC Renewables.¹⁷
• SENS LSG Greece Solar PV Park: With a planned capacity of 480 MW, this project is in the permitting stage and aims to be commissioned by 2026.¹⁷
• PPC Renewable Amyntaio Solar PV Park: With a planned capacity of 449.98 MW, the project is expected to be commissioned by 2026.¹⁷
• Thessaly Solar PV Park: A large-scale project in the Thessaly region, with a planned capacity of 400 MW.⁴⁶
• Vathylakkos Solar PV Park: This project is planned to have a capacity of 79.3 MW, and is currently in the permitting stage. ⁴⁷

• ELPE Renewables: A subsidiary of Hellenic Petroleum, ELPE Renewables focuses on developing and operating renewable energy projects, including significant solar investments. They are actively involved in various solar projects across Greece.⁴⁸
• Meeco Services Hellas S.A.: Specializing in developing and operating solar power plants, Meeco Services Hellas S.A. is known for its sustainable solutions and international projects. They play a key role in expanding renewable energy in Greece.⁴⁹
• Juwi Holding AG: A global player in the renewable energy sector, Juwi Holding AG develops, finances, and operates solar and wind projects. They have a strong presence in Greece, contributing to the country’s renewable energy transition.⁵⁰
• JinkoSolar Holding Co., Ltd.: A leading global solar module manufacturer, JinkoSolar Holding Co., Ltd. supplies high-efficiency solar panels for a wide range of projects in Greece, contributing to the growth of the solar market.⁵¹
• Zhejiang Supcon Solar Technology Co. Ltd.: This company is a leader in solar technology, developing advanced solar thermal and PV technologies, and participating in the Greek market through partnerships. They are a significant player in the renewable energy sector.⁵²
• Terna Energy: Terna Energy is a leading developer, constructor, and operator of renewable energy projects, including wind, solar, and hydropower plants. They are actively developing large-scale solar projects across Greece, contributing to the country’s renewable energy goals.⁵³
• Energia: Energia specializes in renewable energy solutions, providing solar PV systems for residential, commercial, and industrial applications. They are a reliable provider of solar energy solutions across various sectors.⁵⁴