Should Greece invest in energy storage facilities?

Currently there is a growing interest for investments in storage facilities in Greece. Licensed projects mostly consist of Li-ion battery energy storage systems (BESS), either stand-alone or integrated in PVs, as well as PHS facilities .

How much does electricity cost in Greece?

All these components combined determine the final retail electricity price that end-users pay. Eurostat data (for 2022) showed Greek household electricity prices (excluding taxes) ranged roughly €0.34–€0.42/kWh depending on consumption band – among the higher in the EU, due to heavy reliance on imported gas at the time.

How long should energy storage be in a Greek power system?

Considering the energy arbitrage and flexibility needs of the Greek power system, a mix of short (~2 MWh/MW) and longer (>6 MWh/MW) duration storages has been identified as optimal. In the short run, storage is primarily needed for balancing services and to a smaller degree for limited energy arbitrage.

How will dynamic pricing affect Greece's electricity market?

As the energy landscape evolves (with more PV, wind, storage, and interconnections coming online), dynamic pricing is expected to play a crucial role in Greece’s electricity market, providing both economic and grid stability benefits.

Will Greece install 900 MW of storage by 2030?

According to the Greek National Energy and Climate Plan (NECP), the nation aims to install 4.3 GW of storage by 2030. Thus far, 900 MW has been allocated via the Greek Regulatory Authority for Energy, Waste, and Water (RAAEY) tenders. Therefore, the remaining share would be delivered under the new plan but without any subsidy support.

What is the tax on electricity in Greece?

Excise Tax: A small tax on electricity consumption (pursuant to EU Energy Tax Directive) – in Greece this is minimal for households (on the order of €0.0022/kWh in 2022, labeled as an “environmental” or “special consumption” tax).