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A “New-Deal” for the Development of Photovoltaic Investments in Greece? A Parametric Techno-Economic Assessment

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  • Panagiotis Anagnostopoulos

    (School of Electrical and Computer Engineering, National Technical University of Athens (NTUA), 9, Iroon Polytechniou Str., 15780 Athens, Greece
    Public Power Corporation Renewables (PPCR), 3, Kapodistriou Str., Ag. Paraskevi, 15343 Athens, Greece)

  • Niki-Artemis Spyridaki

    (Department of Industrial Management & Technology, University of Piraeus (UNIPI), 80, Karaoli & Dimitriou Str., 18534 Piraeus, Greece)

  • Alexandros Flamos

    (Department of Industrial Management & Technology, University of Piraeus (UNIPI), 80, Karaoli & Dimitriou Str., 18534 Piraeus, Greece)

Abstract

The aim of this paper is to identify the financial impact imposed by cost containment measures and especially by the feed in tariff (FiT) reduction upon the profitability of different photovoltaic (PV) investments and the electricity charge faced by consumers. A fully parametric analysis is carried out by varying the following parameters: total installation costs based on their activation date, interest rate for a bank loan, use of a construction subsidy, tax imposition levels, the solidarity surcharge differentiated by the activation and the purchase agreement date and the issuance of credit invoice. During the simulations the simple payback period, the internal rate of return and the profitability index were calculated for the most common investment cases. These were identified through empirical observations on the deployment of PV stations. The profitability of PV stations connected to the medium voltage network were by far affected the most by the cutback while farmers’ PV stations and PV rooftop systems were comparatively less affected. Parameters such as the size of the station and the PV activation date were crucial for the assessment of the viability of PV stations. From a social perspective, the FiT cutback prevented an additional 40% increase in the electricity charge paid by electricity consumers.

Suggested Citation

  • Panagiotis Anagnostopoulos & Niki-Artemis Spyridaki & Alexandros Flamos, 2017. "A “New-Deal” for the Development of Photovoltaic Investments in Greece? A Parametric Techno-Economic Assessment," Energies, MDPI, vol. 10(8), pages 1-25, August.
    • Handle: RePEc:gam:jeners:v:10:y:2017:i:8:p:1173-:d:107648
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    References listed on IDEAS

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    Cited by:

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    2. Spyridaki, Niki-Artemis & Stavrakas, Vassilis & Dendramis, Yiannis & Flamos, Alexandros, 2020. "Understanding technology ownership to reveal adoption trends for energy efficiency measures in the Greek residential sector," Energy Policy, Elsevier, vol. 140(C).
    3. Vassilis Stavrakas & Nikos Kleanthis & Alexandros Flamos, 2020. "An Ex-Post Assessment of RES-E Support in Greece by Investigating the Monetary Flows and the Causal Relationships in the Electricity Market," Energies, MDPI, vol. 13(17), pages 1-29, September.
    4. Stelios Loumakis & Evgenia Giannini & Zacharias Maroulis, 2019. "Renewable Energy Sources Penetration in Greece: Characteristics and Seasonal Variation of the Electricity Demand Share Covering," Energies, MDPI, vol. 12(12), pages 1-20, June.
    5. Rômulo de Oliveira Azevêdo & Paulo Rotela Junior & Luiz Célio Souza Rocha & Gianfranco Chicco & Giancarlo Aquila & Rogério Santana Peruchi, 2020. "Identification and Analysis of Impact Factors on the Economic Feasibility of Photovoltaic Energy Investments," Sustainability, MDPI, vol. 12(17), pages 1-40, September.
    6. Duman, A. Can & Güler, Önder, 2020. "Economic analysis of grid-connected residential rooftop PV systems in Turkey," Renewable Energy, Elsevier, vol. 148(C), pages 697-711.
    7. Michas, Serafeim & Stavrakas, Vassilis & Papadelis, Sotiris & Flamos, Alexandros, 2020. "A transdisciplinary modeling framework for the participatory design of dynamic adaptive policy pathways," Energy Policy, Elsevier, vol. 139(C).
    8. Panagiotis G. Kosmopoulos & Marios T. Mechilis & Panagiota Kaoura, 2022. "Solar Energy Production Planning in Antikythera: Adequacy Scenarios and the Effect of the Atmospheric Parameters," Energies, MDPI, vol. 15(24), pages 1-19, December.

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