Renewables

Prices of photovoltaic panels jump as much as 25% in Greece

Prices photovoltaic panels jump 25 Greece

Photo: Unsplash

Published

September 3, 2020

Country

Comments

comments icon

0

Share

Published:

September 3, 2020

Country:

Comments:

comments icon

0

Share

Global demand, industrial accidents, environmental disasters, exchange rates and the impact of the coronavirus pandemic could all be contributing to a rapid rise in the cost of solar power panels in Greece since the beginning of July. Industry sources reported price hikes of up to 25%.

Investors in solar power in Greece are concerned because of a sharp rise in prices for the equipment in the past two months, reversing the declining trend in the cost of photovoltaic technology registered over the past years, according to a local media report.

Developers told Energypress the jump ranged from 10% to 25%. European firms source almost all solar power panels from China. Respondents in a survey also said suppliers are only scheduling deliveries in the long run as stockpiles are empty. Earlier, it was investors who used to delay purchases, counting on a decrease in prices.

Numerous factors behind delivery delays, price hike

The article points to the boost in global demand, industrial accidents and environmental disasters as well as the dollar’s recent weakening. Of note, experts have warned in March of the disruptions in the supply chain amid the impact of the COVID-19 pandemic and estimated the development of photovoltaic parks would significantly slow this year, so the phenomenon could be behind the rise in prices in Greece as well.

Demand in Greece is particularly high after regulatory reform and the introduction of renewable energy auctions

Conversely, Greece has prompted a rapid expansion in the sector by simplifying regulation and with its renewable energy auctions, underpinning demand. Some of the pressure could be relieved over time as Greece intends to use European Union funds to attract manufacturers of renewable energy equipment.

Investors scramble to meet tariff change deadline

The report cites troubles for those facing tight deadlines to bring their solar power systems online as the tariff for units of a maximum 500 kW is scheduled to be changed on November 26. It adds that some analysts believe costs could resume the decline early next year as they expect delays in projects on an international scale.

Greece may add 200 MW in photovoltaic capacity in the second half of the year compared to 130 MW from the first six months, the media outlet reported separately.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

prosumers rooftop solar grants fbih

Federation of BiH launches grants program for prosumers

20 June 2025 - The grants program is expected to cover around 500 households a year and boost renewable electricity production by 4.2 GWh.

hydrogen slovenia action plan

Slovenia preparing hydrogen action plan until 2030

20 June 2025 - Hydrogen is expected to help Slovenia decarbonize its industry, transportation, and energy.

virtual power plants flexibility aggregation croatia eihp koer solar

Virtual power plants: How they work and who can benefit from extra income

19 June 2025 - Virtual power plants can provide additional income for new electricity producers and consumers who can adjust consumption or store energy.

Dimitar Dimitrov Battery developers should seek insurance in early project stages

Dimitar Dimitrov: Battery developers should seek insurance in early project stages

19 June 2025 - Developers of BESS should engage with insurers or specialized brokers as early as the project development stage, said Dimitar Dimitrov.