1. Why Photovoltaics are worthwhile in Greece

Photovoltaics has developed in Greece into one of the most attractive and lucrative investments, not only for Greek citizens. This investment opportunity is realizable for everyone in Greece, and much more importantly, everyone can enjoy all the benefits and achievable profit distributions resulting from this investment in Greece.

1.1. Advantages of an Investment in the Photovoltaic Sector

Who would not want to secure a steady monthly source of income long-term, which

is financed by the single application of all investment costs at the beginning of the project planning, and in return secures returns continuously on a monthly basis for at least 20 years,
is associated with comparatively low maintenance costs over the entire lifespan
neither requires the use of one’s own labor for the operation of the business nor requires the hiring of personnel
and does not require the permanent presence of the entrepreneur himself or on-site management …..

The solution is Photovoltaics in Greece.

1.2. Specific Features of Greece as an Investment Location

It all begins with what Greece is generally first associated with: the sun. The secret lies in using sunlight to convert it into energy. More precisely, electricity is produced from sunlight. And this electricity is sold to the Greek electricity authority at prices agreed upon firmly in advance. The generally known strong solar radiation in Greece is a guarantor for the success of the investment and makes earning money easy.

Compared to other countries, Greece still offers relatively high feed-in tariffs.

The legally provided procedure for obtaining a generation permit has also proven effective in Greece. Detailed information on the licensing procedure can be found among the most frequently asked questions under the link Establishment of Photovoltaic Systems in Greece. The initial difficulties that occurred elsewhere were recognized, and different solutions were chosen to avoid the sometimes fatal consequences for project development. For example, in other countries, investors and project operators obtained a generation permit, proceeded with the installation of the photovoltaic system, only to find after the installation that the local authorities refused to conclude the feed-in contract.
The reason: the prerequisites for connection were not met, or the costs for the connection were disproportionately high compared to the investment.
The consequence: the project ultimately could not be realized, despite having incurred large investment sums.

In Greece, these sources of danger were taken into account in the legal licensing procedure and accordingly eliminated to circumvent irreparable consequences and damages for investors and project operators. Accordingly, current legislation mandates the obligation to obtain a so-called Connection Offer for the cases just mentioned. This constitutes an indispensable prerequisite for project realization and must be obtained before the Installation Permit is issued. Thus, this framework checks whether the conditions for a connection are met at the desired installation site. This prerequisite is intended to ensure that no installation permits are issued without the connection possibilities being available at all.

This prerequisite represents only one of the specific features of the relevant Greek legislation, which is intended to guarantee investors the greatest possible degree of security for the realization of the investment. Fundamentally, the Greek procedure, determined and regulated by the relevant national laws, is characterized by transparency, security, and efficiency. In particular, the changes to the legal provisions that have occurred in the last three years have improved, simplified, and accelerated the procedure for the permits in question in favor of the permit holders and investors. The Greek regulatory authority RAE also contributes significantly to this outcome.

A total of 900 MW is to be released shortly for Greece. The quotas are therefore far from exhausted, and the resulting investment opportunities are obvious to everyone.

PV Systems in Greece offer lucrative returns even with small investment sums

Furthermore, it must be pointed out at this point that investors also have the possibility to achieve very lucrative profits long-term with only a small proprietary investment sum. This possibility exists even with very small systems, for which – and this is particularly important – one is not even subject to a licensing procedure. A small project with a 10kW rooftop system is fully financed, so that the risk can be significantly minimized.

A very great advantage, which naturally makes the investment in a photovoltaic project in Greece particularly appealing, is the possibility for the investor to obtain an exemption from Value Added Tax (VAT) for all module and material costs. The tax exemption is granted by the competent tax office. Overall, it is therefore worthwhile to operate photovoltaics in Greece. And since the sun never sets in Greece, everyone can have their place in the Greek sun …

(Status: January 2013. All information is provided without warranty or liability.)