PV Analysis of the Belt and Road Initiative

Home News & Analysis PV Analysis of the Belt and Road Initiative

PV Demand Analysis of the Belt and Road Initiative: Greece of Southeastern Europe

Greece Country Profile

Greece has an estimated population of 10 million. The country’s economy collapsed in 2008 due to the debt it owned the European Union. After experiencing a nine-year financial crisis, Greece’s economy is recovering and its GDP had grown by 1.505% in 2017, the first positive economic growth since 2008.

The promising signs of growth in Greek economy are also shown in an increase in foreign direct investment and improvement in credit rating. In 2018, the country attracted EUR 3.64 billion of foreign direct investment, a 15% growth compared to 2017. Moody’s, a credit rating agency, also raised the credit rating for Greece to B1. Though the rating grade is still low, the rising economy will lift its credit score in the future.

The climate in Greece is Mediterranean, with summers that are usually dry and winters rainy. The annual solar radiation is around 1800/kWh per square meter.

Renewable energy development in Greece

Greece’s renewable energy market had stagnated due to debt crisis and economy recession, but thanks to the foreign aid and economic reform, Greece has undergone economic revival in recent years. The government is therefore committed to developing renewable energy again.

In addition to generating 20% of power from renewable energy resources by 2020 as stipulated by the EU, Greece’s Ministry of Environment and Energy seeks to source 32.3% from renewables by 2030 under the National Energy and Climate Plan (NECPs) to spur the development of renewable energy.

Under the impact of debt crisis, Greece’s renewable energy market stalled and saw a slack demand for solar. The wind sector also experienced a decline amid persistent demand.

Greece Renewable Energy Installation by Sources (2013-2018)

Greece’s PV policy and development

To meet its renewable targets, the Ministry of Environment and Energy passed Law 4414/2016 in August 2016. The scheme is designed to support the renewable energy sector through feed-in tariff, net-metering, and auction mechanism. Among the renewable energy mix, solar and wind will lead the way. See below table for policy summary:

Greece Policy summary L_4414 2016

As mentioned above, the Regulatory Authority for Energy (RAE) announced in 2018 that it will issue tenders for solar and wind projects with a combined capacity of 2.6 GW between 2018 and 2020. See below table for auction timeframe and progress:

Collated of Greece Auction

In 2018, the capacity addition reached a new high of 41 MW. The solar capacities were installed mostly by projects awarded through auctions as well as some projects from net-metering scheme.  

Greece Solar Installation in 2014-2018

As the projects that were auctioned off last year are expected to start installing systems this year, demand will rise to a higher level than in last year. The market is also going to revive. 

Greece-China trade: Module imports and exports

According to PV InfoLink’s China customs database, the shipment volumes of module stood at 28 MW for January through April this year, surpassing the aggregate volume of 2018. Some of the module imports are likely to be used for projects awarded last July and December. 

Though the current shipment volumes are moderate, module demand is expected to grow in the years to come with anticipated demand from awarded projects as well as the 1 GW of capacity to be allocated for 2019 through 2020.

Chinese Module Export to Greece Shipment in 2018-2019


With Greece’s economy returning to growth, the renewable energy sector was also rejuvenated. Based on the policy roadmap, Greece will mainly push for the adoption of solar through auctions instead of FIT scheme. In terms of demand, the awarded projects and those that are set to be auctioned off will push up demand over 2019 through 2020. The solar market is also expected to see revival this year.

Moreover, the volumes of module shipped between January and April this year have exceeded the total volumes last year. Most of the imported modules are expected to be used for projects awarded through tenders, and demand from which is expected to rise continuously this year.

Looking ahead, there’s a great potential for solar in Greece following the economic recovery. With 1 GW of PV capacity set to be allocated through procurement between 2019 and 2020, Greece is expected to experience a rise in module demand.

