Over the past three years, the Greek solar market has set three consecutive historical records for new annual installed capacity. Specifically, in 2024, it closed with a remarkable new capacity of around 2.5 GWp, approaching a cumulative 10 GWp in Greece. With approximately 1 kWp of installed capacity per capita and even higher solar energy production indicators compared to other major European markets, Greece is part of the club of strong countries in per capita figures.
Despite rapid growth, these impressive capacity increases haven’t translated into a healthy development of the photovoltaic sector. The issue lies in the mix of projects that keeps us away from optimal European practices. In 2024, large ground-mounted photovoltaic projects dominated, making up the overwhelming majority of the total new installed capacity. Residential photovoltaics remained at a low level of 100 MWp, while self-consumption systems in professional and commercial applications didn’t exceed 300 MWp. With 400 MWp installed on rooftops in Greece last year, the share of self-consumption projects, which reached 16% in 2024, is alarmingly low, especially considering that the corresponding European average exceeds 50%. The total self-consumption capacity reached 850 MWp in 2024, which is unfortunately a single-digit percentage of the total market and clearly falls short of expectations.
This asymmetry in the Greek market is expected to worsen further in 2025, where it seems the market will set a fourth consecutive record for annual installed capacity, ranging from 2.5 to 3 GWp. However, the self-consumption market, which is still trying to find its rhythm after the "clumsy" transition from net-metering to net-billing, is expected to decline by 10% overall in the residential and commercial sectors, recording around 350 MWp. This is the main reason why the majority of companies in the sector cannot celebrate the rapid growth of 2024 and the positive outlook for 2025.
The green transition and the further integration of photovoltaics into the energy mix aim not only at the shift from fossil fuels to green energy but also at the benefits of decentralized production, bringing energy production to the rooftops of buildings, right above consumption, and reducing network and energy transport losses. This also enables individuals and businesses to make sustainable investments on their roofs, reap the immediate benefits of photovoltaics and storage, and free themselves from energy cost fluctuations. Especially in commercial applications, direct investment in photovoltaics combined with storage is the safest way for businesses to gain long-term competitiveness for their products and services. Finally, small and medium-sized installations in residential and commercial applications provide the greatest added macroeconomic value to the country, stimulate the economy more efficiently, democratize energy production, and create the most jobs per installed capacity.
We hope the industry’s development strategies will follow the example of mature European markets, with a greater focus on supporting photovoltaics on residential and commercial rooftops in Greece in the near future.
