Roof-mounted solar panel subsidies offer major benefits

A new subsidy support program for roof-mounted solar panels, announced by the energy ministry yesterday, promises considerable, bigger-than-expected rewards for households and farmers.

A small 3-KW solar panel system costing 11,500 euros, for example, can offer benefits worth a total of 22,000 euros over a 25-year period, the duration of supply agreements, bigger 5-KW systems costing 13,500 euros promise to offer benefits of nearly 40,000 euros, while 7-KW systems costing 17,000 euros can offer rewards totaling 65,000 euros over a 25-year period, energy consultant Stelios Psomas has determined in an analysis for energypress.

The energy ministry’s support package for roof-mounted solar panel installations offers high-level subsidies for households and farmers, up to 100 percent cost coverage for batteries, as well as simplified application procedures.

The support package’s overall cost benefits for four separate categories, based on annual electricity usage levels, are far bigger than initial estimates that had been based on a preliminary announcement, concerning the program, a few months back.

Roof-mounted solar panel subsidy coverage for the four categories ranges from 70 percent for lowest-level annual electricity usage levels of up to 4,500 kWh and 40 percent for annual electricity usage levels of 15,000 kWh and over.