Previous Go Back Next

欢迎您光临PV InfoLink网站(http://www.pvinfolink.com,以下简称“本网站”),请您详阅下方的本网站的使用条款、以保障双方权益,若使用本网站则表明您已知悉并完全接受这些条款。

§ 1 免责声明

本网站合法获取信息,并尽可能以可靠、准确、完整的信息为基础,但不保证本网站信息的绝对准确性和绝对完整性,亦不对任何人的市场操作、投资建议负任何责任。PV InfoLink保留随时补充、修订或更改有关信息的权利,但并不保证随时发布。

 § 2 版权声明

本网站中的商标、名称、版面设计、自有文章、图片、图表等内容之版权归PV InfoLink所有。对于内容中所含的版权和其他所有权声明,使用者应予以尊重并在其转载、副本中予以保留。如果网站内容无权利声明,并不代表本网站对其不享有权利,也不意味着本网站不主张权利,使用者应根据诚信原则尊重该内容的合法权益并进行合法使用。

§ 3 转载及链接

本网站出于促进业界同仁思想交流和研究探讨之目的,可能包含转载文章或连接到第三方网页上的链接。转载文章所阐述的观点只代表该作者自身观点,本网站转载并不代表赞成或反对其观点。另外,本网站对外部链接并不负审查义务,不担保其准确性及完整性。在收集原始素材时,PV InfoLink尽可能注明文章的作者和来源,如文章作者或版权所有者对此存有异议,并不希望本网站引用、转载,请联系我们,本网站将立即予以删除。

§ 4 拒绝提供担保




本使用条款之订立、修改、更新及最终解释权均属PV InfoLink所有。若您对于本使用条款或本网站有任何问题或建议,欢迎来信service@pvinfolink.com

Welcome to PV InfoLink website (http://www.pvinfolink.com, hereinafter referred to as “this website”). Please read this terms of use agreement carefully to protect the interests of both parties. By accessing this website, you know and fully agree with these terms.

§1 Disclaimer

Information on this website is legally obtained and is based on reliable, accurate, and complete information. But absolute accuracy and completeness is not guaranteed. We assume no responsibility for anyone’s market operation or investment advice. PV InfoLink reserves the right to add, revise, or alter website information anytime, but information will not be guaranteed to be published all the time. 

§2 Copyright statement

The copyright of trademark, name, website layout, articles, photos, charts, etc. on this website are the properties of PV InfoLink. For the copyright and other proprietary statement contained in the content, users should show the respect and cite sources when sharing the article. If the website has no copyright statement, it does not mean that its contents are not protected. Users should respect the legitimate rights for use based on the principle of integrity.

§3 Share and link

This website may share articles or put subcontractor’s link on this website for the purpose of facilitating peer exchange and research. The point of view for the shared article is author’s own point of view. This website does not represent in favor or against the author’s point of view. In addition, this website does not have an obligation to review external links and does not guarantee its accuracy and completeness. For the collection of original sources, we will try to cite the author and source as much as possible. If the author or copyright owner has any opinions and do not want this website to refer or share their content, please contact us. The article will be removed immediately. 

§4 Refuse to provide warranty

This website does not provide any express or implied warranties, including but not limited to commercial suitability, fitness for a particular purpose, and non-infringement of the rights of others.

This website is for reference only. Users should determine the immediacy and applicability of such information themselves and have to be responsible for any transaction or investment decisions made.

If users conduct trade transactions with other manufacturers through this website, only the user and the manufacturer have a contractual relationship. This website is not involved in it. If the product or service has any flaws or disputes, users will have to contact the contractor. This website will assume no responsibility for such matters.

The making, modification, renewal, and final interpretation of this Terms of Use are the properties of PV InfoLink. If you have any questions or suggestions regarding this Terms of Use or this website, please contact us at service@pvinfolink.com.


PV InfoLink的现货价格主要来自平时与业界的面谈、
但每周根据市场分为略有微调,且加上PV InfoLink专业分析群的市场预测。

PV InfoLink gathers price information from face-to-face/phone interviews and other ways of communication with more than 100 PV companies. We get our average price from the most common transactional data in the market (not weighted average), but prices are slightly adjusted every week according to market conditions. With PV InfoLink’s professional market forecast, we seek the fullness and completeness of the information, but this information is just for reference. We assume no responsibility for anyone’s market operation or investment advice.