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Belarus Photovoltaic (Solar PV) Market Outlook 2019 - 2028

Belarus Solar Photovoltaic (PV) Power Market: Outlook 2019÷2028 - Single User

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Photovoltaic (Solar PV) Power Market in Belarus is expected to grow in the period 2019 - 2028. New feed-in tariffs for solar PV power entered into force in 2015 ...

Update: September, 2019
Format: 1 file(s) (PDF report) in English language and 1 file(s) in MS Excel with data from charts and tables
Author: Renewable Market WatchTM
Pages: 114
Report production №:
RMWIN3502019158
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Up to 24 hours by e-mail
Subscription: In the report price is included subscription for 1 year period with 4 qurterly updates

  • Belarus, a landlocked, generally flat country (the average elevation is 162 meters above sea level) without natural borders, occupies an area of 207,600 km2, or slightly smaller than the United Kingdom or the state of Kansas. Its neighbors are Russia to the east and northeast, Latvia to the north, Lithuania to the northwest, Poland to the west, and Ukraine to the south. Its extension from north to south is 560 km, from west to east is 650 km. The population of Belarus was 9.51 million and the current gross domestic product (GDP) was $59.6 billion as of 2018.

    Belarus solar photovoltaic power market value, which was USD XXX million in 2018, is expected to grow to USD XXX million in 2019, at a CAGR of XXX percent. Renewable energy sources (RES) account for less than XXX percent of the total fuel and energy consumption in Belarus in 2018. The figure is projected to reach XXX percent by 2019. As a net energy importer, the national energy policy of Belarus is focused on maintaining energy security and stability in the country and reducing energy import dependency through increased energy efficiency measures. A new “Concept of Energy Security” came into force on 1 January 2016 and defines the long-term view on the country’s energy sector development. The main priority of Belarus energy policy is to increase energy efficiency and to develop local sources of energy: 80 % of the energy consumption is currently imported.

    Belarusian mobile operator Velcom informed in 2016 about the opening of one the largest solar PV power plants in the country till the moment. It is located Bragin in the southern part of Belarus. This solar PV power plant has 22 MWp capacity and covers an area of more than 41 ha and with 85,000 solar PV modules delivered by Chinese solar manufacturer Risen Energy Co Ltd.

    Belarus is ranked among top 5 countries by attractiveness for solar photovoltaic (PV) energy investments among CIS countries by Renewable Market Watch in their yearly updated "Attractiveness index for solar photovoltaic (PV) energy investments in CIS countries in 2019". The country’s main strategy to meet the growing need of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources, nuclear sources, and connecting to the European power infrastructure and power infrastructure of Commonwealth Independent States (CIS).

    Current cumulative installed photovoltaic (PV) power capacity in the country is XXX MW at the end of 2018 and number of fully permitted and ready to build projects will promptly increase in 2019 and next years. First photovoltaic (PV) power plants have been launched into commercial operation between 2012 and 2018, whilst pipeline of over 230 MW solar power projects are progressing in different stages of permitting process for grid connection by 2020. Feed-in tariff for photovoltaic (PV) energy has been updated in Belarus in May 2015 combined with 20 years PPA period is expected to pave the way for fast further growth of wind energy market in Belarus.

    The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 110 pages of valuable information in this unique in-depth analysis of the Belarus photovoltaic (PV) power market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2017 and 2018 were challenging years for world photovoltaic (PV) energy industry, the time for taking right decisions during 2019 and the next few years is limited. Fast changing market environment requires relevant and accurate information. For your convenience we offer opportunity for orders with customized report content Reasons to buy this market report are, but no limited to:

    • Solar resource potential in Belarus
    • Historical market data provided from 2000 to 2018 and forecasts until 2028
    • Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Belarus (IRR, WACC, Payback, NPV, Cash Flow, etc.)
    • Over 45 charts, tables and maps
    • Overview of Belarus photovoltaic (solar PV) market development 2008 ÷ 2028
    • Development scenario of Belarus photovoltaic (solar PV) sector until 2028
    • Major active and upcoming solar PV power plants in Belarus
    • Current market prices of fully permitted and operational photovoltaic projects
    • Attractiveness index for solar photovoltaic investments in Belarus and CIS countries
    • SWOT Analysis (detailed in 5 pages)
    • Overview of Belarus legal and regulatory framework for RES generation
    • Review of most relevant financing and supporting incentives
    • Project developers, EPC providers and Consultants in Belarus
    • Key organizations and stakeholders affecting development of the photovoltaic sector in Belarus
    • Investment potential and opportunities

    At next pages you will see the full table of content of this report. To order this report just click on the button "ADD TO CART". If you have any other questions please do not hesitate to call us on ++44 203 60 80 138 or write an e-mail to orders@renewablemarketwatch.com

