Greece is blessed with unique lighting resources and is the country with the highest proportion of photovoltaic power generation in Europe. In recent years, the Greek government has actively promoted photovoltaic technology, making it a key force in accelerating the development of new energy power systems. According to data analysis released by the Hellenic Photovoltaic Enterprises Association (Helapco) in February this year, Greece's new photovoltaic installed capacity will reach 1.59 GW in 2023, setting an annual record high and accounting for 74% of this year's new new energy sources. Currently, Greece's national photovoltaic installed capacity reaches 7.1 GW, meeting 18.4% of the country's electricity demand.
It is worth mentioning that Greek photovoltaic power generation has outstanding performance in Europe and even the world. Last year, Greece's photovoltaic power generation accounted for 18.4% of domestic power generation, ranking first in Europe, far exceeding the EU average (8.6%) and the global average (5.4%). As of the end of 2023, 72,500 photovoltaic power generation devices of various specifications and technologies have been installed across Greece, and this number is still growing rapidly. In addition, photovoltaic technology has become one of the cheapest power generation technologies, with the cost of photovoltaic modules falling by 90% since 2009.
With the strong support of the government, the rapid development of photovoltaic technology in Greece has achieved remarkable results. Last year alone, investment in new photovoltaic projects in Greece reached 1.11 billion euros, a year-on-year increase of 11%, adding 15,000 jobs to the country. At the same time, Greece has also launched the largest solar power plant construction project in the Eastern Mediterranean, with a total investment of 130 million euros. The power plant can reduce more than 300,000 tons of carbon dioxide emissions per year. Greek Prime Minister Kyriakos Mitsotakis said at the launch ceremony of the new facility that Greece is committed to becoming a leader in renewable energy.
In addition, Greece is also actively promoting solar energy to enter ordinary people's homes. Starting from May 2023, the Greek Ministry of Energy will launch a "rooftop photovoltaic" subsidy project. Qualified urban residents or farmers can apply online, with a total subsidy amount of 238 million euros. The project aims to reduce the battery cost and photovoltaic system installation cost of electricity users, give residents the autonomy to use electricity, and realize the production and storage of green energy. Applicants to the program can install photovoltaic installations on building roofs, canopies, terraces, facades, awnings and pergolas, as well as on agricultural land and grounds.
Greek photovoltaic production companies are also constantly innovating technologies. For example, Greek solar module manufacturing company Brite Solar is developing photovoltaic greenhouses and bifacial panels that can be used in agriculture. This new technology combines glass coating materials with silicon-based solar cells to not only improve power generation and energy storage efficiency, but also protect crops from harsh weather and reduce water evaporation.
With the support of the European Union, the Greek photovoltaic project has made important progress. In April 2024, the EU approved providing 1 billion euros in state aid to Greece to build solar projects with a cumulative capacity of 813 MW and supporting energy storage facilities. The funds will be used for two key projects: Project Faethon and Project Seli. The former will build two photovoltaic power stations and two integrated molten salt energy storage devices to provide peak shaving auxiliary services; the latter will build a photovoltaic power station and a lithium-ion battery energy storage system to optimize power generation and ensure grid stability .
According to the revised National Energy and Climate Plan (NECP) promulgated in 2023, Greece has proposed ambitious renewable energy development goals. It plans to increase cumulative renewable energy capacity to 23.5 GW by 2030 and 71.7 GW by 2050. Among them, solar energy will contribute the largest share of installed capacity, reaching 14.1 GW by 2030 and 34.5 GW by 2050.