Solar Energy Industry in the World and in Türkiye

The volatility of conventional fossil-based energy sources during the 2022 Global Energy Crisis has threatened the sustainable electricity supply in the short-term and resulted in the reconsideration of countries’ given Net Zero Emissions commitments for the long-term. However, the Crisis has also had a significant impact on better understanding the global debate on the implications of the sustainable energy supply, as well as on accelerating required action steps. Despite its negative impacts, the 2022 Energy Crisis marked its place in the history as a milestone which confirmed the problems stemming from the dependence on fossil resources and the critical role of renewable energy sources in energy security.

Studies published by different authorities predict solar energy’s emergence as the fastest-growing generation technology within the process of green transformation of electricity generation through reducing electricity-generation based carbon emissions. The same trend is also observed on the National Energy Plan of Türkiye which was published in 2022. Regulations introduced in 2023 allowing renewable electricity generation through power plants with storage facilities and hybrid electricity generation also support this plan. Alignment between the global and national targets emphasize Türkiye’s commitment towards harnessing its potential in solar energy and the country’s endeavour in not only contributing to energy security on a national level, but also towards a sustainable future. In this context, the targets set in Türkiye’s National Energy Plan are being embraced and recognized by local investors. Within a relatively short time of a decade, Türkiye has rapidly adopted solar energy – a generation technology which historically was not represented in the country’s total installed capacity – and included into the national energy generation portfolio; as well as completed and planned further investments in manufacturing facilities capable of producing solar modules with significantly high local content ratios.

As PwC Türkiye, we are proud to share this research study with you which conveys the historical development, current overview, and future expectations of solar energy generation and the companies manufacturing solar cells and modules from both a global and a local perspective. Our research has been compiled from publicly-available sources to be presented to public attention.