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Turkey Photovoltaic Market: Outlook 2016÷2025 - Single User

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This market report offers an incisive and reliable overview of the photovoltaic sector of the country for the period 2016 ÷ 2025...

Update: June, 2017
Format: 1 file(s) (PDF report) in English language
Author: Renewable Market WatchTM
Pages: 125
Report production №: RMWIN3492016355
Delivery:
Up to 24 hours by e-mail

  • This market report offers an incisive and reliable long-term overview of the photovoltaic sector of the country for the next long term period 2016 ÷ 2025. Turkey has the sixth-largest electricity market in Europe and one of the fastest growing in the world. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria and Italy, Turkey represents interesting investment environment in South-East Europe with exellent solar irradiation and fair FIT rates.

    Cumulative installed solar PV capacity in MW in the country increased at least 15-fold from 2014 to 2016 despite political uncertainty. Furthermore Turkey's unlicensed solar PV installed capacity grew 230 percent in 2016 compared to 2015 according to Energy Ministry and number of fully permitted and ready to build projects is promptly growing. Turkish market has good chances to reach several GWs cumulative installed capacity in the next 5 years.

    The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 120 pages of valuable information in this unique in-depth analysis of the Turkish photovoltaic market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2016 was challenging year for photovoltaic industry, the time for taking right decisions during 2017 and the next years is limited. Fast changing market environment with falling module prices, requires relevant and accurate information. For your convenience we offer opportunity for orders with customized report content. Reasons to buy this market report include:

    • Overview of the Turkish political and economic environment
    • Solar resource potential in Turkey
    • Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Turkey (IRR, WACC, Payback, NPV, Cash Flow, etc.)
    • Over 55 charts, tables and maps
    • Overview of Turkish photovoltaic market development 1990 ÷ 2025
    • Grid connected photovoltaic installations
    • Future market trends and planned photovoltaic projects for 2016 ÷ 2025
    • Market prices of fully permitted and operational photovoltaic projects
    • Turkish legal and energy regulatory framework for renewable projects
    • Key companies and competitive landscape in photovoltaic sector
    • Review of most relevant financing and supporting incentives
    • SWOT Analysis (detailed in 5 pages)

