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Solar PV market of CEE and SEE countries to triple to 26.9 GW by 2025

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Between 2010 and 2014, solar PV market of CEE and SEE countries became one of the fastest growing regions in the world according to Renewable Market Watch (a division of Inea Consulting Ltd). In its recently released study update of CEE and SEE Countries Photovoltaic (Solar PV) Market: Outlook 2015 – 2025, Renewable Market Watch reports cumulative installed solar PV capacity in CEE and SEE region has reached 8.81 GW for 2014 and scored remarkable 231 % increase compared to 2010.

Based on IMF estimates of worldwide GDP, CEE and SEE countries are one of the fastest developing regions. GDP growth of CEE and SEE countries has outperformed the EU-28 countries average in 2014 and is forecast to outperform EU-28 GDP again in 2015 and a few years beyond. CEE and SEE countries could be among the leaders in Europe in the field of renewable energy generation, especially in the field of solar photovoltaic power.  

"Cumulative installed solar PV capacity in CEE and SEE region has reached 8.81 GW for 2014 and scored remarkable 231 % increase compared to 2010"

Dr. Ivo Milchev, Head of Research and Analysis Department at Renewable Market Watch, informed that cumulative installed solar PV capacity in CEE and SEE region is expected to triple from 8.81 GW in 2014 to 26.9 GW by 2025 according to latest forecast from CEE and SEE Countries Photovoltaic (Solar PV) Market: Outlook 2015 – 2025.

"Cumulative installed solar PV capacity in CEE and SEE region is expected to triple from 8.81 GW in 2014 to 26.9 GW by 2025"

According to Galin Tranov, Director Business Development North America at Renewable Market Watch, inquiries with expression of interest in CEE and SEE solar market from investors based in North America increased in 2014 with 37 % compared to 2013, and this upward trend continues in 2015 as well.

Geographically all CEE and SEE countries are suitable for the production of photovoltaic energy throughout the whole year. The solar radiation potential on the CEE & SEE countries territory is considerable despite the large differences in the sunlight intensity between the various countries. The average annual sunshine duration is roughly 2,131 hours and the average solar radiation resource is between 1,083 kWh/m2 and 2,214 kWh/m2.

"The average annual sunshine duration in CEE and SEE countries is roughly 2,131 hours and the average solar radiation resource is between 1,083 kWh/m2 and 2,214 kWh/m2"

All of the CEE and SEE countries have mandatory renewable energy capacity targets until 2020 (in some countries beyond 2020), assisting their aims to obtain a share of its power generation from renewable energy sources, including photovoltaic energy. In EU member states these targets are set by the European Commission (EC), whilst in non-EU member countries RES targets are set in the energy strategies or renewable energy action plans.

According to Article 4 of Directive 2009/28/EC all EU member states are obliged to submit National Renewable Energy Action Plans (NREAPs) to the European Commission (EC).  The NREAP sets out how each member state aims to achieve its national target and in the three sectors (electricity, heating and cooling, transport, according to Annex I of the RES Directive).

"All of the CEE and SEE countries have mandatory renewable energy capacity targets"

Further commercial deployment and increase of photovoltaic power plants in CEE and SEE countries is inevitable, and the findings of CEE and SEE Countries Photovoltaic (Solar PV) Market: Outlook 2015 – 2025 reveal that investors are currently have preferences to those countries from the region, which have more predictable and stable legislative and administrative regulations.

It is obvious that the current governments and stakeholders in CEE and SEE region are taking steps towards energy security, including diversification and continuous increase of effectiveness of the energy mix in their countries. Solar power and other renewables shall continue to increase their share from the energy mix of CEE and SEE countries by 2025.

More information about the promising solar market of CEE and SEE countries you may read here:
CEE & SEE Countries Photovoltaic (Solar PV) Market Outlook 2015 - 2025