Uzbekistan Renewable Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Uzbekistan renewable energy market is expected to witness a CAGR of more than 4.5%, during the forecast period. The primary driver of the market includes government policies that are emphasizing on switching its electricity generation from natural gas to renewable fuels. Uses of renewable energy ensure energy diversification, to stabilize the increasing carbon emission in the country. However, due to its abundance of energy, the development of renewable energy is not on a high priority for the Uzbekistan government, except hydropower, which is expected to hinder the market growth during the forecast period.

Hydropower held a significant market share in 2019, and it is likely to dominate the market during the forecast period.

Uzbekistan's electricity generation mostly depends upon fossil fuel, but it is expected that the country has a potential for wind energy generation of around 15.27-775.72  kWh/m2. Places, like Nukus, Kungrad, Ak Bajtal, and Buhara, are expected to be the best sites for wind energy development in Uzbekistan. The estimated wind speed and power density of the sites are around 0.61-3.98 m/s and 1.74–88.55 W/m2, respectively. Thus, the country's wind energy holds an opportunity for the market groeth in the future.

Increasing solar energy projects are likely to drive the Uzbekistan renewable market, during the forecast period.

Scope of the Report

The Uzbekistan renewable energy market report includes:

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Key Market Trends

Hydropower to Dominate the Market

• As of 2019, Uzbekistan's renewable energy primarily consisted of hydropower. With nearly 99% of the total renewable installed capacity, the segment has dominated the renewable sector. Solar and wind power have almost 1% of the total renewable installed capacity.
• With around 37 hydroelectric stations, the country had a total installed capacity of around 1,914.9 megawatts (MW) in 2018, and it increased to 1,938.9 MW in 2019.
• With an increase in electricity demand, the country is planning to set up four new hydroelectric projects of more than 30 MW, by 2025. Moreover, the Uzbekistan government is planning to set up 16 small hydroelectric projects and to modernize 21 existing hydroelectric power stations.
• The completion of the aforementioned projects is estimated to generate around 2,826 million kWh electricity per year, with total hydropower stations number to reach around 57, by 2025.

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