    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 Turkey    12
    2.2    Turkey Solar Resource Potential    12
    2.3    Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Turkey    13
    2.4    Market Drivers and Constraints    14
    2.5    Mandatory Engineering Measurements for Photovoltaic (Solar PV) Power Projects in Turkey    14
    2.6    Amendments in Renewable Enerrgy Sources (RES) Legislation in Turkey for Unlicensed Market Segment (< 1 MW)    15
    2.7    Market Forecast Summary    15
    3    TURKEY POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS    17
    3.1    Basic Country Data    17
    3.2    Political Climate and Ruling Party    20
    3.3    GDP and Economic Growth    22
    3.4    Taxes    26
    3.4.1    VAT    26
    3.4.2    Income and Corporate Taxes    27
    3.4.3    The Communiqué on Monitoring Implementations of Imports (Solar Tax)    27
    4    CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET    28
    4.1    General Electricity Market information    28
    4.2    Photovoltaics (Solar PV) in Energy Sector    34
    4.3    Single Electricity Market    37
    5    CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) PHOTOVOLTAIC (SOLAR PV) POWER MARKET    40
    5.1    Market Overview    40
    5.2    Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue    41
    5.3    Annual Installed Photovoltaic (Solar PV) Capacity and Revenue    42
    5.4    Future Development Trends    43
    6    TURKEY POWER MARKET    44
    6.1    Electricity Transmission and Distribution    44
    6.2    Electricity Consumption and Generation    47
    6.3    Electricity Imports and Exports    48
    6.4    Electricity Prices for Business and Households    50
    6.5    Renewable Energy Sources (RES) Targets    51
    7    TURKEY PHOTOVOLTAIC (SOLAR PV) POWER MARKET    54
    7.1    Why Invest in Photovoltaic (Solar PV) Power in Turkey?    54
    7.2    Turkey Solar Resource Potential    55
    7.3    Licensing Period Duration    57
    7.4    Regional Substation Capacities for Solar PV Power Projects in Turkey    58
    7.5    Overview of Photovoltaic (Solar PV) Power Market in Turkey    58
    7.6    Market Structure Analysis    62
    7.7    Investment Trends and Development Roadmap    62
    7.8    Competitive Environment in Licensed Photovoltaic (Solar PV) Power Market    62
    7.9    Competitive Environment in Unlicensed Photovoltaic (Solar PV) Power Market (< 1 MW)    64
    7.10    Profiles of Key Players and Investors in Licensed Photovoltaic (Solar PV) Power Market    65
    7.11    Profiles of Key Players and Investors in Unlicensed Photovoltaic (Solar PV) Power Market (< 1 MW)    66
    7.12    Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue    66
    7.13    Annual Installed Photovoltaic (Solar PV) Capacity and Revenue    68
    7.14    Market Prices for Photovoltaic (Solar PV) Power Projects in Turkey in Development, Ready to Build and Operational (Grid Connected) Condition    69
    7.15    Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Turkey    70
    7.16    Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Turkey    70
    7.17    Key Photovoltaic (Solar PV) Power Projects in Turkey Under Development    71
    7.18    Mergers and Acquisitions    75
    8    DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN TURKEY. SWOT ANALYSIS    77
    8.1    Market Drivers    77
    8.2    Market Drivers Explained    77
    8.3    Market Constraints    77
    8.4    Market Constraints Explained    78
    8.5    SWOT Analysis    78
    9    FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN TURKEY    81
    9.1    Financing Options of Photovoltaic (Solar PV) Power Projects in Turkey    81
    9.2    Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Turkey (IRR, WACC, Payback, NPV, Cash Flow, ETC.)    86
    10    TECHNOLOGY ANALYSIS    89
    10.1    Photovoltaic (Solar PV) Technology Overview    89
    10.2    Technology Trends    90
    11    EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE    93
    11.1    RES Regulations and EU Directives    93
    11.1.1    Precedent EU regulations    94
    11.1.2    Most recent EU renewable energy policy developments    94
    12    TURKEY RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK    95
    12.1    Main Laws and Regulations    96
    12.2    Support Schemes    97
    12.3    Mandatory Engineering Measurements for Photovoltaic (Solar PV) Power ProjectS in Turkey    98
    12.4    Competition Regulation (Tender Procedure)    99
    12.5    Zoning, Planning and Construction Related Authorizations    100
    12.5.1    Zoning Plans Procedure    100
    12.5.2    Building Permit (Construction License) Procedure    100
    12.5.3    Operation License Procedure    101
    12.6    Environmental Related Authorizations    101
    12.6.1    Natura 2000 Network    102
    12.6.2    Clean Development Mechanism (CDM) and Joint Implementation (JI)    102
    12.7    Energy Law Authorizations    103
    12.7.1    Power Generation Licensing and Unlicensed Power Generation Below 1 MW    103
    12.7.2    Grid Interconnection    105
    12.7.3    Power Off-Take    105
    12.7.4    Feed-in tariff (FIT)    105
    12.7.5    RES Certificates (Guarantees of Origin)    107
    12.7.6    The Communiqué on Monitoring Implementations of Imports (Solar Tax)    107
    12.7.7    Amendments in Renewable Energy Sources (RES) Legislation in Turkey  for Unlicensed market segment (< 1 MW)    107
    12.8    Additional Incentives for Domestic (Local) Procurement Elements    108
    12.9    Future Market Pricing Mechanisms    109
    13    KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN TURKEY    110
    13.1    Government Stakeholders    110
    13.2    Non-Government Stakeholders    112
    13.3    Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s)    113
    14    CONCLUSIONS AND RECOMMENDATIONS    117
    15    LIST OF ABBREVIATIONS    120
    16    REFERENCES    122
    17    DISCLAIMER    124
    APPENDIX I. SOLAR RESOURCE MAPS OF EUROPE AND TURKEY    126