  • TABLE OF CONTENTS    3
    FOREWORD    8
    1    METHODOLOGY AND LIMITATIONS    10
    1.1    Research Methodology    10
    1.2    Limitations    11
    2    EXECUTIVE SUMMARY    12
    2.1    Historical and Current Development Overview of Photovoltaic (Solar PV) Power Market in Belarus    12
    2.2    Belarus Solar Resource Potential    12
    2.3    Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Belarus    13
    2.4    Market Drivers and Constraints    14
    2.5    Recent and Pending Changes in Renewable Energy Law in Belarus    14
    2.6    Market Forecast Summary    15
    3    BELARUS POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS    16
    3.1    Basic Country Data    16
    3.2    Political Climate and Ruling Party    20
    3.3    GDP and Economic Growth    20
    3.4    Taxes    23
    3.4.1    VAT    23
    3.4.2    Income and Corporate Taxes    24
    4    COMMONWEALTH INDEPENDENT STATES (CIS) AND CENTRAL-EAST EUROPE (CEE) POWER MARKET    24
    4.1    General Electricity Market Information    24
    4.2    Photovoltaics (Solar PV) in Energy Sector    31
    4.3    Single Electricity Market of European Union    35
    4.4    CIS States Common Electricity Market (CIS CEM)    37
    4.5    Electricity Market Concept of Eurasian Economic Union    38
    5    COMMONWEALTH INDEPENDENT STATES (CIS)  PHOTOVOLTAIC (SOLAR PV) POWER MARKET    39
    5.1    Market Overview    39
    5.2    Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue    40
    5.3    Annual Installed Photovoltaic (Solar PV) Capacity and Revenue    42
    5.4    Future Development Trends    43
    6    BELARUS POWER MARKET    44
    6.1    Electricity Transmission and Distribution    44
    6.2    Wholesale Power Market Structure in Belarus    46
    6.3    Tariff Regulation in Power Sector in Belarus    47
    6.4    Electricity Consumption and Generation    48
    6.5    Electricity Imports and Exports    50
    6.6    Electricity Prices for Business and Households    51
    6.7    Renewable Energy Sources (RES) Targets    52
    7    BELARUS PHOTOVOLTAIC (SOLAR PV) POWER MARKET    54
    7.1    Why Invest in Photovoltaic (Solar PV) Power in Belarus?    54
    7.2    Belarus Solar Resource Potential    56
    7.3    Licensing Period Duration    57
    7.4    Regional Substation Capacities for Solar PV Power Projects in Belarus    57
    7.5    Overview of Photovoltaic (Solar PV) Power Market in Belarus    57
    7.6    Market Structure Analysis    60
    7.7    Investment Trends and Development Roadmap    60
    7.8    Competitive Environment in Photovoltaic (Solar PV) Power Market    60
    7.9    Profiles of Key Players and Investors in Photovoltaic (Solar PV) Power Market    62
    7.10    Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue    62
    7.11    Annual Installed Photovoltaic (Solar PV) Capacity    64
    7.12    Market Prices for Photovoltaic (Solar PV) Power Projects in Belarus in Development, Ready to Build and Operational (Grid Connected) Condition    64
    7.13    Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Belarus    65
    7.14    Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Belarus    65
    7.15    Key Photovoltaic (Solar PV) Power Projects in Belarus Under Development    66
    7.16    Mergers and Acquisitions    70
    8    DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN BELARUS. SWOT ANALYSIS    71
    8.1    Market Drivers    71
    8.2    Market Drivers Explained    71
    8.3    Market Constraints    71
    8.4    Market Constraints Explained    71
    8.5    SWOT Analysis    72
    9    FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN BELARUS    75
    9.1    Financing Options of Photovoltaic (Solar PV) Power Projects in Belarus    75
    9.1.1    Belarus Sustainable Energy Financing Facility (BelSEFF)    75
    9.1.2    EU4Energy Programme    77
    9.2    Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Belarus (IRR, WACC, Payback, NPV, Cash Flow, ETC.)    78
    10    TECHNOLOGY ANALYSIS    81
    10.1    Photovoltaic (Solar PV) Technology Overview    81
    10.2    Technology Trends    82
    11    CIS COUNTRIES RENEWABLE ENERGY POLICY LANDSCAPE    84
    11.1    RES Regulations and Directives of European Union (EU) affecting CIS countries    84
    11.1.1    Precedent Regulations    84
    11.1.2    EU 2030 Framework for Climate and Energy Policies    85
    11.1.3    EU Energy Roadmap 2050    88
    11.2    RES Strategy for CIS Countries Developed by UN ECE    90
    11.2.1    Development of Educational Activity and Personnel Training    91
    11.3    Renewable Energy Sources (RES) Mandatory Targets for CIS Countries    92
    12    BELARUS RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK    94
    12.1    Main Laws and Regulations    94
    12.2    Support Schemes    95
    12.3    Recent and Pending Changes in Renewable Energy Law in Belarus    96
    12.4    Zoning, Planning and Construction Related Authorizations    96
    12.5    Environmental Related Authorizations    98
    12.5.1    Environment Protected Areas    98
    12.5.2    Clean Development Mechanism (CDM) and Joint Implementation (JI)    99
    12.6    Energy Law Authorizations    100
    12.6.1    Power Generation Licensing    100
    12.6.2    Grid Interconnection and Quota Limitations    101
    12.6.3    Power Off-Take    101
    12.6.4    Feed-in tariff (FIT)    101
    12.6.5    RES Certificates (Guarantees of Origin)    103
    12.7    Future Market Pricing Mechanisms    103
    13    KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN BELARUS    104
    13.1    Government Stakeholders    104
    13.2    Non-Government Stakeholders    107
    13.3    Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s)    107
    14    CONCLUSIONS AND RECOMMENDATIONS    109
    15    LIST OF ABBREVIATIONS    111
    16    REFERENCES    113
    17    DISCLAIMER    115
    APPENDIX I. SOLAR MAPS OF CIS COUNTRIES AND BELARUS    116
    APPENDIX II. CALCULATIONS DESCRIPTION TO FINANCIAL MODEL    117

