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Greece targets 80% from renewables by 2030 with 28 GW plus 7 GW storage

greece new 2030 renewables storage targets

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Published

November 15, 2022

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Published:

November 15, 2022

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According to the Energy and Environment minister, Greece’s 2030 revised renewable energy goal is now set at 28 GW plus 7 GW of storage.

Energy and Environment minister Kostas Skrekas announced yesterday that Greece’s revised 2030 goal for renewables share is set at 80% to reduce energy costs and be compatible with REPower EU.

This means that total renewable installations must reach around 28 GW of capacity by that date, up from 25 GW in previous estimations and the current 10 GW. At the same time, the goal for energy storage is more than doubled to 7 GW or possibly even 8 GW from 3 GW.

Total green energy investment at EUR 35 billion for 2030

Skrekas added that in order to succeed, renewables will require about EUR 12-13 billion in investments, while another EUR 7-10 billion will be needed for storage. Together with EUR 10 billion for the modernization and upgrading of the power grid, the total investment is expected to reach around EUR 35 billion.

It should be noted that the Greek government is currently revising the National Energy and Climate Plan (NECP) to reflect the latest guidelines and goals set by REPower EU, the European plan presented in May 2022. At the same time, the new NECP is expected to incorporate goals concerning offshore wind farms, green hydrogen and other new energy technologies.

Greece saves EUR 600 million this year because of RES

Skrekas also mentioned that this year Greece is expected to add 2 GW of new renewables in its system. These plants will produce around 3 million MWh of electricity and will be able to offset 6 million MWh of natural gas consumption. This translates to savings of EUR 600 million, a significant sum at a time of an accute energy crisis in Greece and Europe.

New efforts for net metering and rooftop solar

Last but not least, the minister reiterated his support for the installation of 250,000 subsidized net metering photovoltaics in households, as a measure to address high energy costs for consumers. He also said that until the end of the year there will be a new decree allowing the installation of PVs on pergolas. This has been a long standing request by solar associations, who claim that the measure will increase available space for PVs and benefit consumers and the national economy.

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