Assessing the PV business opportunities in Greece

Greece, as a member of the European Union (EU), has undertaken the obligation to meet the expected goals for the penetration of Renewable Energy Sources (RES) in the national energy balance in compliance with “20-20-20” goals (20% of the Gross Energy Consumption and 40% of the Gross Electricity Consumption should be covered by RES). Although the development of RES, and particularly of Photovoltaic (PV), in Greece during the last years has presented a satisfactory growth, the country is still far away from the above goals. The main reason for this delay is that - except the financial crisis - many licenses are inactive and waiting funding in order to be utilized. Additionally, the latest law (L.4152/2013) has forbidden the interconnection of new PV power Plants to the grid until the end of 2013. The above fact determines the significance of the existing PV Licenses in achieving the national goals. The aim of this paper is to present an integrated approach of qualitative judgments for the PV business opportunities through the assessing of the licenses' value in Greece. The approach, which is based on a Multi Criteria Decision Making (MCDM) theory of quantifying multiple qualitative judgments, takes into account the real factors which can affect the expected production and cost of the PV installation and therefore the RoI (Return of Investment).