The population of Azerbaijan was 9.76 million and the current gross domestic product (GDP) was $37.85 billion as of 2016. Azerbaijan solar photovoltaic (PV) power market value, which was USD XXX billion in 2016, is expected to grow to USD XXX billion in 2017, at a CAGR of XXX percent. Azerbaijan is a major hydrocarbon producer: the oil and gas sector dominates the economy, accounting for approximately 40 percent of GDP. It is estimated that the country has up to 25,400 MW of renewable electricity generating potential, including 15 GW of wind and 8 GW of solar photovoltaic (PV) potential, but these have not been harnessed on a large scale.
Rich in fossil fuel deposits, Azerbaijan’s energy strategy is primarily centered around the country’s successful attainment of investment from world oil and gas majors in its oil and gas upstream sector. Azerbaijan has improved the security of electricity supply over the past decade due to major investment in modernization of electricity generation and networks as well as replacement of aged infrastructure. The country has also prioritized renewable energy developments in recent years.
Azerbaijan has good renewable energy resources. Offering 2,400-3,200 hours of sunshine per year, Azerbaijan has also good potential for solar PV electricity and heat generation. While 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 majority 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 Nakhchivan Autonomous Republic).
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 PV power sector across parameters - country overview, current power and solar photovoltaic (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 Azerbaijan 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 AZERBAIJAN SOLAR PV POWER MARKET IN 2017
3.1 Country Overview
3.2 Current Status of Solar PV Power Market in Azerbaijan
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 Azerbaijan
Chart 2 Share of Solar PV Power from Total Installed Power Generation Capacity in Azerbaijan in 2016
Chart 3: Azerbaijan Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016
Chart 4: Azerbaijan Power Generation Capacity Breakdown by Source (Fuel) Type in 2016 (incl. Renewables)
Chart 5: Structure of Electricity Power Market in Azerbaijan
Chart 6: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants in Azerbaijan (in MW) 2012 ÷ 2017, including forecast
Chart 7: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants in Azerbaijan (in Millions USD) 2012 ÷ 2017, including forecast
Chart 8: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Azerbaijan (in MW) 2012 ÷ 2017, including forecast
Chart 9: Annual Revenue of Photovoltaic (Solar PV) Power Plants in Azerbaijan (in Millions USD) 2012 ÷ 2017, including forecast