Ukraine has great potential in solar energy, and the industry needs almost €5B in investment by 2030.

According to a study by Berlin Economics, in the years before the start of Russia’s full-scale aggression the share of solar energy in the total volume of Ukraine’s electricity production increased significantly, from 5.9 GW in 2018 to 8.06 GW in 2022, and growth in solar generation capacity accounted for almost 37%.

Russian attacks on energy infrastructure make decentralized alternatives necessary, in which solar energy will play a key role. The study results show that 9.2 GW of solar generation capacity can be integrated into the Ukrainian energy system by 2027 and up to 14 GW by 2030 (+8.4 GW compared to current capacities). This would require almost €5B in total investment.

The study claims that Ukraine has great potential as a location for solar power plants. However, to realize this potential, several measures must be taken, such as investment in electric power infrastructure, reductions in investment costs, and liberalization of the electricity market.