Energy oversupply, technical losses and lack of electrical space are the major challenges of the renewable energy market, which, according to diaNEOsis, is the most spectacular development the Greek economy has shown in recent years.
The estimated amount of investments in the last five years in RES unit projects, accompanying projects and infrastructure and network projects reached 9.5 billion, the nonprofit research organization states in its new analysis on the significant challenges and prospects of the penetration of RES in domestic electricity generation.
The analysis highlights the issue of energy cuts as one of the biggest challenges of the RES market, which the market itself and the stakeholders involved recognize. In Greece, 860 gigawatt-hours of green energy were cut in 2024 due to reduced storage capacity, a figure that corresponds to 3.3% of total electricity generated from RES in the same period and is more than double the figure in 2023.
Regarding technical losses, it notes that a better designed network of stations and substations for the needs of RES and more frequently adapted to new needs could limit their extent. The report also points out that significant capacity problems are recorded in almost a quarter of the high-to-medium voltage transformers of electricity distribution network operator DEDDIE: Out of a total of 453 transformers, 29 have exhausted their thermal margin, 82 have exhausted the short-circuit level margin and five have exhausted both margins.
The total capacity of operating RES is 15 GW, while the capacity of the existing electricity transmission system is estimated at 28 to 30 GW. From 2019 to 2024, the increase in energy production from RES, excluding hydroelectric power, indicates an average annual growth rate of 15.6%.
In 2024, most (55.3%) electricity demand in Greece’s interconnected system was covered by RES. Total net production exceeded electricity demand by 307 megawatt-hours in 2024. Simply put, the need for imports was zero last year and theoretically Greece could export a marginal surplus, approximately 0.6% of demand.