Solar PV Market in Azerbaijan
/7th August 2014, RENEWABLE MARKET WATCHTM/ Azerbaijan has good renewable energy resources. Offering 2,400-3,200 hours of sunshine per year, Azerbaijan also has good solar electricity and heat generation potential. At the same time, its technically feasible potential for solar PV generation is 16 billion kWh. This would imply saving up to 0.7 million tons of conditional fuel, preventing ozone-cracking (depleting) and reducing carbon dioxide emissions.
Azerbaijan has good renewable energy resources. Offering 2,400-3,200 hours of sunshine per year, Azerbaijan also has good potential for solar PV electricity and heat generation. At the same time, its technically feasible potential for solar PV generation is 16 billion kWh. This would imply saving up to 0.7 million tons of conditional fuel, preventing ozone-cracking (depleting) and reducing carbon dioxide emissions. In this aspect it is necessary to notice that in most of the regions of Azerbaijan solar energy potentials consist of averagely 1,600 - 2,000 kWh/sq.m./year (including some cases till 2,200 kWh/sq.m./year in the Nakhchivan Autonomous Republic).
Representing only 2.7% of total energy consumption in 2013, renewable energy (RE) will require additional investment to become competitive with the country’s huge fossil resources. The reduction of energy consumption for heating and cooling, which represents more than 50% of total domestic consumption, is another major challenge that could be resolved partially by introducing efficient technology. The Ministry of Industry and Energy of Azerbaijan has announced it will invest US$8.9 billion to increase renewables generation to 20% by 2020.
The State Company for Alternative & Renewable Energy Sources in Azerbaijan finalized the National Strategy of Alternative & Renewable Energy Sources for the period 2012 - 2020. Presentation to the country’s President has been done at the end of 2012. The strategy provides a framework for drawing up relevant state programs, adopting a law and regulations on alternative energy and energy efficiency and developing alternative and renewable energy sources. The goal is to bring the share of alternative energy sources in the country’s national energy balance up to 20% in 2020 to install 2,500 MW of new capacity.
More information about current development and future trends of Azerbaijan solar PV market you may read here: CIS Countries Wind Power Market Outlook 2013 - 2018
