What will happen with Greece’s (EU’s) plan of 20/20/20 with the current development of the nations’ finance? Are solar investments still feasible, when country is in such debt and the investments heavily dependent on the feed-in tariffs?

Greece  and Energy

Greece, EU’s most southern country coulbe be one of the cornerstones of solar energy producing members. However “energy production in Greece is dominated by the Public Power Corporation (known mostly by its acronym ΔΕΗ, or in English DEI). In 2009 DEI supplied for 85.6% of all energy demand in Greece. Almost half (48%) of DEI’s power output is generated using lignite, a drop from the 51.6% in 2009. And another 20% from natural gas.” (Wikipedia)

Lately IEA called Greece on energy market transformation to support economic development.

The International Energy Agency has called on Greece to reform its electricity and gas markets to help “add efficiency and dynamism” to the Greek economy.

The envisaged reforms are fundamentally sound and can help the economy grow. The government’s key focus should now be on implementing this law in full without delay

It said that government increases to feed-in tariffs to support renewables were “very welcome,” as were simpler licensing procedures.   Platts 27/10/2011

A country’s debt is heading to 180% of GDP by 2020 if the Eurozone will not intervene on time.

Taking into account the rate they are borrowing money at, they have to have the most costly feed-in tariffs.

* Greece has 10 million barrels of proved oil reserves as of 1 January 2011.