This article deals with the estimations of the #State Agency for Energy Efficiency and Energy Saving of Ukraine with regards to #alternative energy development in Ukraine and its potential for #foreign investors.
Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities.
The State Agency for Energy Efficiency and Energy Saving of Ukraine announced that the investment potential of Ukrainian ‘green’ energy market is estimated at EUR 16 billion.
According to the State Agency for Energy Efficiency and Energy Saving, Ukraine has all technical means and resources in order to transfer from traditional fuels to alternative sources of energy. The aim of the agency is to facilitate and increase the share proportion of alternative energy in the energy system of Ukraine to 11% by 2020.
The State Agency for Energy Efficiency and Energy Saving of Ukraine noted that the latest trend in the alternative energy sector of Ukraine is increase of solar panels installed by the households. In the last quarter of 2015 the amount of installed solar panels increased by 84%.
Ukraine has very favourable geographic and weather conditions for development of solar energy. While the South of the country is traditionally considered as the most attractive region for implementation of solar projects, recently commissioned stations prove that development of such projects is commercially viable in Western and Central Ukraine as well.
Ukraine, as many other nations, seeks to diversify its energy sources in order to reduce dependence on traditional fossil fuels. Therefore, in 2009 the Verkhovna Rada of Ukraine passed a law, which introduced feed-in tariff, i.e. the guaranteed obligation of the state to purchase energy generated from alternative sources. In addition to feed-in tariff, the state also established a significant number of tax benefits for producers of alternative energy.
We note that the renewable energy market in Ukraine is finally showing some activity after few years of relative stagnation. In 2016 several solar energy plants have been already commissioned (a couple of stations of capacity not exceeding 5 MW).