Greece's Solar Power Crisis Deepens as Revenues Collapse by 50% in 2026

Greece’s solar power sector is facing severe financial strain as revenue losses hit record levels. Overproduction during peak sunlight hours has led to frequent grid overloads, forcing operators to cut back on energy generation. Industry leaders now warn of rising risks, including a potential surge in non-performing loans and market instability. The crisis deepened in April 2026, with average revenues for solar parks above 400 kW dropping by 50% compared to the same month last year. The year-on-year revenue loss in April was double that of March, marking a sharp decline for photovoltaic (PV) plant operators. Grid congestion during sunny midday periods has forced widespread curtailments, reducing the amount of solar energy fed into the system.

Negative electricity prices have become a daily occurrence since early May. For at least four hours each day, prices have hit zero or fallen below, disrupting profit margins. Bulgaria’s practice of importing cheap electricity during the day and reselling it at higher evening rates has added further pressure on local producers. Evangelos Mytilineos, Executive Chairman of Metlen Energy and Metals, has raised alarms about the financial fallout. He estimates that non-performing loans in the sector could reach up to €25 billion. Alexandros Exarchos, Chairman and CEO of Aktor Group, echoed these concerns, warning that ongoing curtailments risk destabilising Greece’s renewable energy market entirely.

The combination of grid limitations, negative pricing, and shrinking revenues has placed solar operators in a precarious position. Without intervention, the sector faces mounting debt and operational challenges. Industry leaders are calling for urgent measures to stabilise the market and prevent long-term damage to renewable energy investments.