Photovoltaic (Solar PV) Market in Belarus is expected to grow in the period 2016 - 2025. New feed-in tariffs for solar PV power entered into force in 2015 ...
Update: June, 2017
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: 132
Report production №: RMWIN3502016158
Delivery: Up to 24 hours by e-mail
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This market report offers an incisive and reliable long-term overview of the solar photovoltaic sector of the country for the period 2016 ÷ 2025. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria, Greece and Italy, the Republic of Belarus represents an interesting investment destination in CIS region with one of the highest feed-in tariff support levels in the world.
Current cumulative installed solar PV capacity in the country is insignificant, but a number of fully permitted and ready to build projects will promptly increase in 2017 and next years. First MW scale photovoltaic power plants have been launched into commercial operation in 2016, whilst pipeline of over 321 MW solar projects are progressing in different stages of permitting process. Feed-in tariff for solar energy has been updated in Belarus in May 2015 combined with 20 years PPA period is expected to pave the way for fast further growth of solar PV market in Belarus.
The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 130 pages of valuable information in this unique in-depth analysis of the Belarus solar PV market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. For your convenience we offer opportunity for orders with customized report content Reasons to buy this market report are, but no limited to:
- Solar resource potential in Belarus
- Historical market data provided from 2000 to 2016 and forecasts until 2025
- Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Belarus (IRR, WACC, Payback, NPV, Cash Flow, etc.)
- Over 45 charts, tables and maps
- Overview of Belarus photovoltaic (solar PV) market development 2000 ÷ 2025
- Development scenario of Belarus photovoltaic (solar PV) sector until 2025
- Major active and upcoming solar PV power plants in Belarus
- Current market prices of fully permitted and operational photovoltaic projects
- Attractiveness index for solar photovoltaic investments in Belarus and CIS countries
- SWOT Analysis (detailed in 5 pages)
- Overview of Belarus legal and regulatory framework for RES generation
- Review of most relevant financing and supporting incentives
- Project developers, EPC providers and Consultants in Belarus
- Key organizations and stakeholders affecting development of the photovoltaic sector in Belarus
- Investment potential and opportunities
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 Belarus 12
2.2 Belarus Solar Resource Potential 12
2.3 Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Belarus 13
2.4 Market Drivers and Constraints 14
2.5 Recent and Pending Changes in Renewable Energy Law in Belarus 14
2.6 Market Forecast Summary 15
3 BELARUS POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 16
3.1 Basic Country Data 16
3.2 Political Climate and Ruling Party 20
3.3 GDP and Economic Growth 20
3.4 Taxes 23
3.4.1 VAT 23
3.4.2 Income and Corporate Taxes 24
4 COMMONWEALTH INDEPENDENT STATES (CIS) AND CENTRAL-EAST EUROPE (CEE) POWER MARKET 24
4.1 General Electricity Market Information 24
4.2 Photovoltaics (Solar PV) in Energy Sector 31
4.3 Single Electricity Market of European Union 35
4.4 CIS States Common Electricity Market (CIS CEM) 37
4.5 Electricity Market Concept of Eurasian Economic Union 38
5 COMMONWEALTH INDEPENDENT STATES (CIS) PHOTOVOLTAIC (SOLAR PV) POWER MARKET 39
5.1 Market Overview 39
5.2 Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue 40
5.3 Annual Installed Photovoltaic (Solar PV) Capacity and Revenue 42
5.4 Future Development Trends 43
6 BELARUS POWER MARKET 44
6.1 Electricity Transmission and Distribution 44
6.2 Wholesale Power Market Structure in Belarus 46
6.3 Tariff Regulation in Power Sector in Belarus 47
6.4 Electricity Consumption and Generation 48
6.5 Electricity Imports and Exports 50
