Electricity in Greece in 2023/2024

In the past 12 months, from October 2023 to September 2024, Greece has shown a promising shift towards low-carbon electricity generation. More than half of the country's electricity—approximately 52%—comes from clean energy sources, primarily solar, wind, and hydropower. Solar energy accounts for nearly 22%, while wind also contributes around 21%, making these the major pillars of Greece's low-carbon electricity. Hydropower adds another 8.5%. However, Greece still relies on fossil fuels for a significant portion of its electricity, with gas constituting almost 39% and coal about 7%. Net imports cover a small fraction, around 2%, of the total electricity demand.

Suggestions

To further increase its low-carbon electricity generation, Greece should continue to expand its existing solar and wind technologies, given their current significant contributions. Learning from countries like Denmark, which generates an impressive 61% of its electricity from wind, could provide valuable insights into scaling up wind power. Similarly, Spain and Ireland, with substantial wind electricity shares of 31% and 34%, respectively, also offer models of success. Another avenue for exploration is nuclear energy, as nearby countries like Slovakia and Bulgaria generate more than 40% of their electricity from nuclear power. Emulating these examples could help Greece reduce its dependence on fossil fuels and move towards a more sustainable electricity mix.

History

Historically, Greece has seen fluctuations in its low-carbon electricity generation. Since the early 1980s, hydropower has experienced significant variability, with notable decreases in 1983, 2001, 2007, 2011, 2014, 2017, and 2019, offset by periods of increase, particularly in 2003, 2009, 2010, 2013, 2015, 2018, and 2021. In recent years, Greece has made substantial strides in solar energy, with substantial increases in 2013, 2022, and the 2023/2024 period. Wind energy has also seen a notable uptick in 2020. These developments highlight Greece's ongoing commitment to expanding its clean energy portfolio and decreasing its reliance on fossil fuels.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources