The energy ministry has taken a first step towards implementing a new RES program dubbed “Solar Panels on Roofs”, to offer households fixed tariffs of 87 euros per MWh over 25-year contracts, by including a relevant provision to a draft bill designed to adopt EU directives concerning energy efficiency. The bill was submitted to Greek Parliament last night for ratification.

An ensuing ministerial decision will specify conditions and terms, including beneficiaries, the offer’s duration, maximum capacities per installation, the licensing process and necessary supporting documents, as well net metering details.

The program’s 87-euro tariff on offer had been announced through a ministerial decision delivered back in March, 2020.

The energy ministry appears to have decided on setting a maximum capacity of 10 kWp per installation, up from a level of 6 kWp previously noted in a ministerial decision, sources have informed.

A 10 kWp solar panel system remunerated at 87 euros per MWh would generated annual revenue of 1,200 euros. At current prices, installing such a system would cost between 10,000 and 11,000 euros, including VAT, meaning the investment would require approximately eight years to break even before offering an annual income of 1,200 euros for the remainder of the 25-year contract, roughly 17 years.