Future of Solar Bright in Russia

From PV Magazine

By Linas Jegelevicius

Russia is embracing solar power despite reduced government forecasts for PV development. Federal regions and neigboring CIS countries are ramping up ambitious PV plans.

The expansion of solar energy in Russia and the Commonwealth of Independent States (CIS) will see “an unprecedented growth” in the short term, according to a new report by IBCentre, a U.K. and Russia-based research and consulting organization that focuses, among other things, on the field of sustainable energy development in Eastern Europe and the CIS.

The research group’s findings are good news for the solar industry despite anticipated reforms in Russia’s power sector. The country’s Energy Ministry has narrowed the scope of RES generation capacity until 2020.

IBCentre has issued a particularly bright forecast for solar expansion in Russia and other CIS countries for 2014, pointing out that renewable energy investors have been increasingly interested in the Russian market since RES legislation foreseeing a favorable determination of price for renewable energy capacity went into effect in 2013.

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