Market Overview
The Turkey solar energy market size reached 19.1 GW in 2024. It is expected to grow to 30.2 GW by 2033, with a compound annual growth rate (CAGR) of 4.7% during 2025-2033. The market is propelled by favorable government policies, technological innovations, decreasing solar panel costs, energy security concerns, and increasing environmental awareness. Public education campaigns also contribute to higher acceptance and adoption.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
Turkey Solar Energy Market Key Takeaways
- The market size was 19.1 GW in 2024 and is forecasted to reach 30.2 GW by 2033.
- The market is projected to grow at a CAGR of 4.7% during 2025-2033.
- The forecast period for the market is 2025-2033.
- Government policies and incentives are steering market growth.
- Increasing collaborations between public and private sectors boost solar project development.
- Innovations driven by enhanced research and development efforts make solar technologies more efficient and cost-effective.
- Financial institutions are offering better financing options, increasing project accessibility.
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Market Growth Factors
The Turkey solar energy market growth is primarily driven by the implementation of favorable government policies that promote solar infrastructure investments and regulatory support. These policies encourage private investments and facilitate public-private partnerships that accelerate the development and deployment of solar projects. According to the report, continuing technological advancements and the decreasing costs of solar panels have made solar energy solutions increasingly cost-effective and attractive, fostering market expansion. Public awareness and education campaigns have further boosted acceptance and adoption of solar energy, catalyzing growth.
Increasing energy security concerns also play a pivotal role in market growth. Turkey faces significant risks due to fluctuations in global energy prices, geopolitical tensions, and heavy reliance on imported fossil fuels. Solar power offers a sustainable, inexhaustible local energy source that reduces this dependency, enhancing energy security. The Turkish government actively promotes solar energy as part of a strategy to diversify energy sources, mitigate supply disruptions, and reduce the energy trade deficit. This strategic focus has attracted significant investment and growth in the solar energy sector.
Growing collaborations between the public and private sectors have had a major impact by allowing resource sharing, expertise exchange, and technology transfer, including global industry standards. These partnerships address infrastructure challenges and improve grid integration and energy storage solutions. Moreover, financial institutions provide favorable financing options, making solar projects accessible to a wider range of investors. Enhanced research and development efforts in solar technology foster continued innovation, making solar systems more efficient and cost-effective, which further supports market expansion.
Market Segmentation
Technology Insights:
- Solar Photovoltaic (PV): Includes market analysis and trends around solar PV technology.
- Concentrated Solar Power (CSP): Covers insights related to CSP technology deployment and market share.
Application Insights:
- On-grid: Analysis of solar energy systems connected to the main electricity grid.
- Off-grid: Analysis of autonomous solar systems independent of the grid.
End User Insights:
- Residential: Solar solutions designed for residential sector consumption.
- Commercial: Solar energy applications for commercial enterprises.
- Industrial: Industrial sector usage of solar energy solutions.
Regional Insights
The report analyzes major regional markets in Turkey: Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, and Eastern Anatolia. It provides comprehensive insights into each region’s market dynamics and trends, supporting strategic decision-making for stakeholders across Turkey’s diverse geographical landscape.
Recent Developments & News
- On August 17, 2023, Zorlu Energy secured preliminary licenses for its first energy storage-integrated wind power plants totaling 375 MWe in Tekirdağ and Kırklareli, expected to reduce CO2 emissions by 532,000 tons annually.
- On January 22, 2024, Yingli Solar announced the supply of 405MW high-efficiency solar modules to iSOLAR SA, with 180MW already in use, aiming to generate 486 million KWH annually and reduce carbon dioxide emissions by 500,000 tons.
Key Players
- Zorlu Energy
- Yingli Solar
- iSOLAR SA
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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