Sunny Greece Grapples with Solar Energy Oversupply
Post# of 106
(Total Views: 50)
Posted On: 06/13/2025 5:51:58 PM
Sunny Greece Grapples with Solar Energy Oversupply
An abundance of sunshine has left Greece dealing with an oversupply of solar energy. Last year, the southeastern European nation drew 23% of its renewable energy capacity from solar, and some experts say the country’s solar energy capacity is growing too fast. With the Greek government planning to achieve 82% renewable energy by the end of the decade, investing in renewables like solar and wind will be key to the country meeting its carbon emission goals.
However, solar maintenance worker Nikos Zigomitros says Greece’s sunny weather could be a detriment to its green energy goals. Solar currently contributes around 10 gigawatts of clean energy to the Greek grid, and the segment has seen speedy growth in recent years. Energy think tank Ember notes that solar energy growth in Greece has already surpassed coal-fired electricity. Several other EU nations have seen significant growth in the solar segment to such a degree that renewables are now responsible for close to 50% of all energy production in the European Union.
At 55% of its energy consumption, Greece uses more green energy than a vast majority of EU and European nations. The country’s capacity for solar is growing, with 2.5 gigawatts of solar electricity going online last year, and Prime Minister Kyriakos predicts that renewables could soon provide 80% of Greece’s electricity, partly thanks to the surge in solar energy production.
Still, SPEF chairman and engineer Stelios Loumakis explains that several factors are complicating Greece’s transition to renewable electricity. This includes the country’s relatively diminutive size, insufficient infrastructure, limited energy storage, and oversaturation in the solar market.
Loumakis says the Greek government caused this oversaturation by approving an inordinate amount of solar projects over the past half-decade, resulting in a significant oversupply of solar energy on notably sunny days. The oversupply is so severe that Greek transmission operator Independent Power Transmission Operator S.A. regularly instructs thousands of solar energy producers to shut down during the brightest hours of the day to prevent them from dumping too much electricity into the grid and causing an outage.
Senior analyst Nikos Mantzaris says that blackouts can be triggered if the balance between electricity demand and supply is off. Greece has started constructing energy storage capacity to store its surplus of solar energy, but it will be years before Greece has enough storage capacity to match the energy it generates from solar. Photovoltaic solar panel operators can also help the country deal with its overabundant supply of solar energy by adjusting output or incorporating energy-efficient storage solutions.
Resolving these challenges will require better grid management, strategic policy reforms, and rapid investment in battery storage solutions. Greece has the solar resources to lead in clean energy but now has to build the infrastructure to support it. With the right measures, the country could turn its oversupply into a powerful renewable advantage.
Where there is a challenge, a corresponding opportunity also opens up. The situation in Greece and many other countries curtailing renewable energy due to oversupply during certain hours of the day presents interesting market opportunities for companies like SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) that specialize in manufacturing solar systems. Their energy storage solutions could just be what is needed to tap the abundant supplies of solar energy in regions gifted with abundant sunlight.
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
An abundance of sunshine has left Greece dealing with an oversupply of solar energy. Last year, the southeastern European nation drew 23% of its renewable energy capacity from solar, and some experts say the country’s solar energy capacity is growing too fast. With the Greek government planning to achieve 82% renewable energy by the end of the decade, investing in renewables like solar and wind will be key to the country meeting its carbon emission goals.
However, solar maintenance worker Nikos Zigomitros says Greece’s sunny weather could be a detriment to its green energy goals. Solar currently contributes around 10 gigawatts of clean energy to the Greek grid, and the segment has seen speedy growth in recent years. Energy think tank Ember notes that solar energy growth in Greece has already surpassed coal-fired electricity. Several other EU nations have seen significant growth in the solar segment to such a degree that renewables are now responsible for close to 50% of all energy production in the European Union.
At 55% of its energy consumption, Greece uses more green energy than a vast majority of EU and European nations. The country’s capacity for solar is growing, with 2.5 gigawatts of solar electricity going online last year, and Prime Minister Kyriakos predicts that renewables could soon provide 80% of Greece’s electricity, partly thanks to the surge in solar energy production.
Still, SPEF chairman and engineer Stelios Loumakis explains that several factors are complicating Greece’s transition to renewable electricity. This includes the country’s relatively diminutive size, insufficient infrastructure, limited energy storage, and oversaturation in the solar market.
Loumakis says the Greek government caused this oversaturation by approving an inordinate amount of solar projects over the past half-decade, resulting in a significant oversupply of solar energy on notably sunny days. The oversupply is so severe that Greek transmission operator Independent Power Transmission Operator S.A. regularly instructs thousands of solar energy producers to shut down during the brightest hours of the day to prevent them from dumping too much electricity into the grid and causing an outage.
Senior analyst Nikos Mantzaris says that blackouts can be triggered if the balance between electricity demand and supply is off. Greece has started constructing energy storage capacity to store its surplus of solar energy, but it will be years before Greece has enough storage capacity to match the energy it generates from solar. Photovoltaic solar panel operators can also help the country deal with its overabundant supply of solar energy by adjusting output or incorporating energy-efficient storage solutions.
Resolving these challenges will require better grid management, strategic policy reforms, and rapid investment in battery storage solutions. Greece has the solar resources to lead in clean energy but now has to build the infrastructure to support it. With the right measures, the country could turn its oversupply into a powerful renewable advantage.
Where there is a challenge, a corresponding opportunity also opens up. The situation in Greece and many other countries curtailing renewable energy due to oversupply during certain hours of the day presents interesting market opportunities for companies like SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) that specialize in manufacturing solar systems. Their energy storage solutions could just be what is needed to tap the abundant supplies of solar energy in regions gifted with abundant sunlight.
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
(0)
(0)