Law on the Promotion of Renewable Energy – No. 1392/2008
The RES law is the legal basis for achieving emission reductions via increasing the share and uptake of renewable energies (40% by 2020), particularly in the electricity sector. It is amended several times per year to reflect new developments on the European level and adjustments to the most recent state of technology (e.g., in 2012 the tariffs for biogas were changed via amendments).
Key elements are a premium tariff system based on net metering and bonus payments (since 2008), a bonus for renewable energy plant operators on top of market price, not exceeding a statutory maximum per kWh and adjustment of the tariff structure for photovoltaic subsidies in response to the high costs of the rapid uptake of solar panel and PV installations, motivated by falling solar/ PV panel costs.
