Sep 2, 2019   SOURCE: BusinessWire

Western Balkans Solar Photovoltaic (PV) Power Market Outlook 2018-2027 - ResearchAndMarkets.com

The "Western Balkans Solar Photovoltaic (PV) Power Market Outlook 2018-2027" report has been added to ResearchAndMarkets.com's offering.

This market report offers an incisive and reliable overview of the photovoltaic sector of Western Balkans countries for the period 2018-2027.

The report provides a complete picture of the market situation, dynamics, risks, current issues, and future prospects. You will find 300 pages of valuable information in this unique in-depth analysis of the Western Balkans countries photovoltaic market. With comprehensive market data, this report brings clear and concise insights, to help investors, manufacturers and service providers in their decision making process.

As 2016 and 2017 were challenging years for the photovoltaic industry, the time for making the right decisions during 2018 and the next few years is limited. The fast-changing market environment requires relevant and accurate information. For your convenience, the analyst provides an opportunity for orders with customized report content.

Reasons to buy this market report are, but not limited to:

  • Solar resource potential in Western Balkans countries
  • Historical market data provided from 2000 to 2017 and forecasts until 2027
  • Overview of Western Balkans solar photovoltaic market development 2007-2027 by countries
  • Development scenario of Western Balkans solar photovoltaic sector until 2027
  • Major active and upcoming solar photovoltaic plants in Western Balkans
  • Attractiveness indices for solar photovoltaic investments in Western Balkans
  • SWOT Analysis (detailed in 5 pages)
  • Overview of Western Balkans legal and regulatory framework for RES generation by countries
  • Project developers, EPC providers, and Consultants in Western Balkan countries
  • Key organizations and stakeholders affecting the development of the solar photovoltaic sector by countries
  • A comprehensive review of smart grid development in Western Balkan countries
  • Investment potential and opportunities

Subscription: The price includes a subscription for a 1 year period with 4 quarterly updates

All the Western Balkan countries have committed to increasing their share of renewable energy by 2020 to reach between 25 and 40 percent of their energy mix, as part of their obligations under the Energy Community Treaty. Western Balkan countries are planning to build nearly 3,000 MW of new coal power plants. The construction cost of these power plants could exceed EUR 5 billion. This is in conflict with the Paris Agreement's aim of limiting the average global temperature increase to 1.5 degrees Celsius, and in contrast with the situation in the EU, where most countries are giving up building new coal plants and seven EU states are already coal-free. Germany announced at the end of this month plans to end its reliance on coal power plants by 2038.

What is the Current Power Market Situation in Western Balkans?

Total installed power generation capacity in the Western Balkans region at the end of 2018 is 17,867 MW. According to energy experts, many of the power generation facilities in this region are outdated and too centralized to be efficient. The Western Balkans constitute one-quarter of total energy consumption in the European Union according to Eurostat data. Final energy consumption may grow by about 25% over the period up to 2030. Western Balkan countries have CO2 emissions three times the European Union average.

Despite serious political support from the governments of the most Western Balkan countries to coal power, we have observed since 2016 delay in investment intentions for some of the announced coal power plant projects. However, solar and wind power projects need less realization and building time and investment cost than new coal power facilities, and their electricity generation cost is very close to those of coal power ones. Furthermore, Western Balkan countries, which plan to join the European Union (EU) will have to pay penalties for CO2 emissions from coal power plants. Political leaders of Western Balkan countries already think about how to increase energy efficiency and to install more renewable energy capacity in order to diminish their coal dependency.

Solar Photovoltaic (PV) Power in Western Balkans

Geographically, all Western Balkan countries are suitable for the production of photovoltaic energy throughout the whole year. The solar irradiation potential of the Western Balkan countries territory varies in accordance with the differences in the sunlight intensity between the countries. The average annual sunshine duration is roughly 2,130 hours. Also, high irradiation can sometimes be found on altitudes and terrains unsuitable for agriculture. In such cases, owners and municipalities would be motivated to sell or lease land that would otherwise generate little or no income.

Due to the lack of proper government support for solar photovoltaic (PV) energy in Western Balkan countries, the region, trails far behind Western Europe and Central Europe in terms of cumulative installed solar PV capacity. However, this situation has started to change since 2015. A number of new solar PV projects have been planned and commissioned in Western Balkan countries reveals Western Balkans Solar Photovoltaic (PV) Power Market Outlook 2018-2027.

Albania's government targets to have 120 MW of solar PV capacity by 2020. HEP Group will build Croatia's biggest solar PV power plant on the island of Cres with 6.5 MW power capacity. Orlec Trinket East Solar Power Plant will be built on an area of 17 hectares, about 2 km north from Orlec settlement on the island of Cres. The Ministry of Industry, Energy, and Mining of the Republika Srpska has launched a tender for the construction of a 65 MW solar PV power plant in the middle of 2018 with the aim to attract domestic and international investors. Macedonia's first solar module factory started commercial operation in 2018. The factory is owned by the PikCELL Group in partnership with Solar ET and is a 100% private investment. It has a production capacity of 20 MW of solar PV modules per year.

Conclusions

Our observations have shown that the Western Balkans region has a vast potential for solar and wind energy projects development while currently only a small share of that potential has been deployed. The region has a significant transformation potential towards a low carbon energy system. To overcome the future gap between energy supply and demand, as well as taking into consideration the risks from global climate change, a lot of attention should orient to renewable energy sources (RES) in the Western Balkans countries.

Western Balkan countries are the new found hotspot for solar and wind energy investments amongst European countries. The maturing Western European and Central European markets allowed investors to look for new opportunities in the Western Balkans region.

Companies Mentioned

  • HEP Group
  • PikCELL Group

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