Ukraine: Increase the total installed capacity of photovoltaics to 12.2GW by 2030

Despite suffering from the ravages of war, Ukraine achieved significant growth in the photovoltaic market in 2024- according to a report by the Ukrainian Solar Energy Association (ASEU), its newly installed capacity reached 800-850MW in 2024. This growth is mainly driven by businesses and households relying on their own photovoltaic systems to ensure the stability of power supply while addressing the challenges of grid security.

ASEU Chairman Vladyslav Sokolovsky pointed out that the growth of the self use market is due to the cancellation of value-added tax (VAT) and tariffs on the import of photovoltaic modules and related equipment in the summer of 2024, which provides strong support for households and businesses to deploy solar power generation equipment.

According to the International Renewable Energy Agency (IRENA), as of the end of 2023, Ukraine's cumulative installed photovoltaic capacity has reached 8.06 GW. The newly installed capacity in 2019 was 3.93GW, while in 2020 and 2021 it was 1.395GW and 731MW respectively.

Even though the war continues, ASEU remains optimistic about the prospects of the Ukrainian photovoltaic market. In the self use market, more companies are investing in photovoltaic systems that combine energy storage to ensure energy security; For industrial photovoltaic projects, some new projects have been announced in 2024, which are expected to further promote the construction of industrial grade photovoltaic power stations in the future.

In addition, Sokolovsky also mentioned the development potential of agricultural photovoltaic complementarity. Farmers and agricultural companies can significantly reduce energy costs by installing photovoltaic and energy storage systems when they are far away from substations or need to lay transmission lines. Sokolovsky stated that from an economic feasibility perspective, agricultural photovoltaic complementarity will gradually emerge in Ukraine, and "we are expected to see its first results this year

According to the association, the Ukrainian government is considering introducing a military risk insurance mechanism for investors, while supporting industry growth through preferential loans and funding projects.

According to the National Renewable Energy Action Plan, Ukraine aims to increase the total installed capacity of photovoltaics to 12.2 GW by 2030.