Greek energy storage power station subsidy policy
Greece plans to provide EUR 1 billion in state subsidies to support two solar power projects, with a total capacity of over 800 MW and with integrated energy storage units. The European Commission has given the green light for the subsidies, which will take the form of a two-way contract for difference over a period of twenty years.
As the photovoltaic (PV) industry continues to evolve, advancements in Greek energy storage power station subsidy policy have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
6 FAQs about [Greek energy storage power station subsidy policy]
Should Greece invest in energy storage facilities?
Currently there is a growing interest for investments in storage facilities in Greece. Licensed projects mostly consist of Li-ion battery energy storage systems (BESS), either stand-alone or integrated in PVs, as well as PHS facilities .
How long should energy storage be in a Greek power system?
Considering the energy arbitrage and flexibility needs of the Greek power system, a mix of short (~2 MWh/MW) and longer (>6 MWh/MW) duration storages has been identified as optimal. In the short run, storage is primarily needed for balancing services and to a smaller degree for limited energy arbitrage.
What is Greece's energy policy?
Looking forward, Greece’s energy policy focuses on boosting the use of renewable energy, especially for electricity generation, in tandem with increasing the share of energy demand covered by electricity, especially for transport and heating and cooling.
What is Greece doing to combat energy poverty?
In September 2021, Greece released an Action Plan to Combat Energy Poverty, which gives a quantitative definition of energy poverty and defines a broad strategy backed by specific measures to reduce energy poverty. The social tariff (established in 2010) is the main policy tool to address energy poverty.
How many storage plants are there in Greece?
Currently there are four (4) storage plants operating in Greece, two open-loop pumped-hydro storage (PHS) stations in the mainland (700 ΜW in total) and two small hybrid RES-storage stations in non-interconnected islands (just 3 MW).
What is Greece's recovery and resilience facility (Greece) plan?
The plan (Greece 2.0) is one of the largest funding requests to the Recovery and Resilience Facility (EUR 30.5 billion, equivalent to 16.7% of Greece’s 2019 gross domestic product [GDP]). The plan funds energy efficiency subsidies for residential buildings (EUR 1.1 billion), businesses (EUR 0.45 billion) and the public sector (EUR 0.2 billion).