  • Map 1: Where is Belarus on the CIS Countries Map    16
    MAP 2: Major Transport Corridors Passing Through Belarus    17
    MAP 3: Belarus Administrative Regions Map    18
    MAP 4: The Synchronous Grids of Europe and CIS States  24
    MAP 5: Interconnection Grid Map of Central-East Europe and CIS States    25
    Map 6: Electricity Grid Map of Belarus (750-330-220-110 kV)    44
    Map 7: Solar Resource Map of Belarus    54
    MAP 8: Environment Protected Areas in Belarus    97
    MAP 9: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Europe and CIS countries,     115
    Map 10: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe and CIS Countries    116


    Chart 1: Belarus Real GDP Growth for the Period 2008 ÷ 2028 (including forecast) 21
    Chart 2: Belarus GDP Growth Compared to EU-27 for the Period 2008 ÷ 2028 (including forecast) 22
    Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and Commonwealth Independent States (CIS) 23
    Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and Commonwealth Independent States (CIS) in 2019 26
    Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) Countries and Commonwealth Independent States (CIS), 2019 (in %) 28
    Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2019 29
    Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 30
    Chart 8: Net Power Generation Added Capacities in the EU 28 in 2019 (MW) 31
    Chart 9: Age of Power Plants in Europe in 2019; SolarPower Europe 32
    Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2019 (MW)  33
    Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2019  33
    Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2019 (GW)  34
    Chart 13: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS) 2008 ÷ 2028, including forecast 39
    Chart 14: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Commonwealth Independent States (CIS) 2008 ÷ 2028, including forecast 40
    Chart 15: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS) 2008 ÷ 2028, including forecast 41
    Chart 16: Annual Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) Commonwealth Independent States (CIS) 2008 ÷ 2028, including forecast 42
    Chart 17: Synchronous High Voltage Grids Operation of Power Systems of Belarus, Russia, Estonia, Latvia and Lithuania (BRELL) 43
    Chart 18: Structure of the Power Market in Belarus 44
    Chart 19: Wholesale Power Market Structure in Belarus 45
    Chart 20: Tariff Regulation in Power Sector of Belarus 46
    Chart 21: Share of RES electricity from Total Installed Power Capacity in Belarus in 2019 47
    Chart 22: Belarus Total Annual Electricity Consumption (in TWh) 2000 ÷ 2019 48
    Chart 23: Belarus Power Generation Capacity Breakdown by Source (Fuel) Type in 2019 48
    Chart 24: Electricity Imports and Exports in Belarus 2008 ÷ 2028 (in TWh) including forecast 49
    Chart 25: Belarus Targets for Renewable Energy Sources (RES) by 2030 (in %) 52
    Chart 26: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants in Belarus (in MW) 2008 ÷ 2028, including forecast 62
    Chart 27: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants in Belarus (in Millions USD) 2008 ÷ 2028, including forecast 62
    Chart 28: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Belarus (in MW) 2008 ÷ 2028, including forecast 63
    Chart 29: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Belarus 65
    Chart 30: BelSEFF Structure 75
    Chart 31: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus 79
    Chart 32: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2019 81
    Chart 33: Corporate Governance Structure of Belenergo 107

    Table 1: Electricity Prices for Business and Households 50
    Table 2: Support Schemes for Renewable Energy Sources (RES) Generation in the EU Countries and CIS Countries 53
    Table 4: Market Prices for Photovoltaic (Solar PV) Projects in Belarus for 2019 ÷ 2028 in Development, Ready to Build and Operational (Grid Connected) Condition (2019 Update) 64
    Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Belarus 64
    Table 6: Database with Major Operational (Grid Connected), Under Construction and Planned Photovoltaic (Solar PV) Projects in Belarus 66
    Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus 78
    Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus (IRR, NPV, Payback, Benefit-Cost) 78
    Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus 79
    Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus (Pre-tax, After-tax, Cumulative) 79
    Table 11: Crystalline Module Price Trend in 2019 82
    Table 12: Feed-in-tariffs (FiT) for Electricity from Renewable Energy Sources (RES) in Belarus Commissioned After 20.08.2015 101
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