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Turkey Solar Photovoltaic (PV) Power Market Outlook 2019 - 2028

Turkey Solar Photovoltaic (PV) Power Market Outlook 2019÷2028 - 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 2019 ÷ 2028...

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: 125
Report production №:
RMWIN3492019355
Delivery:
Up to 24 hours by e-mail
Subscription: In the report price is included subscription for 1 year period with 4 qurterly updates

  • This market report offers an incisive and reliable long-term overview of the photovoltaic sector of the country for the next long term period 2019 ÷ 2028. 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.

    Cumulative installed solar PV capacity in MW in the country increased 20-fold from 2015 to 2018 despite political uncertainty. We have to point out 2018 was another consecutive record year for Turkish solar market with approximately 1.6 GW new solar photocoltaic capacity installed. Turkish market has excellent chances to exceeed XXX GW 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 2018 was challenging year for photovoltaic industry, the time for taking right decisions during 2019 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 2008 ÷ 2028
    • Grid connected photovoltaic installations
    • Future market trends and planned photovoltaic projects for 2019 ÷ 2028
    • 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    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 2008 ÷ 2028 (including forecast) 25
    Chart 2: Turkish GDP Growth Compared to EU-27 for the Period 2008 ÷ 2028 (including forecast) 26
    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 2019 30
    Chart 5: Breakdown of Electricity Production by Source Type in the EU-28 in 2019 (in %) 32
    Chart 6: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2019 (in %) 32
    Chart 7: Average Base Load Electricity Price in Selected European Countries (€/MWh): 2009 – 2019, Renewable Market WatchTM 33
    Chart 8: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 34
    Chart 9: New Installed and Decommissioned Power Capacity by Source Type in the EU in 2019 (MW) 35
    Chart 10: Age of Power Plants in Europe in 2019 36
    Chart 11: Share of New Power Generation Capacities Added in the EU 28 in 2019 (MW) 38
    Chart 12: Annual Installed Power Generating Capacity (MW) and Renewable Share (in %) 2000 – 2019 in the EU  38
    Chart 13: Net Installed and Decommissioned Power Generation Capacity in the EU 28 for 2019 (GW) 39
    Chart 14: Number of Filled Patents for Solar PV Technologies in CEE & SEE Countries 2006 – 2019  44
    Chart 15: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast; Renewable Market WatchTM 45
    Chart 16: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast; Renewable Market WatchTM 46
    Chart 17: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast; Renewable Market WatchTM 47
    Chart 19: Existing and Planned High Voltage Interconnection Power Lines of Turkey with Neighbor Countries 49
    Chart 20: Historical Structure of Power Market in Turkey from 1983 to 2019 50
    Chart 21: Share of RES electricity from Total Installed Power Capacity in Turkey in 2019 52
    Chart 22: Turkey Total Annual Electricity Consumption (in TWh) 2000 ÷ 2019 53
    Chart 23: Turkey Power Generation Capacity Breakdown by Source (Fuel) Type in 2019 53
    Chart 24: Electricity Imports and Exports in Turkey 2008 ÷ 2028 (in TWh) including forecast 54
    Chart 25: Turkish Targets for Renewable Energy Sources by 2023 (in %) set by the State Planning Organization 57
    Chart 26: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants in Turkey (in MW) 2008 ÷ 2028, including forecast 72
    Chart 27: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants in Turkey (in Millions USD) 2008 ÷ 2028, including forecast 72
    Chart 28: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Turkey (in MW) 2008 ÷ 2028, including forecast 73
    Chart 30: Market Prices for Licensed Photovoltaic (Solar PV) Projects in Turkey for 2019 ÷ 2028 in Development, Ready to Build and Operational (Grid Connected) Condition 74
    Chart 31: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Turkey 75
    Chart 32: TURSEFF Structure 87
    Chart 33: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey 93
    Chart 34: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2019  95
    Chart 35: Market Shares by Sales of the Major Electricity Distribution Companies in Turkey in 2019 117

    Table 1: Electricity Prices for Business and Households 55
    Table 2: Support Schemes for RES Generation in the EU Countries and Turkey 59
    Table 3: Regional Distribution of Solar Energy Potential of Turkey 61
    Table 4: Market Prices for Unlicensed Photovoltaic (Solar PV) Projects in Turkey for 2019 ÷ 2028 in Development, Ready to Build and Operational (Grid Connected) Condition 74
    Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Turkey 74
    Table 6: Database with Major Operational, Under Construction and Planned Photovoltaic (Solar PV) Projects in Turkey 77
    Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey 91
    Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey (IRR, NPV, Payback, Benefit-Cost) 92
    Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey 92
    Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Turkey (Pre-tax, After-tax, Cumulative) 93
    Table 11: Crystalline Module Price Trend in 2019  96
    Table 12: Feed-in-tariffs for Electricity from Renewable Energy Sources (RES) in Turkey 110
    Table 13: Additional Incentives to Feed-in-tariffs for Electricity from Photovoltaic (Solar PV) sources in Turkey for Domestic (Local) Procurement Elements 113

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