Overview of the Ukrainian Solar Market: Status and Commercial Perspectives

Abstract

Today, solar energy is called the energy of the future, and many companies make significant investments in the construction of such power plants. The article provides an overview of the commercial perspectives of this market, determines the size of investments and the return on the project. Modern solar panels are able to operate without additional investments for decades and, from the point of view of the authors, in the long term the electricity generated in this way will not only cost-effective, and extremely profitable. The global situation in the energy market and in the field of renewable energy, in particular, is considered. The reasons that triggered the development of renewable energy sources, the key of which are the dangers of nuclear energy and environmental pollution, are explained. Along with this, we consider the structure of the market of renewable energy sources in Ukraine, where the geographic location is favorable for the implementation of solar energy projects. The climate of Ukraine is characterized by a large number of sunny days: in terms of insolation, Ukraine is significantly superior to European leaders in solar energy. This basic factor allows us to talk about the commercial perspectives of solar power generation projects implemented in Ukraine. Against the background of these perspectives is considered the structure of the energy market in Ukraine and the investment attraction of renewable energy projects. Market trends in the development of the solar energy market were discussed, which are expected to contribute to the development of new market niches, such as after-sales services, as well as the transformation of existing business models against the backdrop of the introduction of new facilities.