Solar power installations Russia

Does Russia have a solar PV market?

According to GlobalData, solar PV accounted for 0.61% of Russia’s total installed power generation capacity and 0.22% of total power generation in 2021. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Russia Solar PV Analysis: Market Outlook to 2035 report. Buy the report here.

Is solar energy a good investment in Russia?

Even though demand for solar energy in Russia is low, the Moscow-based company, Hevel, is producing solar modules with an energy conversion efficiency of 22 percent, which is the world’s highest. In addition to Hevel, only two other companies in the world produce solar equipment with similar efficiency: Panasonic (Japan), and Sun Power (U.S.).

Does Russia have a solar power plant?

Nevertheless, in the past three years Russia has been rapidly developing solar energy. Kosh-Agachskaya solar power plant in the Republic of Altai was opened in 2014. In 2014, Russia opened its first solar power plant, and the country has 12 today. Soon the 13th will be launched.

How much does solar power cost in Russia?

The latest tender round was held in September when the Russian authorities allocated 775 MW of solar power at an average price of RUB 5.18 ($0.067)/kWh. “Commercial and industrial solar accounts for 4,5% of total PV generation, with all of this capacity coming from PPA agreements,” Usachev further explained.

What is Russia's largest solar energy company?

With a capacity of 20 MW, it will power about 4,000 homes and will be launched in September. The Hevel Group (" hevel " means “sun” in the Chuvash language) is Russia’s largest solar energy company, and was founded in 2009 by Renova and Rosnano, which have a 51-percent and 49-percent stake, respectively.

How much solar energy does Russia produce?

Russia's share of solar energy production is a paltry 0.03 percent of the country's total, and to meet its electricity needs the country relies heavily on traditional energy sources with high conversion efficiency, such as gas, oil, hydro and nuclear. Nevertheless, in the past three years Russia has been rapidly developing solar energy.