6.6 Electricity Prices for Business and Households 51
6.7 Renewable Energy Sources (RES) Targets 52
7 BELARUS PHOTOVOLTAIC (SOLAR PV) POWER MARKET 54
7.1 Why Invest in Photovoltaic (Solar PV) Power in Belarus? 54
7.2 Belarus Solar Resource Potential 56
7.3 Licensing Period Duration 57
7.4 Regional Substation Capacities for Solar PV Power Projects in Belarus 57
7.5 Overview of Photovoltaic (Solar PV) Power Market in Belarus 57
7.6 Market Structure Analysis 60
7.7 Investment Trends and Development Roadmap 60
7.8 Competitive Environment in Photovoltaic (Solar PV) Power Market 60
7.9 Profiles of Key Players and Investors in Photovoltaic (Solar PV) Power Market 62
7.10 Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue 62
7.11 Annual Installed Photovoltaic (Solar PV) Capacity 64
7.12 Market Prices for Photovoltaic (Solar PV) Power Projects in Belarus in Development, Ready to Build and Operational (Grid Connected) Condition 64
7.13 Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Belarus 65
7.14 Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Belarus 65
7.15 Key Photovoltaic (Solar PV) Power Projects in Belarus Under Development 66
7.16 Mergers and Acquisitions 70
8 DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN BELARUS. SWOT ANALYSIS 71
8.1 Market Drivers 71
8.2 Market Drivers Explained 71
8.3 Market Constraints 71
8.4 Market Constraints Explained 71
8.5 SWOT Analysis 72
9 FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN BELARUS 75
9.1 Financing Options of Photovoltaic (Solar PV) Power Projects in Belarus 75
9.1.1 Belarus Sustainable Energy Financing Facility (BelSEFF) 75
9.1.2 EU4Energy Programme 77
9.2 Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Belarus (IRR, WACC, Payback, NPV, Cash Flow, ETC.) 78
10 TECHNOLOGY ANALYSIS 81
10.1 Photovoltaic (Solar PV) Technology Overview 81
10.2 Technology Trends 82
11 CIS COUNTRIES RENEWABLE ENERGY POLICY LANDSCAPE 84
11.1 RES Regulations and Directives of European Union (EU) affecting CIS countries 84
11.1.1 Precedent Regulations 84
11.1.2 EU 2030 Framework for Climate and Energy Policies 85
11.1.3 EU Energy Roadmap 2050 88
11.2 RES Strategy for CIS Countries Developed by UN ECE 90
11.2.1 Development of Educational Activity and Personnel Training 91
11.3 Renewable Energy Sources (RES) Mandatory Targets for CIS Countries 92
12 BELARUS RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 94
12.1 Main Laws and Regulations 94
12.2 Support Schemes 95
12.3 Recent and Pending Changes in Renewable Energy Law in Belarus 96
12.4 Zoning, Planning and Construction Related Authorizations 96
12.5 Environmental Related Authorizations 98
12.5.1 Environment Protected Areas 98
12.5.2 Clean Development Mechanism (CDM) and Joint Implementation (JI) 99
12.6 Energy Law Authorizations 100
12.6.1 Power Generation Licensing 100
12.6.2 Grid Interconnection and Quota Limitations 101
12.6.3 Power Off-Take 101
12.6.4 Feed-in tariff (FIT) 101
12.6.5 RES Certificates (Guarantees of Origin) 103
12.7 Future Market Pricing Mechanisms 103
13 KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN BELARUS 104
13.1 Government Stakeholders 104
13.2 Non-Government Stakeholders 107
13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 107
14 CONCLUSIONS AND RECOMMENDATIONS 109
15 LIST OF ABBREVIATIONS 111
16 REFERENCES 113
17 DISCLAIMER 115
APPENDIX I. SOLAR MAPS OF CIS COUNTRIES AND BELARUS 116
APPENDIX II. CALCULATIONS DESCRIPTION TO FINANCIAL MODEL 117
- Map 1: Where is Belarus on the CIS Countries Map 16
MAP 2: Major Transport Corridors Passing Through Belarus 17
MAP 3: Belarus Administrative Regions Map 18
MAP 4: The Synchronous Grids of Europe and CIS States (IPS/UPS is Shown in Orange, UCTE is Equal to ENTSO-E) 24
MAP 5: Interconnection Grid Map of Central-East Europe and CIS States, ENTSO-E 25
Map 6: Electricity Grid Map of Belarus (750-330-220-110 kV) 44
Map 7: Solar Resource Map of Belarus 54
MAP 8: Environment Protected Areas in Belarus 97
MAP 9: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Europe and CIS countries, 115
