Feasibility analysis of domestic solar water heating systems in Greece

The excessive usage of fossil fuels has world-widely caused chain environmental consequences. An interesting solution to this problem is the systematic exploitation of available renewable energy sources, including solar energy. Greece is located in a major geographical region with an abundant and reliable supply of solar energy, even during the winter. In as much, one cannot disregard the significant dependency of the country on imported fuels, since almost 70% of its domestic energy consumption is covered by oil and natural gas imports. Despite the relative local sun abundance, during the last 10 years the local solar collectors market illustrates a sluggish behaviour, in comparison with the impressive numbers of sales during the 1980–1990 decade. At a first glance, such an occurrence characterizes a controversy. In an attempt to find a rational explanation of this peculiar situation, an integrated cost-benefit analysis is carried out taking into consideration the vast majority of the parameters affecting solar thermal energy production cost. The resulting numerical values are then compared with the corresponding ones coming from alternative hot-water production techniques. Accordingly, a quite extensive sensitivity analysis is carried out, in order to demonstrate the impact of the main techno-economic parameters on the fiscal behaviour of contemporary solar hot water production systems. The results obtained not only explain with sufficient accuracy the current local market situation but also demonstrate the specific actions that if realized they may boost solar collector sales in the corresponding local market.