Czech Republic Solar Energy Market - Growth, Trends, and Forecasts (2020 - 2025)
The Czech Republic solar power market report provides an insight into the market size, growth, share, trends, analysis, government policies and regulations, competitive landscape, market dynamics, and opportunities.
ABOUT THIS REPORT
Scope of the Report
Key Market Trends
TABLE OF CONTENTS
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Czech Republic solar energy market is expected to grow at a CAGR of around 2.5% during the forecast period. The primary driver for the market includes the government initiatives that include the uses of clean and alternative sources of energy in order to protect the environment from the growing carbon emission. However, the lack of certainty in regulations framework and the limitations of the existing electricity transmission and distribution structures is expected to hinder the market growth during the forecast period.
The growing demand for electricity is expected to drive the market during the forecast period.
With increasing carbon emission, the government of the Czech Republic is expected to increase its renewable energy share in total electricity production. With nearly 15% renewable share in electricity generation in 2019, the country is estimated to increase the share to nearly 22% by 2030. Moreover, it has been estimated that renewable energy consumption would get an increase to nearly 230 PJ by 2030, which is likely to create an opportunity for the solar market to grow in the near future.
Developments in nuclear power plant projects are expected to restrain the solar energy market growth during the forecast period.
Scope of the Report
The Czech Republic solar energy market report includes:
Report scope can be customized per your requirements. Click here.
Key Market Trends
Growing Demand for Clean Electricity to Drive the Market
Electricity plays a vital role as a factor of economic growth and social welfare, in which it is essential to have an accessible, reliable, and sustainable form of energy.
During 2019, Czech Republic has a solar installed capacity of around 2071 MW, with an electricity generation capacity of around 2.3TWh. Czech Republic's renewable energy shares around 12% of the total electricity generation in the country.
Moreover, the Czech Republic's demand for electricity is expected to have a demand of around 83 terra watt-hours (TWh) by 2025, and with its target to reduce the carbon emission by having an alternative source of energy, renewable sources are likely to grow during the period.
Solar energy is becoming inexpensive in comparison to other conventional energy sources due to innovations in the solar sector that have reduced the global average selling prices of solar PV. With the anticipated improvements in technology and increased supply of panels from China/Europe, the capital costs are expected to stabilize at lower levels. As a result, investors/developers are expected to focus on the commercial viability of solar projects.
To understand key trends, Download Sample Report
Development in Nuclear Power Projects is Likely to Restrain the Growth of the Market
As of 2019, Czech Republic has six nuclear plants that generate nearly one-third of its electricity and is the second-largest source of electricity in the country.
During 2018, around 88 TWh of electricity was generated, of which 29.9 TWh was from the nuclear power plant, 45.07 was from the thermal power plant, 4.9 TWh from renewables, 3.68 TWh from natural gas power plants, and around 4.4 TWh from others.
Nearly 25.48 TWh of electricity was exported during 2018, at both transmission and distribution level. Austria was the highest importer of electricity from the Czech Republic, followed by Slovakia and Germany.
With government intervention, the country is planning to increase its electricity generation from nuclear power plants to nearly 50% by 2025.
With existing nuclear power plants in Dukovany and Temelin, the country is planning to expand its plant capacity. The plants in Temelin are expected to get increased to nearly 1028 MW and 1026 MW during the forecast period.
Moreover, the country has few planned and proposed plants, which include Dukovany 5, Dukovany 6, Temelin 3, and Temelin 4. With the commissioning of these power plants, the nuclear capacity is expected to get further increase by nearly 4.8 GW during the upcoming years.
To understand geography trends, Download Sample Report.
The Czech Republic solar energy market is moderately consolidated. The key players in the market include Ekotechnik Czech SRO, SVP Solar SRO, Solar Global AS, Solartec Holding AS, and Photon Energy NV.