Who are the key players in Greece Solar Energy Market?

Hellenic Petroleum Renewable Energy Sources S.A., meeco AG, Juwi Holding AG, MECASOLAR and JinkoSolar Holding Co., Ltd. are the major companies operating in the Greece Solar Energy Market. Read More

What years does this Greece Solar Energy Market cover, and what was the market size in 2023?

In 2023, the Greece Solar Energy Market size was estimated at 5.41 gigawatt. The report covers the Greece Solar Energy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Greece Solar Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Greece Solar Energy Market Size

Market Size of Greece Solar Energy Industry

Study Period	2019-2029
Base Year For Estimation	2023
Market Volume (2024)	6.09 gigawatt
Market Volume (2029)	10.34 gigawatt
CAGR (2024 - 2029)	11.17 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Greece Solar Energy Market Analysis

The Greece Solar Energy Market size in terms of installed base is expected to grow from 6.09 gigawatt in 2024 to 10.34 gigawatt by 2029, at a CAGR of 11.17% during the forecast period (2024-2029).

Over the medium term, the market is likely to be driven by factors like growing demand for solar photovoltaic installations, growing investments in ongoing and upcoming solar energy projects, and the government's efforts to reduce the use of fossil fuels to make electricity.
On the other hand, increasing wind energy installations to provide renewable electricity in the country is expected to restrain the Greece solar energy market.
Nevertheless, as per the European Union's National Energy and Climate Plan (NECP), by 2030, Greece's electricity mix will likely surpass 61% renewable sources. This factor will create several opportunities for the Greece solar energy market.

Greece Solar Energy Industry Segmentation

A solar energy plant converts solar energy into thermal or electrical energy. Solar energy is one of the cleanest and most abundant renewable energy sources. It offers several applications, including generating electricity, providing light or a comfortable interior environment, and heating water for domestic, commercial, or industrial purposes.

The Greece solar energy market is segmented by development. By development, the market is segmented into ground-mounted and rooftop solar. For each segment, market sizing and forecasts are calculated based on installed capacity.

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Greece Solar Energy Market Size Summary

The Greece solar energy market is poised for significant expansion over the forecast period, driven by increasing demand for solar photovoltaic installations and substantial investments in solar projects. The government's commitment to reducing fossil fuel dependency and enhancing the renewable energy mix is a key factor propelling this growth. Ground-mounted solar systems, benefiting from Greece's abundant solar radiation and lower land costs compared to Northern Europe, are expected to attract considerable investments. Initiatives like the Amynteo Cluster II and the EUR 200 million subsidy scheme for solar projects further underscore the country's focus on expanding its solar capacity. The national energy plan's ambitious targets for solar PV capacity by 2030 highlight the potential for new investments and opportunities in the market.

Despite the promising outlook for solar energy, the market faces challenges from the rapid growth of wind energy installations, which are becoming a dominant force in Greece's renewable energy landscape. The government's strategic focus on wind energy, including significant offshore wind development plans, is likely to restrain the solar market's growth. The wind energy sector has been expanding faster than solar, supported by favorable policies and substantial investments. This dynamic suggests a competitive landscape where solar energy must navigate the increasing prominence of wind energy, potentially impacting its growth trajectory in the coming years.

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Greece Solar Energy Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Solar Energy Installed Capacity and Forecast, till 2029
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
    1. 1.5.1.1 Demand for Solar Photovoltaic Installations
    2. 1.5.1.2 Growing Investments
  2. 1.5.2 Restraints
    1. 1.5.2.1 Increasing Wind Energy Installations
6. 1.6 Supply Chain Analysis
7. 1.7 PESTLE Analysis
2. MARKET SEGMENTATION - BY DEVELOPMENT
1. 2.1 Ground-mounted
2. 2.2 Rooftop Solar