Armenia has built a viable energy system and now aims to develop less costly sources of energy and increase the energy diversification. Energy security and energy independence represent two important elements of the national security strategy of Armenia. Hence, the development of the energy sector has always been an issue of primary importance within the government’s agenda of economic reform. The country has potential to quintuple the contribution of renewable electricity between 2010 and 2020. Wind energy potential estimated at 470 MW with an annual generation of 1,360 GWh.
Natural climatic conditions in Armenia are enough favorable for solar energy use. Annual Average value of sunshine hours is 2,500 hours. Average annual flow of solar radiation on horizontal surface is 1720 kWh/m2. For comparing purposes, in Central Europe this average value is 1000kWh/m2, particularly in Poland, Czech Republic, and Slovakia 950- 1050kWh/m2, in Hungary – 1,200kWh/m2, in Bulgaria - 2,000 kWh/m2.
On the territory of Armenia, actual annual average hours of sunshine (i.e. possible sunshine Hours minus time period during which the sun is covered by clouds) depends on site of Consideration and varies from 2,000 to 2,800 hours/year. This value constitutes more than 50% of possible sunshine hours. Actual sunshine hours for Yerevan are 2,700, for Martuni – 2,750, for Ashtarak-2,837, for Vanadzor-2,019, for Idjevan-1,827 hours. For the territory of Armenia as a whole, actual annual average hours of sunshine are equal to 2,500 hours.
The Armenian government adopted the National Energy Security Concept in 2013 (in support of its Economic Development Strategy to 2025), outlining strategies for fuel diversification mainly through renewables, nuclear power, building up fuel reserves and increasing its electricity generation capacity. Numerous strategies and action plans have been developed on the basis of the concept, supporting ambitious targets for replacing 1,000 MW nuclear capacity by 2026 and reaching a 26% renewable energy share in the country’s energy mix by 2025 (up from 7% in 2012).
The country’s main strategy to meet the growing need of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources, and connecting to the power infrastructure of Commonwealth Independent States (CIS).
- Snapshot of the country’s renewable and solar photovoltaic (PV) power sector across parameters - country overview, current power and solar PV power market status, electricity market structure, key issues, future plans and strategies to meet increasing power demand, and way forward.
- Statistics for cumulative and annual installed solar photovoltaic (PV) power generation capacity of from 2012 to 2017.
- Statistics for cumulative and annual revenue of solar photovoltaic (PV) power plants from 2012 to 2017.
- Break-up by power generation technology, including thermal, hydro, renewable (incl. solar PV) and nuclear
- Data on key issues witnessed in the Armenian solar photovoltaic (PV) sector.
- Information on future plans and strategies to meet increasing power demand.
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s solar photovoltaic (PV) power sector
- Facilitate decision-making based on strong historic and forecast data
- Develop strategies based on the latest regulatory events
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Identify key partners and business development opportunities
1.1 Research Methodology
2 EXECUTIVE SUMMARY
3 ARMENIA SOLAR PV POWER MARKET IN 2017
3.1 Country Overview
3.2 Current Status of Solar PV Power Market in Armenia
3.3 Key Issues
3.4 Investment Trends and Development Roadmap to Meat Increasing Power Demand
3.5 Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue
3.6 Annual Installed Photovoltaic (Solar PV) Capacity and Revenue
3.7 Support Schemes
4 CONCLUSIONS AND RECOMMENDATIONS
5 LIST OF ABBREVIATIONS
Chart 1: Solar Resource Map of Armenia
Chart 2 Share of Solar PV Power from Total Installed Power Generation Capacity in Armenia in 2016
Chart 3: Armenia Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016
Chart 4: Armenia Power Generation Capacity Breakdown by Source (Fuel) Type in 2016 (incl. Renewables)
Chart 5: Structure of Electricity Power Market in Armenia
Chart 6: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants in Armenia (in MW) 2012 ÷ 2017, including forecast
Chart 7: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants in Armenia (in Millions USD) 2012 ÷ 2017, including forecast
Chart 8: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Armenia (in MW) 2012 ÷ 2017, including forecast
Chart 9: Annual Revenue of Photovoltaic (Solar PV) Power Plants in Armenia (in Millions USD) 2012 ÷ 2017, including forecast