About Greece s new energy storage subsidy project
Greece's new €153.7M subsidy program for C&I battery energy storage. Learn how businesses can benefit and how ACE Battery provides tailored storage solutions to maximize savings and efficiency. Apply by February 28, 2025!
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About Greece s new energy storage subsidy project video introduction
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6 FAQs about [Greece s new energy storage subsidy project]
What is the quota for battery energy storage in Greece?
The quota for the latter is 50 MW. The program is part of the just transition efforts within Greece’s coal phaseout, currently scheduled to be completed in 2026. Grants for the capital expenditure or capex for the battery energy storage systems (BESS) are set at EUR 200,000 per MW.
Will Greece provide a quota for battery projects in 2024?
Before the end of 2024, Greece intends to provide subsidies for standalone battery projects of 200 MW in total via the third auction. The Ministry of Environment and Energy issued a decree determining the available operating power quota.
How will Greece's energy savings scheme work?
The scheme will be backed with funding from Greece’s Recovery and Resilience Facility. A guide to the programme is available on the Ministry’s website. According to the government’s estimates, beneficiaries of the scheme will lower their electricity bills by up to EUR 3,000 per year.
How much money will be allocated to small businesses in Greece?
A total of EUR 100 million in grants will be allocated for micro and small enterprises with the remaining share reserved for medium and large enterprises. All beneficiaries of the program should be existing businesses operating in the territory of Greece and established by June 30, 2024.
What is Greece's battery storage goal?
As part of Greece’s revised National Energy and Climate Plan (NECP), the battery storage goal is set at 4.3 GW for 2030. The final plan will be submitted to the European Commission toward the end of October. The public consultation process was recently completed. There is a strong appetite from investors for storage.
How much a storage system is subsidized?
In both cases, only the storage system is subsidized. The size of the subsidy depends on the company submitting the application – the number of its employees and annual turnover. It is set at 30% of the system cost for large companies, 40% for medium-sized companies, and 50% for small companies.