Renewable energy in Greece is the path to economic recovery. The wind and solar energy potential is among the highest in Europe. Wind energy production could exceed domestic energy needs and thus be exported to neighboring countries. Irradiation, the measure of the Sun’s power, is second only to Spanish semiarid lands. This makes solar investments in Greece both environmentally sound and financially attractive.
Greek companies active in the solar thermal business have already marketed their products internationally. Now, a new market springs up from off-shore wind. Greece is a maritime country and can provide high-quality design and engineering solutions for off-shore wind. Using proper information channels and flexible co-operation, Greek shipyards can become the Mecca of deep-sea support structures.
Shortcomings Multiple services are involved in RES project licensing, resulting in up to five-year delays. This has created distortions such as permit re-sale appreciations and increased corruption in authorities, resulting in market inactivity and failure to substantively preserve the environment.
The recent formation of an independent Ministry of Environment allows for a new, eco-oriented model of public revenue. The nation’s economic activity can recover, amidst the global recession, with the growth of the renewable energy market. It also allows diversifying power production and creating long-term GDP sources.
The anticipated new law creates a ‘one stop shop’ in energy. However, no effort can succeed without creating a credible framework, and Greece has a history of late and poor implementation of important guidelines. The new law still fails to address experimental RES applications and embrace their development. Solar-thermal power plants and pioneer technologies, such as wave and geothermal, are still not supported with equivalent motivation.
Environmental concerns The carbon trading scheme represents a temporary measure to balance excessive emissions. However, industry and fossil energy production in Greece is geared towards carbon-rights purchasing. Apart from the minimal effects in the CO2 emissions reduction, carbon trade discredits the value of permanent measures and long-term environmental strategies. Every medium-to-large energy consumer should be driven to partially balance their energy demands. The balancing must primarily include internal energy savings through sustainable production processes subsequently compensated by implementing RES solutions.
Green certificates Another path to increasing green investment is to tax emissions and pollutants production. Large polluters that are unable to balance their emissions because of the nature of their activity could be aided to meet the emission ratios by purchasing green certificates.
A green certificate represents a certain amount of pollution prevented. A database of footprint-negative activities has to be created, and green certificates will be issued to their holders. Environmental impact estimates should internalise the cost of all resources used while exerting the activity at hand. Green certificates will then represent the accomplished preservation of a natural resource. Green certificate trading and carbon reporting will result in the consolidation of a polluters’ list and compel companies to reduce their environmental footprint even further.
