Supporting schemes for renewable energy sources and their impact on reducing the emissions of greenhouse gases in Greece

For Greece the target set by the Kyoto Protocol foresees an increase of greenhouse gases (GHG) emissions by up to 25% for the period 2008-2012, always with respect to 1990 levels. Apparently it is hard to achieve this target, because the current trend of emissions leads roughly to doubling the rate of increase, than to reducing it. Consequently, further support actions are required, in order to enhance the effort needed so that the country will manage to fulfill its commitments. The present paper aims at the evaluation of the existing situation and the suggestion of further actions required in the energy sector, and particularly in the exploitation of renewable energy technologies (RETs), in order to achieve the obligations that Greece has undertaken as far as the reduction of GHG emissions is concerned, in accordance to the European and international Greek commitments. The current analysis is based on the recent available data from official Greek institutions such as the relevant Ministries, the Managing Authority of the Operational Programme Competitiveness and related European institutions. Based on the results of the current study the implementation of RETs' investments for the period 2000-2006 is estimated to cover, at best, 50% of the share corresponding to the energy sector for the national target of reducing GHG emissions. In order to achieve to a full extent the target up to 2010, an additional investment cost of some 740 M€ will be needed.