Greece Solar Energy Market Size & Share Analysis - Growth Trends And Forecast (2025 - 2030)

Greece Solar Energy Market Trends and Insights

NECP-Driven 2030 Renewable Targets

The 2023 NECP revision requires 82% renewable electricity by 2030 and targets 13.4 GW of solar, nearly double the 7.1 GW installed by the end of 2023. Lignite retirement in 2028 unlocks grid capacity and EU transition funding; Meton Energy’s 940 MW Amynteo cluster secured EUR 127.7 million of NextGenerationEU grants and reached financial close early 2024. Binding EU regulations mean deployment delays could trigger infringement penalties, offering downside protection for investors.

EU & National Auction/FiP Support

Competitive auctions replaced feed-in tariffs, cutting strike prices and granting revenue certainty. Law 5095/2024 awards super-priority interconnection to PPA-backed projects, creating a two-tier market. Between 2023 and 2024, three storage tenders were allotted 700 MW with indexed premiums. Meanwhile, the EIB lent EUR 390 million to DEPA Commercial for an 800 MW solar pipeline at sub-4% rates.^{[2]EIB Communications, “EIB Backs 800 MW DEPA Solar Portfolio,” eib.org}

Rapid Module CAPEX Decline

European module prices fell to EUR 0.10/Wp in Q3 2024, driving utility-scale CAPEX down to EUR 600-700/kW and enabling auction bids below EUR 50/MWh with equity IRRs exceeding 8%. Residential system costs dropped to EUR 1,200-1,500/kWp, sustaining rooftop viability despite the shift to net billing.

Corporate PPA Momentum

Law 5037/2023 unlocked direct PPAs; contracted capacity reached 0.95 GW by end-2023. Meton Energy secured 10-year PPAs for the Amynteo cluster, and EDF signed multi-year deals with Axpo. Industrial users hedged against December 2023 power prices of EUR 0.24/kWh.

Grid Congestion & Curtailments

IPTO curtailed 900 GWh of renewables in 2024 and temporarily disconnected the entire fleet in May 2024 to stabilize the grid. High-voltage direct-current links to Crete (expected to be live by mid-2025) and the Dodecanese (due by 2028) will ease regional bottlenecks; however, developers without storage face 50% revenue caps on curtailment clauses.

Policy Volatility: Net-Billing Transition

Law 5106/2024 replaced net metering with net billing, reducing the value of rooftop solar by 15-20%. A four-month policy gap stalled installations until the EUR 250 million “Photovoltaic at Home” subsidy relaunched demand, yet payback periods stretched to 8-10 years.^{[3] PV Magazine, “Net-Billing Transition Dampens Rooftop Momentum,” pv-magazine.com}

Segment Analysis

By Technology: PV Dominance underpinned by bifacial roll-out

The Greek solar energy market is primarily photovoltaic, with solar PV holding 100% of the Greek solar energy market share and forecasted to replicate the overall 12.75% CAGR to 2030. Large parks are increasingly specifying bifacial, TOPCon, or heterojunction modules rated above 600 W to reduce balance-of-system costs. Heterojunction adoption is expected to accelerate once local-content incentives under the EU Net-Zero Industry Act are implemented, although 98% of 2024 modules were Chinese imports, reflecting the lowest-cost sourcing. Perovskite-silicon tandem cells remain laboratory curiosities, while Brite Solar's pilot line positions Greece on the advanced-module map.

Rapid module deflation is driving Greece's solar energy market size additions toward utility-scale clusters exceeding 50 MW, where EUR 600-700/kW CAPEX enables bids below EUR 50/MWh. Developers such as Juwi Hellas locked in 204 MW of bifacial supply from JinkoSolar to exploit Greece's high albedo soils. Concentrated solar power (CSP) remains underutilized in Greece due to the country's fragmented geography and relatively modest direct-normal irradiance, which tends to disfavor thermal technologies.

Note: Segment shares of all individual segments available upon report purchase

By Grid Type: Grid-tied pipeline outpaces island microgrids

On-grid projects represented 95.7% of the Greek solar energy market in 2024 and are expanding at a 13.10% CAGR, buoyed by IPTO’s interconnection agenda. The Great Sea Interconnector, scheduled to be live in mid-2025, will connect Crete’s 500 MW of diesel-backed solar power to the national grid, thereby erasing its prior off-grid status. Similar dynamics will play out in the Dodecanese once the 1 GW link comes online in 2028.

Off-grid microgrids remain a niche market, accounting for only 4.3% of total capacity. Tilos Island’s 800 kW PV-plus-2.4 MWh battery showcases autonomy where submarine links are uneconomic. Yet, as more islands connect, off-grid demand will shift toward agriculture, remote telecom, and tourism eco-resorts that require energy independence.

By End-User: Residential surge complements utility dominance

Utilities controlled 67.5% of the installed capacity in 2024, driving Greece's solar energy market growth through gigawatt-scale clusters in Western Macedonia and Central Greece. Residential rooftops, although smaller in absolute terms, clock the fastest 15.90% CAGR on the back of a EUR 250 million subsidy and the streamlined Law 5106/2024 permitting.

Commercial and industrial (C&I) users, exposed to EUR 0.24/kWh power tariffs in late 2023, build on-site PV and sign sleeved PPAs to hedge price volatility. Athens International Airport's move to 100% on-site solar-plus-storage exemplifies cost parity with grid electricity. Energy communities pool multiple rooftops, holding 14 MW in 2023 with 50 MW in permitting, bridging household ownership barriers.

Note: Segment shares of all individual segments available upon report purchase

Geography Analysis

Central Macedonia anchors the pipeline, led by Meton Energy’s 940 MW Amynteo cluster that captured EUR 127.7 million in EU funds. Former lignite mines expedite permitting and enjoy social acceptance as coal jobs sunset. Thessaly offers top irradiation but faces land conflicts; local bans have sidelined ~300 MW despite strong grid proximity.

The Peloponnese benefits from low population density and ample substations, allowing projects such as Juwi’s 160 MW park across Fthiotida and Larissa to advance with minimal resistance. Western Macedonia’s transition zones replicate the Amynteo template, packaging EU grants with accelerated access to the grid.^{[4]EGU General Assembly, “Land-Use Conflicts in Greek Solar Deployment,” egu.eu}

Crete’s mid-2025 interconnection halves curtailment risk and unlocks 500 MW of pipeline solar-plus-storage assets. The Dodecanese high-voltage link, budgeted at EUR 1.42 billion, is expected to integrate Rhodes and Kos by 2028, freeing up a further 300-400 MW. Smaller islands, such as Tilos, prove the viability of microgrids, while IPTO’s EUR 5.5 billion plan will reinforce mainland nodes that feed Attica’s demand corridor.

A feasibility study by IPTO and Saudi Arabia’s National Grid examines a submarine link to export excess solar to Middle Eastern markets after 2035, hinting at cross-border revenue options once domestic saturation emerges.