Lithuania Solar Power Market Outlook to 2028

Lithuania Solar Power Market Outlook to 2028

The ongoing supportive government policies and initiatives, sharp decline in technology and solar PV system costs, and increasing investments in solar power projects are driving the solar power market in Lithuania.

Further, a growing number of governments and companies are setting up and pursuing climate-neutral/net-zero emissions targets, commitments, and goals that are propelling both the solar photovoltaic (PV) market and wind power installation growth globally.

Before decommissioning its nuclear power plant in 2009, the country was a net energy exporter to the neighboring Baltic states. Post-2009, the country is now heavily dependent on imports to meet its energy demands.

Due to its heavy dependence on energy imports, the country is constantly in a vulnerable position owing to the volatile geopolitical situations in the region. The majority of its energy mix consists of natural gas and renewable sources (predominantly wind, biofuel, and waste).

The government aspires to achieve a renewable energy resources contribution of at least 45 percent in final energy consumption by 2030 and 80 percent by 2050.

The annual solar irradiation in Lithuania is between 1,000 and 1,200 kWh/m2. The western section of the country has a higher solar energy potential than the eastern part of the country. The solar radiation parameter for the central and remaining parts of the country is roughly 1,100 kWh/m2 per year.

As the country has solar irradiation viable for solar energy production, solar power can directly contribute to Lithuania’s energy security and independence and help it meet rising electricity demand and CO2 emission reduction goals.

Some of the trends in PV technology are -

Innovations in bifacial solar panels (which uses both sides of the panel to generate electricity) are expected to generate efficiency gains and lower LCOE in the coming years.

Currently, P-type mono PERC cells are the dominant technology. However, post-2025, N-type cells have the potential to replace p-type cells in the future.

Extensive research is being conducted on perovskite solar cells due to their high efficiency and easy manufacturing in large scale.

According to Blackridge Research, the outlook for solar PV installation remains strong in the medium term, and the market is expected to expand during the forecast period due to compelling economics and decarbonization commitments by various stakeholders.

Blackridge Research’s Lithuania Solar Power Market Outlook report consolidates the developments and build a perspective on growth from the point of view of the solar sector in its current and future role.

The report provides a comprehensive analysis of the historical development, the current state of the solar power installation scenario, and its outlook.

The majority of data in the report have been derived from multiple bottom-up and top-down analyses, as well as proprietary models, databases, and offerings - Solar Intelligence Hub and Global Project Tracker Service built from public and exclusive sources over the years.

The insights include but are not limited to the market data, solar PV installation data and capacity additions data and forecast, government policies and regulations, project data (upcoming solar power projects, under-construction projects, and operating/commissioned solar power plants), company profiles of major players, and competitive landscape analysis.

The market research report covers market dynamics, growth potential of the photovoltaic (PV) and concentrated solar power (CSP) markets, economic trends, and investment & financing scenario in Lithuania.

Further, the report looks at the current state and assesses the potential of residential, non-residential, and utility-scale solar PV deployment.

Special attention is given to depicting the impact of the ongoing COVID-19 pandemic and changes in the government policies and regulatory landscape.

The new report from Blackridge Research on Lithuania solar power Market comprehensively analyses the Lithuania solar power Market and provides deep insight into the current and future state of the industry. The study examines the drivers, restraints, and regional trends influencing Lithuania solar power Market demand and growth.

What do we cover in the report?

Lithuania Solar Power Market Drivers & Restraints

The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth. The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data. Each factor's respective impact in the near, medium and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyze the degree of impact.

Lithuania Solar Power Market Analysis

This report discusses the overview of the market, latest updates, important commercial developments and structural trends, and government policies and regulations. This section provides an assessment of COVID-19 impact on Lithuania solar power Market demand.

Lithuania Solar Power Installed Capacity and Demand Forecast

The report provides Lithuania's solar power installed capacity and demand forecast until 2028, including year-on-year (YoY) growth rates and CAGR.

Lithuania Solar Power Industry Analysis

The report examines the critical elements of the solar power industry supply chain, its structure, and participants using Porter's five forces framework. The report covers the assessment of the Lithuania solar power industry's state of competition and profitability.

Lithuania Solar Power Market Segmentation & Forecast

The report dissects the Lithuania solar power Market into segments by end-use sector and by technology type (solar photovoltaic (PV) and Concentrated solar power). A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment. Further, market size and demand forecasts will be presented, along with various drivers and barriers for individual market segments.

Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for "bespoke" market segmentation to better align the research report with your requirements.

Key Company Profiles

This report presents detailed profiles of Key companies in Lithuania’s solar power industry, which includes companies such as eternia solar, sun investment group, solet technics, etc. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments.

Competitive Landscape

The report provides a comprehensive list of notable companies in the market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements. The study also discusses the strategies adopted by leading players in the industry.

Executive Summary

The Executive Summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly. The report begins with an Executive Summary chapter and ends with Conclusions and Recommendations.

This product will be delivered within 3-5 business days.