New PV installations are expected to reach a lofty level of nearly 2 GW this year before adjusting to an annual growth rate of about 1 GW thereafter.

Energy consultant Stelios Psomas, speaking at the recently staged Renewable Energy Tech event staged by energypress, noted he expects a robust readjustment, close to annual levels of 1 GW, in the forthcoming years as a result of prevailing market conditions and an increase in RES grid-injection cuts.

An annual PV installation growth rate of approximately 1 GW would still make Greece a major European market, the official noted.

“The market is currently surviving as a result of major projects that secured connection terms in the past and are currently under construction,” Psomas told the Renewable Energy Tech event. “We are a small country with relatively low demand and we still don’t have sufficient interconnections. The market will inevitably calm down a bit from now on, but it will continue growing at a rate of 1 GW, which is still a very good figure,” he added.