Renewable energy in Greece accounted for 29 percent of its electricity from renewable sources in 2021. By 2030, renewables are expected to have a capacity of 28GW, and exceed 61 percent of Greece's electricity consumption.[1] This is a significant increase from 8% of the country's total energy consumption in 2008.[2] By 2022, Greece occasionally reached 100% renewables for a few hours.[3] The target for 2050 is a capacity of 65GW.[4]
The increase in renewables is in part because of a changing regulatory environment. In August 2016, a new renewable energy law was approved that aims to further stimulate renewable energy investments by introducing feed-in premiums, competitive tenders, and virtual net metering.[5] Under the new law, the compensation for renewable energy producers will consist of what they receive in the electricity market plus a variable feed-in premium. The latter is the difference between a price depending on market variables (e.g., the system’s marginal price) and a set price decided via a competitive tender.[5] Furthermore, from the beginning of 2017, the new scheme to approve new renewable energy capacity is based on competitive tenders, where the Energy Minister is able to call on a tender for specific capacities and technologies.[5]
Wind power
[edit]Greece's wind energy capacity in MW per year. x-axis is the year and y-axis is the capacity in Megawatt.
Wind power was due to expand[when?] by 352% by 2010 to meet the European target of 20% coverage of energy needs from renewable sources. Previously,[when?] there were 1,028 wind turbines installed throughout Greece and the number was set to reach 2,587 wind turbines before the end of 2010.[6]
According to the Ministry of Environment and Public Works, the system would have a nameplate capacity of 3,372 MW of power from wind alone[when?] compared to 746 MW at the end of 2006.[7] Greece chose to invest primarily to wind power by 77%, while the rest of renewable sources altogether comprise the remaining 23% of production with hydroelectric power being second with 11%.[8][9]
The Centre for Renewable Energy Sources and Saving (CRES) is the Greek national entity for the promotion of renewable energy sources, rational use of energy and energy conservation.[10]
The solar energy development in Greece started in 2006 and increased substantially from 2009 because of the high feed-in tariffs introduced and the corresponding regulations for domestic applications of PVs on rooftops.[citation needed] However this mechanism overheated the market creating a big deficit of more than 500 million euros in the Greek "Operator of Electricity Market".[citation needed]
From August 2012 new regulations have been introduced including a temporary tax imposed to all operating PV plants (excluding residential applications), licensing of new PV projects have been put on halt and the feed-in tariffs were drastically reduced.[13]
As of December 2013, the total installed photovoltaic capacity in Greece reached 2,419.2 MWp [14] of which 987.2 MWp were installed in the period between January–September 2013 despite the financial crisis.[15] Greece ranks 5th worldwide with regard to per capita installed PV capacity. It is expected that PV produced energy will cover up to 7% of the country's electricity demand in 2014.[16]
Due to Greece's geographical positioning in the world, they are advantageous when its comes to harnessing geothermal energy at high or low temperatures.[21] High temperature geothermal energy is classified by being above 90 degrees Celsius, and low temperature geothermal energy is when temperatures are between 25 and 90 degrees Celsius.[22] High temperature geothermal energy can be located 1-2 kilometers beneath Santorini, Nisyros, and the Aegean Islands of Milos, while low temperature geothermal energy can be located in regions such as Loutra-Samothrakis, Serres, Chalkidiki, Alexandroupolis, Lesvos, Chios, and Thermopyles.[21] Geothermal energy in Greece accounts for only 0.5% of the country's renewable energy, and is expected to increase over coming years.[23]
The amount of biomass that Greece annually produces is estimated to be 2,132,286 tonnes, and this amount comes close to other Mediterranean countries biomass such as Italy and Portugal.[24]Biodiesel is created through such raw materials and around 60% of biodiesel made from Greece originates from oilseeds, 27% comes from used animals fats, frying oils, and vegetable oils, while the last 13% is cotton seeds.[25] Greece's consumption of biofuels is less than 2%, but that percentage is said to increase as years go by because of the large markets and growth potential of biomass and biofuels.[26]
