New Incentives Program to Promote PV Investments in Greece

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The new FIT is set at 0.55 €/kWh. It is guaranteed for 25 years and is adjusted annually for inflation (25% of previous year’s Consumer Price Index). An annual regression of 5% is foreseen for newcomers as of 2012, and no cap has been set.

Residential users do not have to be registered as “a business” with the tax authorities and are exempt from any tax (with the exception of the 19% VAT paid for the initial investment). To be eligible for this FIT, a residence has to cover part of its hot water needs by some other renewable source (e.g. solar thermal).

The new Greek incentives program comes on the back of a new PV law in Greece which was passed in January of this year. Well received by the Hellenic Association of Photovoltaic Companies, the new law introduces a FIT for all PV projects, plus a 40% grant for projects with a minimum investment of €100,000.

For additional information:

http://www.helapco.gr/