  • Map 1: Where is Turkey on the World Map    17
    Map 2: Major Transport Corridors Passing Through Turkey    18
    Map 3: Turkey Regions    19
    Map 4: Turkey Electricity Grids Network; Source: TEIAS    46
    Map 5: Solar Resource Map of Turkey    55
    Map 6: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Turkey    57
    Map 7: Hydro Power Plants of EUAS    116
    Map 8: Thermal Power Plants of EUAS    116
    Map 9: Districts Covered by TEDAS and DSO’s    117
    Map 10: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Turkey    126
    Map 11: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Turkey    126
    Map 12: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe    127

    Chart 1: Real GDP Growth for the Period 2000 ÷ 2025 (including forecast)    24
    Chart 2: Turkish GDP Growth Compared to EU-27 for the Period 2000 ÷ 2025 (including forecast)    25
    Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries     27
    Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2016    29
    Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2016 (in %), EuroStat    31
    Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2016    32
    Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW), ENTSO-E    33
    Chart 8: Net Power Generation Added Capacities in the EU 28 in 2016 (MW), WindEurope, SolarPower Europe    34
    Chart 9: Age of Power Plants in Europe in 2016; SolarPower Europe    35
    Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2016 (MW), WindEurope    36
    Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2016, WindEurope    36
    Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2016 (GW), WindEurope    37
    Chart 13: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    41
    Chart 14: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    42
    Chart 15: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    42
    Chart 16: Annual Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    43
    Chart 17: Existing and Planned High Voltage Interconnection Power Lines of Turkey with Neighbor Countries    44
    Chart 18: Historical Structure of Power Market in Turkey from 1983 to 2016    45
    Chart 19: Share of RES electricity from Total Installed Power Capacity in Turkey in 2016    47
    Chart 20: Turkey Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016    48
    Chart 21: Turkey Power Generation Capacity Breakdown by Source (Fuel) Type in 2016    48
    Chart 22: Electricity Imports and Exports in Turkey 2000 ÷ 2025 (in TWh) including forecast    49
    Chart 23: Turkish Targets for Renewable Energy Sources by 2023 (in %) set by the State Planning Organization    52
    Chart 24: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power  Plants in Turkey (in MW) 2000 ÷ 2025, including forecast     67
    Chart 25: Cumulative Revenue of Photovoltaic (Solar PV) Power  Plants in Turkey (in Millions USD) 2000 ÷ 2025, including forecast    67
    Chart 26: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Turkey (in MW) 2000 ÷ 2025, including forecast    68
    Chart 27: Annual Revenue of Photovoltaic (Solar PV) Power Plants in Turkey (in Millions USD) 2000 ÷ 2025, including forecast    68
    Chart 28: Market Prices for Licensed Photovoltaic (Solar PV) Projects in Turkey for 2016 ÷ 2025 in Development, Ready to Build and Operational (Grid Connected) Condition    69
    Chart 29: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Turkey    70
    Chart 30: TURSEFF Structure    83
    Chart 31: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey    88
    Chart 32: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2016 (BNEF, PV news, EU Commission – DG JRC, Roland Berger)    91
    Chart 33: Market Shares by Sales of the Major Electricity Distribution Companies in Turkey in 2016    113

    Table 1: Electricity Prices for Business and Households    49
    Table 2: Support Schemes for RES Generation in the EU Countries and Turkey    53
    Table 3: Regional Distribution of Solar Energy Potential of Turkey    55
    Table 4: Market Prices for Unlicensed Photovoltaic (Solar PV) Projects in Turkey for 2016 ÷ 2025 in Development, Ready to Build and Operational (Grid Connected) Condition     68
    Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Turkey    69
    Table 6: Database with Major Operational, Under Construction and Planned Photovoltaic (Solar PV) Projects in Turkey    71
    Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey    86
    Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey (IRR, NPV, Payback, Benefit-Cost)    86
    Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey    87
    Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey (Pre-tax, After-tax, Cumulative)    88
    Table 11: Crystalline Module Price Trend in April 2017     91
    Table 12: Feed-in-tariffs for Electricity from Renewable Energy Sources (RES) in Turkey    105
    Table 13: Additional Incentives to Feed-in-tariffs for Electricity from Photovoltaic (Solar PV) sources in Turkey for Domestic (Local) Procurement Elements    108