Czech Republic Solar Photovoltaic (PV) Power Market: Outlook 2024 - 2033 - Trends, Forecasts, Investments, Opportunities, Analysis
/LONDON, August 5, 2024, 9:30 BST, RENEWABLE MARKET WATCHTM/ This market report offers an incisive and reliable overview of the photovoltaic sector of the country for the next long-term period from 2024 ÷ 2033. The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the north, Germany to the west, Austria to the south and Slovakia to the east. Its capital and largest city, with 1.3 million inhabitants, is Prague. The Czech Republic includes the historical territories of Bohemia and Moravia and a small part of Silesia. The population of the Czech Republic is 10,495,295 at the end of 2023, and 73.5 % of the population is urban (7,371,120 people in 2023). The total land area is 77,240 Km2 (29,823 sq. miles). Renewable Market Watch™ registered that after a decade-long stagnation in the solar photovoltaic market in the Czech Republic since 2020, the small-scale residential and commercial segment activity increased.
In the last few years, the Czech Republic has been the focus of investors’ interest. The political stability and predictability due to the NATO membership and the EU accession, the stable economic perspective and the growing credit rating of the country and its institutions were only some of the elements attracting the investors’ interest. External investors have been attracted by rapidly developing national industry, highly skilled workforce and significant new market. The energy sector is important in Czechia’s economy and security policy.
By 2007, the Czech solar photovoltaic market was undeveloped, with only 4 MW of cumulative installed capacity. The favourable renewable energy law with a very attractive feed-in tariff led to an uncontrolled boom in solar PV installations without adequate government reaction between 2009 and 2011, when almost 2 GW of capacity was installed. In early 2011, the Czech government imposed a retroactive 26 % tax on the income of previously installed PV plants between 2009 and 2010, and this action brought panic and raised international scandal. A lot of concerned investors started court trials against the government. Also, the Czech Republic stopped feed-in tariffs and subsidised photovoltaic installations completely from 1 January 2014, regardless of the size of the photovoltaic power plant.
Investments in new renewable energy generation capacity in the Czech Republic have been moderate between 2010 and 2020. Coal remains the primary energy source for electricity production, followed by nuclear power and hydropower. However, activity in the solar photovoltaic (PV) power market in the Czech Republic has been increasing since 2020, according to the recently published study Czech Republic Solar Photovoltaic (PV) Power Market Outlook 2024 ÷ 2033. In 2023, almost 1 GW of new solar photovoltaic power capacity was added in the Czech Republic. This serious growth was largely driven by residential solar installations.
The Czech Ministry of the Environment announced on March 29, 2023, that it has secured new funds from the European Union for its New RES+ program (Green Savings program). The allocated CZK 19 billion (€0.75 billion) from the National Recovery Plan to fund the New Green Savings program were used up two years earlier than expected. Since its launch in 2014, the New Green Savings program has provided support to 180,000 households, amounting to CZK 22 billion (€0.75 billion). Initially, the focus was on energy savings in the residential sector through the renovation and construction of low-energy family and apartment buildings, but currently, most of the funding is being used for rooftop PV rebates.
Thanks to the Just Transition Fund (JTF) Programme adopted by the Commission on 26 September 2022, the Czech Republic will receive €1.64 billion in EU grants to support the country's efforts to phase out coal-fired power by 2033 and ensure a fair transition to climate neutrality. The JTF will help, in particular, the Czech regions of Karlovarsky, Ústecky and Moravskoslezsky, where there is a high concentration of carbon-intensive industries with 21,000 jobs linked to the coal and chemicals industry. The JTF will make sure that the climate transition will not leave anyone behind.
The Czech solar energy market is expected to be heading toward an expansion phase by 2033. Factors propelling the market growth include concerns regarding the negative environmental impacts of fossil fuels, a decrease in coal power generation capacity, replacement of aged power generation units based on fossil fuels, compliance with the European Green Deal, and others. Also, serious growth in the residential and commercial building stock and economic growth in the largest Czech cities are significant factors driving the solar energy market.
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 Czech Republic's solar photovoltaic (PV) market and will receive an overview of how COVID-19 (Coronavirus) recovery and the military conflict in Ukraine will impact it. With comprehensive market data, this report brings clear and concise insights to help investors in their decision-making process. As 2023 was a challenging year for the solar photovoltaic (PV) market industry, the time for making the right decisions during 2024 and the next few years is limited. The fast-changing market environment requires relevant and accurate information. For your convenience, we offer the opportunity for orders with customized report content. Reasons to buy this market report are, but are not limited to:
- Overview of the Czech Republic's political and economic environment
- Solar resource potential in the Czech Republic
- Financial Model and Analysis of 50 MW Photovoltaic (Solar PV) Power Plant investment in the Czech Republic (IRR, WACC, Payback, NPV, Cash Flow, etc.)
- Over 55 charts, tables and maps
- Overview of the Czech Republic photovoltaic market development 2013 ÷ 2033
- Grid-connected photovoltaic installations
- Future market trends and planned photovoltaic projects for 2024 ÷ 2033
- Market prices of fully permitted and operational photovoltaic projects
- The Czech Republic's legal and energy regulatory framework for renewable projects
- Key companies and competitive landscape in the photovoltaic sector
- Review of most relevant financing and supporting incentives
- SWOT Analysis (detailed in 5 pages)
This report is essential reading for you or anyone interested in the promising Czech Solar Power Market, including an investment trend overview, competitive landscape and forecast of how investment volume in this market will develop over the next ten years. This report provides a comprehensive analysis of existing mechanisms supporting solar energy use in the Czech Republic and highlights the challenges and opportunities associated with their developments.
The author of this report, Renewable Market Watch™, has distinguished itself throughout the years by publishing unbiased reports on the development of global renewable energy markets. For your convenience, we offer the opportunity for orders with customized report content.
The more information and answers to your questions about the Czech Solar Power market and related content, you may read here: Czech Republic Solar Photovoltaic (PV) Market Outlook 2024 ÷ 2033
To download the executive summary brochure with sample pages for the Czech Republic solar power market, please access from here: Czech Republic Solar Photovoltaic (PV) Power Market Outlook - Sample
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