Greece: Parliament approves new taxes on PV
Greece’s Parliament has approved a new tax on revenue generated by renewable energy systems as part of new austerity measures aimed at helping the country reduce its deficit. The tax, approved on 7 November 2012, will be between 25% and 35% on existing solar power plants.
• PV systems installed before 2012 have been assigned a tax rate of 25%
• PV systems built after 1 January 2012 that receive a FiT calculated according to the law 3734/09, article 27A between February and August 2012 onward will be taxed at 27%
• PV systems built after 1 January 2012 that receive a FiT calculated according to the law 3734/09, article 27A before February 2012 will be taxed at 30%
• Revenue generated by other types of renewable energy systems, including wind, biomass and hydroelectric, will be taxed at 10%
• With a decision made by Greece’s Ministry of Environment, Energy and Climate Change, the retroactive tax could get a one year extension
• The tax excludes rooftop systems, as well as PV systems built from 1 January 2012, that receive a FiT calculate according to the law 3734/09, article 27A after 9 August