The World's #1 Renewable Energy Network for News, Information, and Companies.

Greek Government Proposes More Cuts to Renewable Energy Feed-in Tariff

In a move reminiscent of Spain, the Czech Republic, Australia and even Germany, the Greek government has proposed cuts to the country’s successful Feed-in Tariff (FIT).

On March 8, the Ministry for Environment and Climate Changes issued a draft law on the reform of the FIT under the so-called “New Deal,” in an attempt to lessen the deficit that already exists in the fund the country uses to pay for renewable energy incentives.

Greece uses a FIT to incentivize renewable energy in the country.  Under a FIT, anyone who installs renewable energy systems (RES) on their homes or businesses sells all of the power produced by the renewable energy system back to the utility at an above-market rate under a contract that usually lasts for a period of about 20 years.

In 2013, Greece made changes to its solar PV tariffs. Effective February 2013 through February 2014 PV rooftop systems less than 10 kW were to receive €0.125 per kWh, systems greater than 10 kW but less than 100 kW receive €0.120 per kWh and systems greater than 100 kW receive €0.095 per kWh.  The New Deal would alter those rates not only for new systems going forward but also for systems that are already in place and have existing contracts.

The New Deal would retroactively reduce, by up to 20 percent, the amount due to energy producers for the power that they sold in 2013.  Energy producers would be required to submit an invoice reflecting the reduction in the amount they are due. Going forward, cuts would also be made to the contractual arrangements already in place.

Greek law firm Metaxas & Associates has been retained by a large number of RES stakeholders, both domestic and foreign, to provide legal advice and assistance in forming a targeted strategy to address the legalities of the proposed deal.  According to the firm, there are “serious legal questions” about whether or not the proposal is acceptable under the Greek Constitution “as well as basic principles of European Law both at domestic as well as EU level,” said the firm in a statement.

The measure was given less than one week for public comment and a vote is expected on the New Deal within the next few days.

We will continue to monitor this story and offer updates as they become available.

Lead image: PV farm in Greece via Shutterstock


First Anniversary of The Balkan Floods Highlights Renewable Energy Market Opportunities

Ilias Tsagas, Contributor One year ago this month, severe flooding in Serbia, Bosnia-Herzegovina and Croatia killed 79 people, displaced about half a million and caused economic paralysis of the region. In the wake of these the catastrophic events, ...
Canadian Climate Goals

Canada Announces Weak Climate Target

Danielle Droitsch, NRDC Last week, Canada has announced its contribution to the global effort to reduce greenhouse gases by announcing its post-2020 target. The target announced today is off-track to the 80 percent cut by 2050 they committed to in...
Renewable Energy Stocks

What Drives Alternative Energy Stocks?

Harris Roen, The Roen Financial Report Alternative energy became a serious market player after the turn of the millennium. Since that time, solar, wind, smart grid and other alternative energy stocks have experienced both strong up and down trends. The forces at...
Rooftop Solar Panels

Hypocrisy? While Buffett Champions Renewables, His Company Fights Rooftop Solar

Mark Chediak, Noah Buhayar and Margaret Newkirk, Bloomberg Warren Buffett highlights how his Berkshire Hathaway Inc. utilities make massive investments in renewable energy. Meanwhile, in Nevada, the company is fighting a plan that would encourage more residents to use green power.
Renewable Energy World's network editors help deliver the most comprehensive news coverage of the renewable energy industries. Based in the U.S. and the UK, the team is comprised of editors from Pennwell Corporation's myriad of publications that ...


Volume 18, Issue 3


To register for our free
e-Newsletters, subscribe today:


Tweet the Editors! @megcichon @jennrunyon



Doing Business in Brazil – in partnership with GWEC, the Global Win...

Brazil is one of the most promising markets for wind energy.  Ranke...

EU PVSEC 2015 (European PV Solar Energy Conference and Exhibition)

The EU PVSEC is the largest international Conference for Photovoltaic re...

Virtual Hands On: Sunny Tripower Installation and Commissioning Web...

The Sunny Tripower, the world’s best-selling 3 phase string invert...


EU PVSEC 2014 extends its Scope

Added focus on application and policy topicsAbstracts for conference con...

EU PVSEC 2014: Call for Papers Receives Great Response

More than 1,500 contributions apply for presentation in AmsterdamScienti...

Boulder County Residents Generate Their Own Energy with Community S...

Despite a soggy afternoon, solar energy advocates gathered at ...


Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now