Map 10: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe and CIS Countries 116
Chart 1: Belarus Real GDP Growth for the Period 2000 ÷ 2025 (including forecast) 21
Chart 2: Belarus GDP Growth Compared to EU-27 for the Period 2000 ÷ 2025 (including forecast) 22
Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and Commonwealth Independent States (CIS) 23
Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and Commonwealth Independent States (CIS) in 2016 26
Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) Countries and Commonwealth Independent States (CIS), 2016 (in %), EuroStat 28
Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2016 29
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW), ENTSO-E 30
Chart 8: Net Power Generation Added Capacities in the EU 28 in 2016 (MW), WindEurope, SolarPower Europe 31
Chart 9: Age of Power Plants in Europe in 2016; SolarPower Europe 32
Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2016 (MW), WindEurope 33
Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2016, WindEurope 33
Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2016 (GW), WindEurope 34
Chart 13: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS) 2000 ÷ 2025, including forecast 39
Chart 14: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Commonwealth Independent States (CIS) 2000 ÷ 2025, including forecast 40
Chart 15: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS) 2000 ÷ 2025, including forecast 41
Chart 16: Annual Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) Commonwealth Independent States (CIS) 2000 ÷ 2025, including forecast 42
Chart 17: Synchronous High Voltage Grids Operation of Power Systems of Belarus, Russia, Estonia, Latvia and Lithuania (BRELL) 43
Chart 18: Structure of the Power Market in Belarus 44
Chart 19: Wholesale Power Market Structure in Belarus 45
Chart 20: Tariff Regulation in Power Sector of Belarus 46
Chart 21: Share of RES electricity from Total Installed Power Capacity in Belarus in 2016 47
Chart 22: Belarus Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016 48
Chart 23: Belarus Power Generation Capacity Breakdown by Source (Fuel) Type in 2016 48
Chart 24: Electricity Imports and Exports in Belarus 2000 ÷ 2025 (in TWh) including forecast 49
Chart 25: Belarus Targets for Renewable Energy Sources (RES) by 2030 (in %) 52
Chart 26: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants in Belarus (in MW) 2000 ÷ 2025, including forecast 62
Chart 27: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants in Belarus (in Millions USD) 2000 ÷ 2025, including forecast 62
Chart 28: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Belarus (in MW) 2000 ÷ 2025, including forecast 63
Chart 29: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Belarus 65
Chart 30: BelSEFF Structure 75
Chart 31: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus 79
Chart 32: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2016 81
Chart 33: Corporate Governance Structure of Belenergo 107
Table 1: Electricity Prices for Business and Households 50
Table 2: Support Schemes for Renewable Energy Sources (RES) Generation in the EU Countries and CIS Countries 53
Table 4: Market Prices for Photovoltaic (Solar PV) Projects in Belarus for 2016 ÷ 2025 in Development, Ready to Build and Operational (Grid Connected) Condition 64
Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Belarus 64
Table 6: Database with Major Operational (Grid Connected), Under Construction and Planned Photovoltaic (Solar PV) Projects in Belarus 66
Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus 78
Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus (IRR, NPV, Payback, Benefit-Cost) 78
Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus 79
Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus (Pre-tax, After-tax, Cumulative) 79
Table 11: Crystalline Module Price Trend in 2016 82
Table 12: Feed-in-tariffs (FiT) for Electricity from Renewable Energy Sources (RES) in Belarus Commissioned After 20.08.2015 101
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