The Greek Solar Energy (PV) Market
The Greek solar PV market is ready for take-off, following Spain and Italy as the next interesting Mediterranean top spot. Greece is set to become one of the global top ten biggest PV markets in 2010. This optimism is driven by the generous feed-in tariff in combination with a sunny climate. Even the problems of bureaucracy seem to have been resolved after two years of struggling.
In addition to the attractive feed-in tariffs, state subsidies of up to 40% are available for most commercial applications. The return on investment will be in the range of 15-30%.
Smooth and relatively healthy and steady market growth is foreseen. Residential roof-top PV systems below 10 kWp will become an important market segment, with a feed-in tariff of €0.55/kWh guaranteed for 25 years.
Over the last two years, potential investors have filed more than 8,000 applications for commercial PV systems, with a cumulated capacity of 3.7 GWp. Only 30 MWp had been realized by mid-2009, while the annual market for 2009 is forecast to be in the region of 35-40 MWp. Over next two to three years, the market is predicted to exceed100 MWp annually. Grid parity is not expected before 2014-2018, as retail electricity prices are comparatively low in Greece.
The Greek PV industry is developing rapidly (both upstream and downstream). Hundreds of PV companies are already active in Greece, including major international players. New manufacturing facilities are being built, offering highly persuasive arguments in favor of continued political support. Public and media support for solar PV is strong, especially since the introduction of the rooftop PV program in June 2009. "After years of promises, I really believe Greece is now ready to become a major PV market in the world," says Stelios Psomas, a leading Greek PV consultant and author of the market report "The Greek solar PV market, the next Mediterranean PV tiger".
Solarplaza and Stelios Psomas, following consultation with the Greek government, published the market report this week. It includes a detailed description of the market status and forecasts, regulation, procedures, supply chain data and all relevant information for companies looking for new PV business opportunities in Greece.
More information is available at shop.solarplaza.com .