The Hellenic Association of Photovoltaic Companies (HELAPCO) states that one of the main challenges facing Greece’s energy system is curtailment, which generates significant concern and uncertainty in the sector.

On the other hand, HELAPCO points to grid connection bottlenecks as one of the key obstacles for the photovoltaic sector. The IPTO, Greece’s grid operator, aims to offer connection terms for 28 GW to 30 GW of renewable energy sources (RES) by 2030.

Of this total, 20 GW will be allocated to photovoltaic energy. However, there are over 70 GW of competing applications, according to HELAPCO.

Installed Photovoltaic Capacity

In the first half of the year (H1), Greece installed 900 MW of solar photovoltaic energy, bringing the total installed capacity to 8 GW, according to data provided by the association. In 2023, 1.6 GW were installed throughout the year, suggesting that the 2024 total could surpass last year’s figures.

For wind energy, 97 MW were installed from January to June, reaching a total installed capacity of 5.3 GW.

The latest draft of the National Energy and Climate Plan (NECP) targets 13.5 GW of photovoltaic energy by 2030 and 35.1 GW by 2050. HELAPCO not only expects to meet these targets but also to exceed them.

“We anticipate the real market will reach around 20 GW by that time, as 20 GW are already secured in grid connection offers, of which 8 GW are already connected,” states the Greek Photovoltaic Association, which also expects to reach 13.5 GW in the next two years.

Market Segments

In 2023, Greece led the European market in terms of the percentage of domestic energy generation produced by solar photovoltaic energy, surpassing 17% of its total production. This figure doubled the European average of 8.6% and tripled the global average of 5.4%.

For 2024, the photovoltaic association anticipates this share will increase to approximately 24%.

Regarding installed capacity from January to June 2024 (920 MW), 580 MW came from the Utility Scale segment, 281.9 MW from the Commercial and Industrial sector, and 58.6 MW from the Residential segment.

During the same period in 2023, 640.7 MW were installed, of which 504.8 MW were for the Commercial and Industrial sector, 121.5 MW for Utility Scale, and 14.4 MW for Residential.

Recently, in April of this year, the Greek government abolished the net metering plan for prosumers and replaced it with a net billing scheme, which could impact consumption patterns.

According to the association, of the new connections registered in the first half of 2024, 80% correspond to Contracts for Difference (CfD), while only 20% were for self-consumption. Regarding residential self-consumption systems, 58.4% include batteries, while 41.6% do not.