Household energy storage project financing options in Greece 2026

Does Greece have a battery storage pipeline?

Greece has emerged as one of the countries with the largest pipeline of battery storage projects, but as yet there has been little activity on the ground. This is changing as the long-awaited storage subsidy auctions have started, with the first projects being awarded support for both investment and operating costs.

Why is Greece launching a battery storage auction?

Initially a response to the COVID 19 pandemic, the focus has pivoted to support Greece’s green energy transition. The storage auctions themselves require further approval under EU State aid rules. The pipeline of prospective battery storage projects now approaches 27GW, with over 500 projects granted a storage license.

Why is Greece launching a storage auction in 2021?

Funding was first announced in 2021 as part of the National Recovery and Resilience Plan. Initially a response to the COVID 19 pandemic, the focus has pivoted to support Greece’s green energy transition. The storage auctions themselves require further approval under EU State aid rules.

Why is Greece focusing on energy storage?

Greece has been actively focusing on energy storage since the emergence of the RES “boom” in 2020. The country recognised the pivotal role of energy storage in the energy transition and emphasised its importance in the first iteration of the country’s National Energy and Climate Plan in 2019.

Why does Greece need gas storage?

The need for storage in Greece will accelerate rapidly over the next decade as renewables targets are revised upwards and coal plants are closed. The pivot to gas, a core part of the country’s energy strategy just a couple of years ago, has been upended by the disruption to supplies and price volatility caused by Russia’s invasion of Ukraine.

What is the long-term business case for storage in Greece?

The long term business case for storage will be supported by increasing interconnection, opening ancillary services and Greece’s accession to the market coupling platforms, but until then, public funding is required to kickstart investment. Funding was first announced in 2021 as part of the National Recovery and Resilience Plan.