Despite the ongoing war, Ukraine has achieved significant growth in its photovoltaic (PV) market in 2024. According to a report by the Ukrainian Solar Energy Association (ASEU), the country added 800-850MW of new installed capacity in 2024. This growth was primarily driven by businesses and households relying on self-consumption PV systems to ensure stable electricity supply and address grid security challenges.
Vladyslav Sokolovsky, Chairman of the ASEU Board, noted that the growth in the self-consumption market was aided by the abolition of value-added tax (VAT) and tariffs on imports of PV modules and related equipment in the summer of 2024, which provided strong support for households and businesses to deploy solar power generation equipment.
As of the end of 2023, Ukraine’s cumulative PV installed capacity reached 8.06GW, according to data from the International Renewable Energy Agency (IRENA). In 2019, a single year saw 3.93GW of new installations, while in 2020 and 2021, the figures were 1.395GW and 731MW, respectively.
Despite the ongoing war, ASEU remains optimistic about the prospects for Ukraine’s PV market. In the self-consumption market, more businesses are investing in PV systems combined with energy storage to ensure energy security. For industrial PV projects, several new projects have been announced in 2024, with further potential to drive the construction of industrial-scale PV power stations in the future.
Additionally, Sokolovsky mentioned the development potential of agriculture-PV integration. Farmers and agricultural companies can significantly reduce energy costs by installing PV and energy storage systems, especially in areas far from substations or requiring transmission line construction. Sokolovsky said that from an economic feasibility perspective, agriculture-PV integration will gradually rise in Ukraine, “and we expect to see the first results this year.”
According to the association, the Ukrainian government is considering introducing military risk insurance mechanisms for investors while supporting industry growth through preferential loans and grant programs.
Under the national renewable energy action plan, Ukraine aims to increase its total PV installed capacity to 12.2GW by 2030.
