Companies are focusing on a series of actions that determine the solar thermal systems market (solar water heaters) for their further expansion in the Greek market.
According to the Hellenic Federation of Solar Industries, the factors that determine the development of the solar thermal systems market over the last years, in addition to the incentives provided by the state, include the relative price/cost of solar thermal systems compared to alternative means of producing hot water, the disposable income of households and possible credit constraints faced by households, as well as the rate of renewal/expansion of the building stock.
Based on the data of a recent study by IOBE “Trends and prospects of the solar thermal systems construction industry in Greece” carried out on behalf of the Federation, the increase in the installation of new solar thermal systems (solar water heaters) in recent years in Greece has been significant. More specifically, newly installed solar water heater systems reached 461,000 in 2023.
The total thermal power generated amounted to 4 GWth in 2023 and they constitute the main means of producing hot water for 35% of households in Greece while a gradual increase in penetration is predicted to reach 49% in 2050. In a more ambitious scenario, the penetration of thermal solar systems in the residential sector could reach 60% in 2030 and 90% in 2050.
