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Photovoltaic Energy Investments in Serbia 2014

/9th January 2014, RENEWABLE MARKET WATCHTM/ Serbia has an average of about 272 sunny days and about 2,300 sunny hours, which is more than the European average. Annually, the average value of the overall sun radiation for the Republic of Serbia territory ranges from 1,200 kWh/m2/a year in northwest Serbia to 1,550 kWh/m2/a year in southeast Serbia. In comparison, in the middle part, it is about 1,400 kWh/m2/a year.

Serbia has an average of about 272 sunny days and about 2,300 sunny hours, which is more than the European average. The average intensity of solar radiation in the Republic of Serbia's territory ranges from 1,1 kWh/m2/day in the north to 1,7 kWh/m2/day in the south – during January from 5,9 to 6,6 kWh/m2/day – during July. Annually, the average value of the overall sun radiation for the Republic of Serbia territory ranges from 1,200 kWh/m2/a year in northwest Serbia to 1,550 kWh/m2/a year in southeast Serbia. In comparison, in the middle part, it is about 1,400 kWh/m2/a year.

At the middle of July 2013, the Serbian Ministry of Energy adopted already anticipated and previously announced the market model of Power Purchase Agreements (PPA) and Preliminary Power Purchase Agreement (Preliminary PPA). With this model, privileged renewable power producers will be able to utilise green electricity incentives (i.e. the feed-in tariff). According to Serbian Energy Minister's estimations, Mrs. Zorana Mihajlovic this market model will attract more than €2 billion renewable investments (including photovoltaic ones) in the country by 2020.

Photovoltaic power capacity in Serbia will increase between 2014 and 2016 due to recent changes in RES law and national renewable energy action plan (NREAP). We expect market drivers by the end of 2016 to be photovoltaic power plants with a capacity between 1 and 5 MW. With some project within 20 – 30 MW range expected to start operation during the second half of 2015. Serbian market will be heavily dependent on political decisions and should be watched closely. Main investors are expected to be local companies and foreign investors from China, Russia, Slovakia, Italy and Austria.

More information about Serbian photovoltaic (solar PV) market you may read here: Western Balkans Photovoltaic (Solar PV) Market: Outlook 2013÷2018

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