The cabinet approved the first state subsidy scheme for energy storage systems at existing renewable energy parks and net billing installations, the energy ministry announced Thursday.
Energy Minister George Papanastasiou said after the cabinet meeting that the scheme’s first phase, worth 35 million euros in subsidies, would be implemented initially, followed by a second phase with an additional 5 million euros.
“The scheme aims to increase renewable energy penetration in our country’s energy mix through the installation of energy storage systems”, the minister said.
Applications for the scheme will be accepted from January 15, 2025, with stored energy to be sold through competitive bidding procedures.
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