The installed capacity of renewable energy sources (RES) in Greece exceeded 2,500 megawatts in 2011 while the photovoltaic system sector grew considerably in the same period, according to a study by Hellastat, a private surveying company. Nevertheless, RES still account for a comparatively small share of the country’s energy production.

The report for 2011 showed that renewable sources contributed no more than 5 percent to the country’s power output, as the total production of RES – not including large hydroelectric plants – came to 2,535 gigawatt-hours. This did however represent a notable 24.3 percent increase compared to 2010.

Following a law passed in 2010 that accelerated licensing procedures, the total installed capacity of RES plants grew 44 percent in 2011 compared to the previous year, exceeding 2,500 MW. Some 770 MW of installed capacity was added in 2011, the Hellastat survey shows.

Photovoltaic systems registered the biggest increase, as they multiplied their capacity from 198 MW in 2010 to 626 MW the following year. A key factor in that growth was the new guaranteed prices in the electrical energy market that applied from February 1, 2012.

A large share of the growth in solar energy systems has come from the program for the subsidized installation of photovoltaic systems on rooftops. In 2011 no fewer than 11,700 project applications were accepted and implemented, offering 102 MW, while the capacity of photovoltaic systems in agricultural spaces amounted to 8 MW.

The dominant role in the RES sector still belongs to wind parks, which also showed a rise in 2011: Their share of the sector came to about two-thirds, with their capacity adding up to 1,636 MW, up from 1,300 MW in 2010, a 26 percent increase year-on-year.

The extent of market’s growth is illustrated by the major 51.5 percent annual increase in the total power of transaction contracts, which at end-2011 amounted to 2,530 MW from 1,670 MW a year earlier. The capacity of the installation permits came to 1,840 MW (up 10 percent in a year) and of the production permits to 2,600 (up 51 percent).

Despite the adverse economic environment, 2011 also saw the implementation of several new projects for the construction of RES plants, as the sector’s turnover grew by 36.8 percent to 635.61 million euros. Two-thirds of companies (65 percent) saw their revenues rise from 2010.