Επιχειρηματικότητα και ενεργειακή απόδοση
Entrepreneurship and energy efficiency

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Abstract
This master’s thesis, titled “Entrepreneurship and Energy Efficiency in Greece,” focuses on the
role of Renewable Energy Sources (RES) in the Greek energy market, with a particular
emphasis on two wind farms and three photovoltaic (PV) projects. The study examines the
importance of entrepreneurial activity in the RES sector and analyzes its contribution to
energy efficiency and sustainability.
In the theoretical part, the framework surrounding RES is presented, including definitions of
wind energy and PV systems, as well as their historical development both in Greece and
globally. This section provides an in-depth analysis of RES evolution, considering
technological, economic, and policy dimensions. Data for the year 2023, the last fully
recorded year, are also discussed, along with projections for the future trajectory of RES in
Greece.
The empirical part focuses on collecting and analyzing data related to energy production from
the projects under study, trends in the average market price of energy, initial investments,
total operating expenses, and estimated net revenues. Furthermore, it includes an evaluation
of the payback period for the initial investment and the calculation of the Levelized Cost of
Energy (LCOE), offering valuable insights into the economic viability and efficiency of the
projects.
This thesis aspires to contribute to the literature on entrepreneurship and energy efficiency
in the RES sector by providing valuable information and quantitative data for assessing the
economic and environmental value of renewable energy projects in Greece.